v3.26.1
INVESTMENTS
 6 Months Ended
Jun. 30, 2026
Equity Method Investments and Joint Ventures [Abstract]  
INVESTMENTS
5. INVESTMENTS
The following table presents the ownership interests and carrying values of our investments:
Carrying Value
InvestmentOwnership PercentageJune 30, 2026December 31, 2025
Intermodal Finance I, Ltd.Equity method51%$— $— 
Pyroplast Energy LTDEquity method46.8%21,166 22,243 
$21,166 $22,243 
The following table presents our proportionate share of equity in earnings (losses):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Intermodal Finance I, Ltd.
$— $— $— $50 
Long Ridge Energy & Power LLC— — — 10,899 
Long Ridge West Virginia LLC— — — (311)
GM-FTAI Holdco LLC— (1,895)— (7,110)
Clean Planet Energy USA LLC— (100)— (209)
Pyroplast Energy LTD(560)— (1,078)— 
Total$(560)$(1,995)$(1,078)$3,319 
Equity Investments
TimberHP Madison, LLC
On February 2, 2026, the Company invested $5.0 million in TimberHP Madison, LLC (“TimberHP”) as a Secured Promissory Note. The note matures on February 2, 2028 and has a current annual interest rate of 5%. The interest is due at maturity.
On April 17, 2026, the Company converted it’s existing Secured Promissory Note into preferred equity and invested an additional $5.0 million in TimberHP as preferred equity for a total $10.0 million investment. On the same date, the Company also issued a $5.0 million revolver to TimberHP that was not drawn upon as of June 30, 2026.