XML 16 R10.htm IDEA: XBRL DOCUMENT v3.22.2.2
Property, plant and equipment
 9 Months Ended
Sep. 30, 2022
Property, plant and equipment [abstract]  
Property, plant and equipment

 

  5. Property, plant and equipment

  

                               
      Assets under construction       Office and other equipment       Right of use assets       Total  
2022     €’000       €’000       €’000       €’000  
Cost                
At January 1, 2022     17,161       185       1,111       18,457  
Additions during the year     9,100       574       893       10,567  
At September 30, 2022     26,261       759       2,004       29,024  
                                 
Depreciation                                
At January 1, 2022     —         (28 )     (318 )     (346 )
Charge for year     —         (86 )     (325 )     (411 )
At September 30, 2022     —         (114 )     (643 )     (757 )
                                 
Net book values                                
At September 30, 2022     26,261       645       1,361       28,267  
At December 31, 2021     17,161       157       793       18,111  

 

      Assets under construction       Office and other equipment       Right of use assets       Total  
2021     €’000       €’000       €’000       €’000  
Cost                
At January 1, 2021     6       —         —         6  
Additions during the year     17,155       185       1,111       18,451  
At December 31, 2021     17,161       185       1,111       18,457  
                                 
Depreciation                                
At January 1, 2021     —         —         —         —    
Charge for year     —         (28 )     (318 )     (346 )
At December 31, 2021     —         (28 )     (318 )     (346 )
                                 
Net book values                                
At December 31, 2021     17,161       157       793       18,111  
At December 31, 2020     6       —         —         6  

 

Depreciation expense on property and equipment was €0.09 million and €0.03 million for the nine month periods ended September 30, 2022 and 2021, respectively. Assets under construction includes costs mostly related to construction of the Group’s two Évora hydrogen plants, costs incurred on the Group’s HEVO-Sul project and its Benavente production facility.

 

During the period ended September 30, 2022, the Group entered into a Grant agreement with Agência para o Investimento e Comércio Externo de Portugal, E.P.E. relating to the Benavente production facility. The Group submitted its first claims under this agreement during the nine month period ended September 30, 2022, which amounted to €0.8 million. Using the net presentation method available under IAS 20 Accounting for Government Grants and Disclosure of Government Assistance, the Group has netted this amount against the carrying value of the asset.