v3.26.1
Note 5 - Property and Equipment, Net
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Property, Plant, and Equipment [Text Block]

5. Property and equipment, net

 

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

 

  

Useful Life

         

Asset Class

 

(Years)

  

June 30, 2026

  

December 31, 2025

 
             

Operational equipment

  3 - 10  $3,456  $3,456 

Lab equipment

  5   1,031   1,031 

Computer equipment

  3   107   107 

Office furniture and equipment

  3   87   87 

Leasehold improvements

  2.5   80   80 

Equipment under construction

      3,990   3,990 
       8,751   8,751 

Less: accumulated depreciation

      (3,381)  (2,988)
             

Total property and equipment, net

     $5,370  $5,763 

 

Property and equipment depreciation expense was $196,000 and $393,000 for the three and six months ended June 30, 2026 and $200,000 and $421,000 for the three and six months ended June 30, 2025, respectively. Equipment under construction is comprised of our lithium-ion battery recycling commercial equipment along with various components being manufactured or installed by the Company.