Investments

3 Months Ended

Mar. 31, 2025

Investments

Investments

6. Investments

Investments in Non-consolidated Entities and Non-marketable Equity Securities

Non-marketable Equity Securities

Our investment in non-marketable equity securities was $2.6 million as of March 31, 2025 and December 31, 2024.

Equity Method Investments

As of March 31, 2025 and December 31, 2024, the Company accounted for the following investments in the investee’s common stock under the equity method, which are included in the investments in non-consolidated entities and non-marketable equity securities on the unaudited interim condensed consolidated balance sheets (amounts in thousands):

		As of March 31, 2025			As of December 31, 2024
	Formation	Common Stock	Carrying		Common Stock	Carrying
Investee	Date	Ownership %	Value		Ownership %	Value
AccionaPlug S.L.	Q4 2021	50%		4,603	50%		4,276
Clean H2 Infra Fund	Q4 2021	5%		30,100	5%		29,111
SK Plug Hyverse	Q1 2022	49%		47,773	49%		49,488
			$	82,476		$	82,875

During the three months ended March 31, 2025, the Company contributed approximately $0.5 million, $0 and $0 to AccionaPlug S.L., SK Plug Hyverse and Clean H2 Infra Fund, respectively. During the three months ended March 31, 2024, the Company contributed approximately $16.2 million, $1.7 million, $0 and $4.0 million to HyVia, AccionaPlug S.L., SK Plug Hyverse and Clean H2 Infra Fund, respectively.

The Company’s capital commitments related to its equity method investments as of March 31, 2025 was $0.3 million, all of which is expected to be paid during the remainder of 2025.