Property, Plant, and Equipment, net

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

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


	September 30, 2023		December 31, 2022
Land and building	$	2,823	$	2,818
Machinery and equipment	13,873		15,832
Software	3,240		2,350
Leasehold improvements	2,904		2,123
Construction in progress	2,366		2,499
Total Property, plant, and equipment	25,206		25,622
Less: Accumulated depreciation and amortization	(5,657)		(3,202)
Property, plant and equipment, net	$	19,549	$	22,420

Depreciation and amortization expense totaled $1.0 million and $3.2 million for the three and nine months ended September 30, 2023, respectively. Depreciation and amortization expense totaled $0.8 million and $2.1 million for the three and nine months ended September 30, 2022, respectively.

The Company recognized impairment charges of $1.8 million during the three and nine months ended September 30, 2023, related to restructuring in Hyzon Europe (see Note 4. Restructuring and Related Charges). There were no property, plant and equipment impairment charges for the three and nine months ended September 30, 2022.

Additionally, outside of the restructuring in Hyzon Europe, the Company recorded write-downs of other property and equipment of $1.8 million during the three months ended September 30, 2023, which consist of $1.1 million in Research and development expense, and $0.7 million in Selling, general, and administrative expense in the Consolidated Statements of Operations and Comprehensive Income (Loss), respectively. The Company recorded write-downs of other property and equipment of $2.1 million during the nine months ended September 30, 2023, which consist of $1.4 million in Research and development expense, and $0.7 million in Selling, general, and administrative expense, respectively.