Commitments and Contingencies

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 21. Commitments and Contingencies

From time to time, the Company is subject to various claims and legal proceedings that arise in the ordinary course of business. The Company accrues for losses related to litigation when a potential loss is probable, and the loss can be reasonably estimated. The Company is not party to any material legal proceedings for which a loss was probable or an amount was accrued.

Bank Guarantee

As of December 31, 2023 and December 31, 2022, the Company guarantees balance was $4.7 million and $3.6 million, respectively for project implementation fees which are released upon delivery of the project products to the customer. million. In order to receive bank guarantees for project advances, the bank requires deposits of 15% of the value of the guarantee.