Property, Plant, and Equipment

12 Months Ended

Dec. 31, 2024

Property, Plant, and Equipment

Property, Plant and Equipment

9. Property, Plant and Equipment

The following table sets forth the Company’s property, plant and equipment by classification (in thousands) as of:

	Useful Life	December 31,
	(in years)	2024		2023
Land		$	6,592	$	6,505
Plant facilities and infrastructure	5 to 20		74,255		77,329
Machinery and equipment	5 to 20		79,637		95,212
Furniture and office equipment	3 to 7		2,779		2,864
Software	3 to 6		5,419		1,636
Construction in progress			154,272		114,332
Total property, plant and equipment			322,954		297,878
Less: accumulated depreciation and amortization			(101,312)		(86,315)
Property, plant and equipment, net		$	221,642	$	211,563

The Company recorded depreciation expenses of $15.9 million and $17.6 million for the years ended December 31, 2024, and 2023, respectively.