Related Party Transactions

6 Months Ended

Jun. 30, 2024

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 4 — RELATED PARTY TRANSACTIONS

Our Chief Executive Officer ("CEO"), Chief Financial Officer, and Chief Operating Officer collectively own an indirect, non-controlling minority interest in OneH2, Inc. (“OneH2”), which they each acquired through various transactions that took place in early 2018 and prior. Our CEO is on the Board of Directors of OneH2. OneH2 is a privately held company that produces and delivers hydrogen fuel to end users and manufactures modular hydrogen plants and related equipment. During the three and six months ended June 30, 2024 the Company purchased $0.6 million and $1.2 million of hydrogen fuel from OneH2, respectively, and during the three and six months ended June 30, 2023, the Company purchased $0.1 million and $0.3 million of hydrogen fuel from OneH2, respectively. During both the six months ended June 30, 2024 and 2023, the Company paid OneH2 $1.1 million, as part of the Company's total investment to date of $5.3 million to build and commercialize a hydrogen production plant for the Company which we expect to become operational in the fourth quarter of 2024.