Note 6 - Property, Plant and Equipment

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

6. Property, Plant and Equipment

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

	Useful Life			September 30,			December 31,
	(in years)			2021			2020
Luverne retrofit asset		20		$	70,820		$	70,820
Plant machinery and equipment		10			17,949			17,374
Site improvements		10			7,157			7,157
Lab equipment, furniture and fixtures and vehicles		5			6,935			6,396
Demonstration plant		2			3,597			3,597
Buildings		10			2,543			2,543
Leasehold improvements, pilot plant, land and support equipment	2	to	7		2,523			2,523
Computer, office equipment and software	3	to	6		2,240			1,983
Construction in progress		—			51,033			13,132
Total property, plant and equipment					164,797			125,525
Less accumulated depreciation and amortization					(62,634	)		(59,117	)
Property, plant and equipment, net				$	102,163		$	66,408

Construction in progress includes $0.6 million for Gevo, $8.4 million for Agri-Energy, $36.0 million for Renewable Natural Gas and $6.0 for Net-Zero at September 30, 2021. Construction in progress includes $8.6 million for Agri-Energy and $4.5 million for Renewable Natural Gas (none for Gevo and Net-Zero) at December 31, 2020. Construction in progress is not subject to depreciation until the assets are placed into service. 

The Company recorded depreciation and amortization expense related to property, plant and equipment as follows (in thousands):

	Three Months Ended September 30,
	2021		2020
Cost of goods sold	$	1,098	$	1,418
Operating expenses		96		52
Total depreciation and amortization	$	1,194	$	1,470

	Nine Months Ended September 30,
	2021		2020
Cost of goods sold	$	3,358	$	4,580
Operating expenses		198		158
Total depreciation and amortization	$	3,556	$	4,738