Related party transactions |
9 Months Ended |
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Sep. 30, 2026 | |
| Related Party Transactions [Abstract] | |
| Related party transactions | 26. Related party transactions The Company enters into transactions with related parties, including affiliates and entities under common control, in the ordinary course of business. Nordic LuxCo / Heaten Group On March 30, 2026, the Company received a 24.9% equity interest in Nordic LuxCo as a non-cash capital contribution of $7.3 million from its parent, Al Alpine (Luxembourg) S.à.r.l. Nordic LuxCo is the parent entity of the Heaten Group, a developer of high-temperature industrial heat pump technology. The contribution was accounted for as a transaction between entities under common control. The Company accounts for its investment in Nordic LuxCo under the equity method of accounting. See Note 27 – Variable interest entities for information regarding the Company's assessment of Nordic LuxCo under the variable interest entity model. The most significant ongoing related party activity relates to agreements with Heaten Germany GmbH, a subsidiary of Nordic LuxCo and an affiliate of the Company through its parent. Under these agreements, the Company provides engineering and support services and manufactures high‑temperature heat pumps to Heaten specifications. Pricing is determined on a cost‑plus basis based on the Company's internal cost structures. Under these arrangements, the Company recognized revenue of $0.4 million and $3.2 million for the three and nine months ended September 30, 2026, respectively. As of September 30, 2026, related receivables of $0.0 million remained outstanding. The Company also received services totaling $0.7 million and $0.7 million for the three and nine months ended September 30, 2026, respectively. As of September 30, 2026, related payables of $0.7 million remained outstanding.
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