v3.26.1
Inventories
 6 Months Ended
Jun. 30, 2026
Inventory Disclosure [Abstract]  
Inventories
10. Inventories
Inventory is valued at the lower of cost or net realizable value. The following table sets forth the components of the Company’s inventory balances (in thousands) as of:
June 30, 2026December 31, 2025
Raw Materials$6,818 $8,250 
Finished goods:
Biofuels1,948 2,028 
Work in process:
Environmental attributes5,050 3,847 
Biofuels1,742 1,421 
Spare parts3,746 3,530 
Total inventories$19,304 $19,076 
The Company has entered into forward corn purchase contracts under which it is required to take delivery at the contract price. At the time the contracts were created, the price of the contract approximated market price. Subsequent changes in market conditions could cause the contract prices to become higher or lower than market prices.