Quarterly report pursuant to Section 13 or 15(d)

Note 7 - Property, Plant and Equipment, Net

v3.23.1
Note 7 - Property, Plant and Equipment, Net
3 Months Ended
Mar. 31, 2023
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

7. Property, plant and equipment, net

 

Property, plant and equipment, net, consisted of the following (in thousands):

 

   

Useful Life

                 

Asset Class

 

(Years)

   

March 31, 2023

   

December 31, 2022

 
                         

Operational equipment

    3 - 10     $ 1,336     $ 1,445  

Lab equipment

    5       730       730  

Computer equipment

    3       6       6  

Office furniture and equipment

    3       90       90  

Leasehold improvements

    2.5       80       80  

Land

    -       1,141        

Building

    39       3,131        

Equipment under construction

            6,778       6,486  
              13,292       8,837  

Less: accumulated depreciation

            (1,398 )     (1,494 )
                         

Total property, plant and equipment, net

          $ 11,894     $ 7,343  

 

Property, plant and equipment depreciation expense was $0.1 million and $0.1 million for the three months ended March 31, 2023 and three months ended March 31, 2022, respectively. Equipment under construction is comprised of various components being manufactured or installed by the Company.