Intangible Assets

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

11. 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:

	September 30, 2023
					Identifiable		Weighted-
	Gross Carrying		Accumulated		Intangible		Average Useful Life
	Amount		Amortization		Assets, net		(Years)
Patents	$	4,580	$	(1,475)	$	3,105	7.4
Defensive assets		4,900		(1,189)		3,711	8.4
Intangible assets	$	9,480	$	(2,664)	$	6,816	7.9

	December 31, 2022
					Identifiable		Weighted-
	Gross Carrying		Accumulated		Intangible		Average Useful Life
	Amount		Amortization		Assets, Net		(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, $0.9 million, $0.4 million, and $1.0 million for the three and nine months ended September 30, 2023 and 2022, respectively.

The following table details the estimated amortization of intangible assets as of September 30, 2023 (in thousands):

Year Ending December 31,	Patents		Defensive Assets		Total
2023 (remaining)	$	146	$	146	$	292
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	$	3,105	$	3,711	$	6,816