v3.26.1
ADVANCE FOR INVESTMENT IN JOINT VENTURE
6 Months Ended
Jun. 30, 2026
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
ADVANCE FOR INVESTMENT IN JOINT VENTURE ADVANCE FOR INVESTMENT IN JOINT VENTURE
The Company's advance had a carrying amount of approximately $522 thousand as of June 30, 2026 in connection with a proposed joint venture arrangement with Japan’s Meihodo Co., Ltd. and Euka Power Japan Co., Ltd., neither of which is a related party (see Note 9, "May 2026 Private Placement," for additional information).
The amount represents a refundable investment commitment (refundable if the transaction is not completed, subject to the terms of the arrangement) and is recorded as an advance for investment at cost.
As of June 30, 2026, the Company had not obtained ownership interests, voting rights, or the ability to participate in the management or governance of the investee. Accordingly, the advance continues to be recorded as an advance for investment in a joint venture. The transaction remains subject to customary closing conditions, and the ownership transfer has not yet been completed.
The joint venture is intended to support the Company’s Energy Storage Systems (“ESS”) initiatives in the Japan power market. Upon completion of the transaction, the Company will assess its ownership interest and determine the appropriate accounting model, including whether the investment will be accounted for under the equity method.