Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment, net

Property, Plant and Equipment, net

9 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Abstract]

Property, plant and equipment at September 30, 2024 and December 31, 2023 consisted of the following:


	Estimated Useful Life (in Years)	September 30, 2024		December 31, 2023
Energy systems	10 - 15 years	$	2,810,232	$	2,810,232
Machinery and equipment	5 - 7 years	1,639,719		1,744,596
Furniture and fixtures	5 years	224,869		212,963
Computer software	3 - 5 years	192,865		192,865
Leasehold improvements	*	2,685		466,789
Construction in progress		786,507		—
		5,656,877		5,427,445
Less - accumulated depreciation and amortization		(3,957,479)		(4,264,868)
Property, plant and equipment, net		$	1,699,398	$	1,162,577

* Lesser of estimated useful life of asset or lease term

Depreciation and amortization expense on property and equipment for the three and nine months ended September 30, 2024 and 2023 was $101,780 and $307,491 and $112,783 and $352,192, respectively. Construction in progress are costs incurred since April 1, 2024 for initial improvements required to the North Billerica, Massachusetts leased premises which are estimated to range between $850,000 and $1,000,000.