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Derivative Financial Instruments and Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Interest Rate Swaps
The location and amounts of interest rate swaps and their fair values in the condensed consolidated balance sheets are:
September 30,
2025
December 31,
2024
Location of Fair Value Recognized in Balance Sheet
Derivatives designated as cash flow hedges:
Short term portion of the interest rate swaps$84 $238 Prepaid expenses and other current assets
Long term portion of the interest rate swaps— 448 Other long-term assets
Long term portion of the interest rate swaps(95)— Other long-term liabilities
$(11)$686 
Schedule of Effect of Derivative Instruments on Statement of Operations
The effect of interest rate swaps on the condensed consolidated statement of operations were as follows:
Three months ended September 30,Nine months ended September 30,Location of Gain in Operations from Derivatives
2025 20242025 2024
Gain on net periodic settlements$72 $— $217 $— Interest and financing expense, net
The following table summarizes the effect of commodity swaps accounted for as derivatives under ASC 815 on the condensed consolidated statements of operations for the three and nine months ended September 30, 2025 and 2024:
Three months ended September 30,Nine months ended September 30,
Derivatives not designated as hedging instruments:
Location of Gain (Loss) Recognized
2025 20242025 2024
Commodity swaps - realized gain (loss)Revenues - Renewable Power$$200 $(52)$609 
Commodity swaps - unrealized gain (loss)Revenues - Renewable Power12 (170)— (494)
Commodity swaps - realized gainRevenues - RNG Fuel1,029 — 1,900 — 
Commodity swaps - unrealized gainRevenues - RNG Fuel313 — 920 — 
Total realized and unrealized gain$1,362 $30 $2,768 $115 
Schedule of Derivatives Fair Values on Balance Sheet
The following table summarizes the derivative assets and liabilities related to commodity swaps as of September 30, 2025 and December 31, 2024:
Fair Value
September 30, 2025December 31, 2024Location of Fair Value Recognized in Balance Sheet
Derivatives not designated as hedging instruments
Current portion of unrealized gain on commodity swaps$920 $— Prepaid expense and other current assets
Current portion of unrealized loss on commodity swaps(72)(9)Accrued expenses and other current liabilities
Non - current portion of unrealized loss on commodity swaps— (63)Other long-term liabilities
Total commodity swaps - unrealized gain (loss)$848 $(72)
Schedule of Commodity Swaps And Other Derivatives
The following table summarizes the effect of change in fair value of other derivative liabilities on the condensed consolidated statements of operations for the three and nine months ended September 30, 2025 and 2024:
Derivative liabilityThree months ended September 30,Nine months ended September 30,Location of Gain in Operations from Derivatives
2025 20242025 2024
Sponsor Earnout Awards gain$— $278 281 1,457 
$— $278 $281 $1,457 Change in fair value of derivative instruments, net
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis
The Company's assets and liabilities that are measured at fair value on a recurring basis include the following as of September 30, 2025 and December 31, 2024, set forth by level, within the fair value hierarchy:
Fair value as of September 30, 2025
Level 1Level 2Level 3Total
Liabilities:
Earnout liabilities$— $— $23 $23 
Interest rate swap contracts— 95 — 95 
Commodity swap contracts— 72 — 72 
Assets:
Cash and cash equivalents and restricted cash - current and non-current (1)
34,283 — — 34,283 
Interest rate swap contracts— 84 — 84 
Commodity swap contracts— 920 — 920 
Fair value as of December 31, 2024
Level 1Level 2Level 3Total
Liabilities:
Earnout liabilities$— $— $304 $304 
Commodity swap contracts— 72 — 72 
Assets:
Cash and cash equivalents and restricted cash - current and non-current (1)
29,228 — — 29,228 
Interest rate swap contracts— 686 — 686 
Convertible note receivable— — 760 760 
(1) Includes balances in money market accounts of $26,213 and $19,786, respectively as of September 30, 2025 and December 31, 2024.