Intangible Assets

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible Assets

Identifiable intangible assets consist of patents, which management evaluates to determine whether they (i) support current products, (ii) support planned research and development, or (iii) prevent others from competing with Gevo's products.

The following tables set forth the Company’s intangible assets by classification (in thousands) as of:

	March 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Identifiable Intangible Assets, net		Weighted-Average Useful Life (Years)
Patents	$	4,580	$	(1,184)	$	3,396	7.4
Defensive assets	4,900		(896)		4,004		8.4
Intangible assets	$	9,480	$	(2,080)	$	7,400	7.9

	December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Identifiable Intangible Assets, Net		Weighted-Average Useful Life (Years)
Patents	$	4,580	$	(1,039)	$	3,541	7.4
Defensive assets	4,900		(750)		4,150		8.4
Intangible assets	$	9,480	$	(1,789)	$	7,691	7.9

The Company recorded amortization expense of $0.3 million for each of the three months ended March 31, 2023 and 2022.

The following table details the estimated amortization of intangible assets as of March 31, 2023 (in thousands):

Year Ending December 31,	Patents		Defensive Assets		Total
2023 (remaining)	$	437	$	439	$	876
2024	582		586		1,168
2025	582		586		1,168
2026	582		586		1,168
2027	582		586		1,168
2028 and thereafter	631		1,221		1,852
Total intangible assets	$	3,396	$	4,004	$	7,400