XML 75 R62.htm IDEA: XBRL DOCUMENT v3.23.1
Subsequent Events (Details)
1 Months Ended
May 22, 2023
shares
May 19, 2023
USD ($)
project
Apr. 30, 2024
Apr. 30, 2023
USD ($)
position
Apr. 08, 2021
shares
2018 Omnibus Incentive Plan          
Subsequent Events          
Number of shares authorized | shares         12,333,333
State of Connecticut Loan | Third Amendment          
Subsequent Events          
Number of consecutive months maintain full time positions       24 months  
Number of minimum full time positions required to be maintained | position       91  
Number of minimum full time positions required to be maintained including additional employment positions | position       629  
Additional credits to be earned       $ 2,000,000.0  
Consecutive term for average number of employees     24 months 24 months  
Principal payable number of employee under employee obligation target       $ 14,225.00  
State of Connecticut Loan | Employment Obligation [Member] | Third Amendment          
Subsequent Events          
Number of minimum full time positions required to be maintained | position       538  
Subsequent Event [Member]          
Subsequent Events          
Term to maintain debt service coverage ratio   6 months      
Notional amount of hedge 100.00%        
Interest rate 3.716%        
Qurterly principal payment   $ 675,000      
Granted | shares 0        
Subsequent Event [Member] | First four years          
Subsequent Events          
Interest rate 6.366%        
Subsequent Event [Member] | Thereafter          
Subsequent Events          
Interest rate 6.866%        
Subsequent Event [Member] | Liberty Bank, Fifth Third Bank and Connecticut Green Bank          
Subsequent Events          
Repayments of debt   11,400,000      
Subsequent Event [Member] | Liberty Bank and Fifth Third Bank          
Subsequent Events          
Funds released from restricted cash   11,200,000      
Unrestricted cash   46,100,000      
Subsequent Event [Member] | PNC Energy Capital, LLC          
Subsequent Events          
Funds released from restricted and unrestricted reserve account   $ 7,300,000      
Subsequent Event [Member] | Minimum          
Subsequent Events          
Notional amount of hedge   75.00%      
Subsequent Event [Member] | Maximum          
Subsequent Events          
Notional amount of hedge   105.00%      
Subsequent Event [Member] | Maximum | 2018 Omnibus Incentive Plan          
Subsequent Events          
Additional number of shares authorized | shares 6,000,000        
Number of shares authorized | shares 18,333,333        
Shares to be issued on exercise of stock options | shares 1,833,333        
Subsequent Event [Member] | Maximum | Employee Stock Purchase Plan          
Subsequent Events          
Additional number of shares authorized | shares 500,000        
Number of shares authorized | shares 541,667        
Number of shares that can be purchased by individual participant | shares 1,000        
Subsequent Event [Member] | Project Financing Facility          
Subsequent Events          
Number of operating fuel cell generation projects | project   6      
Number of leased projects ownership reacquired | project   3      
Repayments of debt   $ 1,800,000      
Payments of debt issuance costs   2,900,000      
Net proceeds from debt   77,600,000      
Payments for lease buyouts and sales taxes   15,000,000.0      
Payments to fund capital expenditure reserve account   14,500,000      
Proceeds from debt, distributed to company   34,900,000      
Unrestricted cash   $ 46,100,000      
Initial interest period   3 months      
Principal amortization period   17 years      
Debt service coverage ratio   1.30%      
Debt instrument term   7 years      
Capital Expenditure Reserve   $ 29,000,000.0      
Future capital expenditures or long-term capital investments   29,000,000.0      
Capital expenditure reserve funded out of debt   $ 14,500,000      
Threshold annual operating expense budget as percent of base case model, approval from lenders   115.00%      
Trailing period for debt service coverage ratio   12 months      
Debt service coverage ratio, testing frequency   6 months      
Subsequent Event [Member] | Project Financing Facility | Applicable interest period one          
Subsequent Events          
Interest period   1 month      
Subsequent Event [Member] | Project Financing Facility | Applicable interest period two          
Subsequent Events          
Interest period   3 months      
Subsequent Event [Member] | Project Financing Facility | Applicable interest period three          
Subsequent Events          
Interest period   6 months      
Subsequent Event [Member] | Project Financing Facility | SOFR rate          
Subsequent Events          
Initial interest period   3 months      
Subsequent Event [Member] | Project Financing Facility | SOFR rate | First four years          
Subsequent Events          
Interest rate, basis points   2.50%      
Subsequent Event [Member] | Project Financing Facility | SOFR rate | Thereafter          
Subsequent Events          
Interest rate, basis points   3.00%      
Subsequent Event [Member] | Project Financing Facility | Base rate | First four years          
Subsequent Events          
Interest rate, basis points   1.50%      
Subsequent Event [Member] | Project Financing Facility | Base rate | Thereafter          
Subsequent Events          
Interest rate, basis points   2.00%      
Subsequent Event [Member] | Project Financing Facility | Liberty Bank and Fifth Third Bank          
Subsequent Events          
Funds released from restricted cash   $ 11,200,000      
Subsequent Event [Member] | Project Financing Facility | PNC Energy Capital, LLC          
Subsequent Events          
Number of leased projects ownership reacquired | project   3      
Subsequent Event [Member] | Project Financing Facility | Bridgeport Fuel Cell Project [Member] | Liberty Bank, Fifth Third Bank and Connecticut Green Bank          
Subsequent Events          
Encumbrance amount   $ 11,400,000      
Subsequent Event [Member] | Project Financing Facility | Pfizer Project | PNC Energy Capital, LLC | Sale-leaseback Arrangements with PNC          
Subsequent Events          
Lease buyout amount   15,700,000      
Subsequent Event [Member] | Project Financing Facility | Riverside Regional Water Quality Control Plant Project | PNC Energy Capital, LLC | Sale-leaseback Arrangements with PNC          
Subsequent Events          
Lease buyout amount   3,700,000      
Subsequent Event [Member] | Project Financing Facility | Santa Rita Jail Project | Sale-leaseback Arrangements with PNC          
Subsequent Events          
Lease buyout amount   $ 2,800,000      
Subsequent Event [Member] | Project Financing Facility | LIPA Yaphank Solid Waste Management Project [Member]          
Subsequent Events          
Extension term of gas agreement   3 years      
Period to exercise option to purchase member interest in tax equity partnership   6 months      
Subsequent Event [Member] | Project Financing Facility | Minimum          
Subsequent Events          
Debt service coverage ratio   1.20%      
Annual operating expense budget approval from lenders, lending percent   50.00%      
Subsequent Event [Member] | Term loan          
Subsequent Events          
Debt Instrument, Face Amount   $ 80,500,000      
Funds released from restricted and unrestricted reserve account   7,300,000      
Gross proceeds from debt   80,500,000      
Subsequent Event [Member] | Letter of credit          
Subsequent Events          
Line of credit facility, maximum borrowing capacity   $ 6,500,000