Property and Equipment, Net

3 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

Property and Equipment, Net

Property and equipment, net consist of the following:

(in thousands)	March 31, 2023		December 31, 2022
Furniture and equipment	$	6,147	$	5,316
Leasehold improvements	15,482		15,482
Processing equipment	4,264		4,227
Land	731		731
Projects in process	67,299		63,703
Finance lease right-of-use assets	131		131
Property and equipment, at cost	94,054		89,590
Less: accumulated depreciation and amortization	(11,005)		(10,296)
Property and equipment, net	$	83,049	$	79,294

Depreciation expense is as follows:

	Three Months Ended March 31,
(in thousands)	2023		2022
Depreciation expense	$	709	$	704