The following table sets forth the Company’s property, plant and equipment by classification (in thousands) as of:


	June 30, 2026		December 31, 2025
Land	$	12,232	$	12,232
Plant facilities and infrastructure	49,794		49,352
Machinery and equipment	143,958		140,552
Furniture and office equipment	2,771		2,731
Software	10,028		8,753
Construction in progress	72,712		186,641
Total property, plant and equipment	291,495		400,261
Less: accumulated depreciation and amortization	(53,376)		(46,684)
Property, plant and equipment, net	$	238,119	$	353,577

During each of the three months ended June 30, 2026 and 2025, the Company recorded depreciation expense of $3.4 million. Depreciation expense recorded into inventory during the three months ended June 30, 2026 and 2025 was $1.0 million and $1.5 million, respectively. During the three months ended June 30, 2026 and 2025, $0.9 million and $1.3 million, respectively, was recorded to depreciation expense due to sales of inventory.

During the six months ended June 30, 2026 and 2025, the Company recorded depreciation expense of $6.9 million and $6.3 million, respectively. Depreciation expense recorded into inventory during the six months ended June 30, 2026 and 2025 was $2.1 million and $2.8 million, respectively. During the six months ended June 30, 2026 and 2025, $2.3 million and $3.2 million, respectively, was recorded to depreciation expense due to sales of inventory.