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Inventories, Net
12 Months Ended
Dec. 31, 2025
Inventory Disclosure [Abstract]  
Inventories, Net Inventories, Net
Inventories consisted of the following (in thousands):
December 31,
2025
2024
Raw materials
$16,160 $1,956 
Consumables8,021 2,026 
Work in progress
3,633 16 
Finished goods
5,395 140 
Total Inventories, Net$33,209 $4,138 
Inventory write-downs as a result of excess, obsolescence, scrap or other reasons are recorded in cost of sales in the Company's consolidated statements of operations. For the years ended December 31, 2025 and 2024, inventory write-downs were $12.3 million and nil, respectively. Inventory write-downs were mainly related to inventory in excess of expected demand and shelf-life expiration. Inventory amounts above are net of the associated inventory write-downs.