Property, Plant and Equipment, Net

6 Months Ended

Jun. 30, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

Note 6. Property, Plant and Equipment, Net

Property, plant and equipment consist of the following (in thousands):

	As of June 30, 2022			As of December 31, 2021
Machinery and equipment	$	11,503		$	9,942
Office furniture and equipment		659			649
Vehicles		70			70
Leasehold improvements		2,848			2,805
		15,080			13,466
Less—Accumulated depreciation		(3,413	)		(2,473	)
		11,667			10,993
Construction in progress		35,591			18,817
Total property, plant and equipment, net	$	47,258		$	29,810

For the three months ended June 30, 2022 and 2021, depreciation expense was approximately $0.5 million and $0.4 million, respectively. For the six months ended June 30, 2022 and 2021, depreciation expense was approximately $1.0 million and $0.8 million, respectively.

Teknova capitalizes interest on funds borrowed to finance its capital expenditures. Capitalized interest is recorded as part of an asset’s cost and depreciated over the asset’s useful life. For the three months ended June 30, 2022 and 2021, capitalized interest costs were $0.3 million and zero, respectively. For the six months ended June 30, 2022 and 2021, capitalized interest costs were $0.6 million and zero, respectively.