Property and Equipment, Net

6 Months Ended

Jun. 30, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

Property and Equipment, Net

Property and equipment, net consist of the following:

(in thousands)	June 30, 2023		December 31, 2022
Land	$	731	$	731
Building	7,009		—
Leasehold improvements	15,482		15,482
Processing equipment	4,597		4,227
Furniture and equipment	7,988		5,316
Projects in process	63,323		63,703
Finance lease right-of-use assets	131		131
Property and equipment, at cost	99,261		89,590
Less: accumulated depreciation and amortization	(11,802)		(10,296)
Property and equipment, net	$	87,459	$	79,294

Depreciation expense is as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2023		2022		2023		2022
Depreciation expense	$	798	$	713	$	1,506	$	1,418