v3.26.1
Plant and Equipment
3 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Plant and Equipment
7.
Plant and Equipment

The Company’s plant and equipment as of June 30, 2026 and March 31, 2026 are as follows (in thousands):

 

 

June 30,

 

 

March 31,

 

 

 

2026

 

 

2026

 

Existing MDLE Plant

 

$

29,449

 

 

$

29,449

 

Equipment

 

 

921

 

 

 

921

 

Office equipment

 

 

39

 

 

 

37

 

 

 

30,409

 

 

 

30,407

 

Less: accumulated depreciation

 

 

4,068

 

 

 

3,565

 

 

 

$

26,341

 

 

$

26,842

 

 

Depreciation expense for the three months ended June 30, 2026 and 2025 was $0.5 million and $0.5 million, respectively. The MDLE Plant was mobilized to a customer site in June 2024, and depreciation began upon commencement of operations.