PROJECT RIGHTS AND LONG-LEAD EQUIPMENT DEPOSITS |
12 Months Ended |
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Dec. 31, 2025 | |
| PROJECT RIGHTS AND LONG-LEAD EQUIPMENT DEPOSITS | NOTE 10. PROJECT RIGHTS AND LONG-LEAD EQUIPMENT DEPOSITS
During 2025, Emergen entered into arrangements with Aggreko and related counterparties in connection with specified battery energy storage projects. Under an executed amendment dated December 31, 2025, Emergen paid $1.678 million related to two project companies, Aggreko MSR Grid PC21 LLC and Aggreko MSR Grid PC36 LLC. As of December 31, 2025, Emergen remained the 100% owner of those project companies and no onward transfer of project title or project company membership interests had occurred. Accordingly, the amount paid was recognized as an intangible asset in the consolidated financial statements.
During 2025, Emergen also paid $1.886 million in connection with long-lead equipment procurement. As of December 31, 2025, Emergen was the purchaser of record and held the associated deposit and refund rights under the relevant procurement arrangements. Accordingly, the amount was recognized as a vendor deposit as of year-end. The Company expects such rights to be assigned in the future only if the applicable project milestones are achieved.
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