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Property, plant and equipment, net
 9 Months Ended
Sep. 30, 2024
Property, Plant and Equipment [Abstract]  
Property, plant and equipment, net Property, plant and equipment, net
As atSeptember 30, 2024December 31, 2023
Building$58.8 $58.8 
Plant equipment51.2 55.3 
Computer software and equipment4.9 4.5 
Vehicles0.2 0.2 
Leasehold improvements14.7 13.5 
Assets under construction588.5 552.6 
$718.3 $684.9 
Less – accumulated depreciation(25.1)(16.1)
Total property, plant and equipment, net$693.2$668.8
For the three and nine months ended September 30, 2024, $nil and $nil in borrowing costs (for the three and nine months ended September 30, 2023: $5.4 million and $29.9 million) were capitalized to assets under construction due to the pause of construction at the Rochester Hub. Depreciation expense for the three and nine months ended September 30, 2024 was $4.2 million and $9.0 million compared to $2.2 million and $3.9 million in the corresponding periods of 2023. In the nine months ended September 30, 2024, the Company received proceeds of $5.8 million (€5.3 million) of the $6.9 million (€6.4 million) approved grant for the Germany Spoke from the State of Saxony-Anhalt, Germany and recognized this amount as a reduction in plant equipment.
Refer to Note 14 (Commitments and contingencies) for details of contractual commitments to purchase fixed assets.