Inventories

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

Inventories

Inventories

The following table sets forth the components of the Company’s inventory balances (in thousands) as of:

	December 31,
	2022		2021
Raw materials
Corn	$	—	$	301
Consumables	29		186
Catalyst	139		265
Finished goods
SAF, isooctane and isooctene	1,457		335
Isobutanol	124		223
Ethanol	—		96
Work in process
Isobutanol	—		83
Jet fuel	51		—
Spare parts, net	354		1,262
Environmental attributes	4,193		—
Total inventories	$	6,347	$	2,751

Environmental attributes represent distinguishable and material output from our NW Iowa RNG operations. The Company started allocating the cost of production to the sales value of RNG, credits from California's LCFS program and RINs credits. The value of the environmental attributes is reviewed for potential write-downs based on the net realizable value methodology. During the year ended December 31, 2022 the Company adjusted its environmental attribute inventory to net realizable value and recorded a loss of $0.4 million in cost of production.

During the year ended December 31, 2022 and 2021, the Company adjusted its finished goods and work in process inventory to net realizable value and recorded a loss of $0.8 million and $5.2 million, respectively, in cost of production.