SUBSEQUENT EVENTS |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS | SUBSEQUENT EVENTS The Company has evaluated subsequent events occurring after March 31, 2026 through the date these consolidated financial statements were available to be issued. On April 3, 2026, the Company entered into agreements related to a joint venture investment with Japan’s Meihodo Co., Ltd. and Euka Power Japan Co., Ltd. for the development of an energy storage power plant located in Asakura, Fukuoka, Japan. Under the terms of the arrangement, the Company's total expected investment commitment for its 35% interest is approximately $1.1 million (Japanese Yen (“JPY”) 175.0 million). As of May 12, 2026, $535 thousand toward this commitment has been funded, with the remaining balance of approximately $565 thousand expected to be funded during project development. The transaction remains subject to closing conditions, and ownership transfer has not yet been completed. See Note 6, “Advance for investment in joint venture.” The project has received a grid application response from Kyushu Electric Power and is currently expected to reach commercial operation in the second half of 2026. On April 27, 2026, the Company’s Taiwan branch entered into a borrowing arrangement with First Commercial Bank and received loan proceeds of $0.9 million (New Taiwan dollars (“NTD”) 29.0 million). The borrowing bears interest at 3.015% per annum and matures on October 27, 2026. No other subsequent events have occurred that would require recognition or disclosure in the consolidated financial statements.
|