Property, Plant and Equipment

3 Months Ended

Mar. 31, 2013

Property, Plant and Equipment

4. Property, Plant and Equipment

The following table sets forth the Company’s property, plant and equipment by classification (in thousands).

		March 31,			December 31,
	Useful Life	2013			2012
Construction in progress	—	$	58,503		$	57,185
Plant machinery and equipment	10 years		11,030			11,030
Site improvements	10 years		7,007			7,007
Lab equipment, furniture and fixtures and vehicles	5 years		6,111			5,553
Demonstration plant	2 years		3,597			3,597
Buildings	10 years		2,543			2,543
Computer, office equipment and software	3 years		1,412			1,411
Leasehold improvements, pilot plant, land and support equipment	0 - 5 years		2,080			2,069
Total property, plant and equipment			92,283			90,395
Less accumulated depreciation and amortization			(14,151	)		(13,302	)
Property, plant and equipment, net		$	78,132		$	77,093

Construction in progress includes $57.9 million and $56.1 million at March 31, 2013 and December 31, 2012, respectively, related to the retrofit of the Agri-Energy Facility to isobutanol production.

During the three months ended March 31, 2012, the Company capitalized interest on its secured debt associated with its qualifying assets, which primarily related to the retrofit of the Agri-Energy Facility that was actively being developed. As a result, the Company capitalized $0.3 million of interest incurred during the three months ended March 31, 2012 and $1.3 million during the period from Inception to March 31, 2013.