Financial Performance - For the quarter ended March 31, 2024, LanzaTech reported revenue of $10,244,000, a 6% increase from $9,646,000 in the same quarter of 2023 [190]. - The net loss for the quarter was $(25,508,000), a significant improvement of 60% compared to a net loss of $(63,312,000) for the same period last year [190]. - One-time revenue increased by 9% to $9,682,000 from $8,889,000 year-over-year, while recurring revenue decreased by 26% to $562,000 from $757,000 [190]. - Total revenue increased by $0.6 million, or 6%, to $10.244 million for the three months ended March 31, 2024, compared to $9.646 million in the same period in 2023 [216]. - Adjusted EBITDA for the quarter was $(22,148,000), a slight improvement of 6% from $(23,513,000) in the previous year [190]. - Adjusted EBITDA for Q1 2024 was $(22.1) million, an improvement from $(23.5) million in Q1 2023, with net loss reduced from $(63.3) million to $(25.5) million [251]. Operational Capacity - As of March 31, 2024, the company's total capacity reached 308,000 tonnes per annum, up from 150,000 tonnes per annum as of March 31, 2023, reflecting a significant expansion in operational capacity [193]. - LanzaTech has established six commercial waste gas-to-ethanol plants since 2018, with ongoing developments in various countries [183]. Expenses and Cash Flow - Selling, general, and administrative expenses decreased by 34% to $(11,037,000) from $(16,835,000) year-over-year [190]. - Cost of revenue decreased by $1.0 million, or 13%, to $6.770 million for the three months ended March 31, 2024, compared to $7.790 million in the same period in 2023 [217]. - Research and development expenses increased by $0.8 million, or 5%, to $17.061 million for the three months ended March 31, 2024, compared to $16.286 million in the same period in 2023 [218]. - Net cash used in operating activities decreased by $5.5 million or 16% to $(28.3) million for the three months ended March 31, 2024, compared to $(33.8) million for the same period in 2023 [240]. - Net cash provided by investing activities was $9.2 million in Q1 2024, a significant improvement from net cash used of $(50.5) million in Q1 2023, primarily due to the absence of a $49.1 million debt securities purchase in the prior year [241]. - Net cash used in financing activities was immaterial in Q1 2024, compared to $146.4 million in Q1 2023, which included $213.4 million from a Business Combination and PIPE financing [242]. Financial Position - The accumulated deficit as of March 31, 2024, was $(857,400,000), compared to $(831,900,000) as of December 31, 2023 [184]. - Cash, cash equivalents, and restricted cash decreased by $18.8 million, or 25%, to $57.449 million as of March 31, 2024, compared to $76.284 million as of December 31, 2023 [222]. - Held-to-maturity security investments totaled $34.8 million as of March 31, 2024, down from $45.2 million as of December 31, 2023 [224]. - The company believes existing cash and cash equivalents will be sufficient to fund operations for the next 12 months, but is evaluating several financing alternatives to enhance liquidity [236]. - The company does not have any outstanding debt, other than the Brookfield SAFE and related liabilities as of March 31, 2024 [229]. Market and Risk Factors - The company anticipates continued losses until sufficient commercialization of its technology is achieved [184]. - The company’s market risk exposure is primarily related to interest rate sensitivity, with an immediate change of 100 basis points expected to have no material impact on cash and cash equivalents [253]. - The company is subject to credit risk due to concentration of receivables with a limited number of significant customers, which could adversely affect gross margin and cash flows [258]. - Demand for CarbonSmart products may decrease with falling fossil fuel prices, while new environmental regulations could increase demand [257]. Other Income and Adjustments - Net interest income increased by $0.9 million, or 436%, to $1.148 million for the three months ended March 31, 2024, compared to $0.214 million in the same period in 2023 [220]. - Other income (expense), net improved by $30.6 million, resulting in $0.179 million for the three months ended March 31, 2024, compared to a loss of $30.396 million in the same period in 2023 [221]. - Foreign currency translation adjustments were $0.04 million in Q1 2024, compared to $(0.05) million in Q1 2023, indicating a positive shift in currency effects [254]. - The company reported cash outflows of $3.8 million related to Business Combination costs in Q1 2023, which did not recur in Q1 2024, contributing to improved cash flow from operations [240]. - The company did not engage in any off-balance sheet arrangements as of March 31, 2024 [243].

Financial Performance - The company incurred a net loss of approximately $134.1 million for the year ended December 31, 2023, compared to a loss of $76.4 million for the year ended December 31, 2022, with an accumulated deficit of $831.9 million as of December 31, 2023[205]. - The company has not achieved operating profitability in any quarter since its formation and anticipates continuing to incur losses until it can sufficiently scale operations[205]. - Financial results may vary significantly from quarter to quarter due to various unpredictable factors, making period-to-period comparisons challenging[235][236]. - The company may require additional financing to fund operations and development, which could lead to dilution of shares or increased debt obligations[238][242]. - The company has recorded a valuation allowance related to its net operating loss (NOL) carryforwards and other deferred tax assets due to uncertainty in realizing future benefits[312]. - As of December 31, 2023, the company had approximately $321 million in U.S. federal net operating loss carryovers to offset future taxable income[310]. Operational Risks - The company faces significant risks associated with the maintenance, expansion, and refurbishment of facilities, which could reduce production capacity and ultimately revenues[220]. - The construction of plants by the company and its partners may not be completed on time or within budget, which could severely impact business prospects[215]. - The company anticipates that fluctuations in the prices of waste-based feedstocks may affect its cost structure and ability to compete[204]. - The availability of waste-based feedstocks is uncertain and could lead to production delays or increased prices, reducing demand and revenue[229]. - The company faces significant risks related to the enforcement and validity of its patents, which may be challenged by third parties[336]. - The company may face difficulties in managing acquisitions and integrating new technologies, which could adversely affect its financial condition[301]. Market and Competitive Landscape - The company competes in a rapidly advancing industry with indirect competition from companies with greater resources, which could adversely affect market share[230][232]. - The company's commercial success is influenced by the price of fossil feedstocks relative to waste-based feedstocks, impacting competitiveness and revenues[224]. - The company does not believe it has direct competitors producing similar sustainable, waste-based products, leading to a limited referenceable market[330]. - The largest contracting entity accounted for 38% of the company's revenue for the fiscal year ended December 31, 2023, up from 22% in 2022[272]. - The company expects to generate most of its revenues through a limited number of industry partners until the end of 2024[271]. Regulatory and Compliance Issues - The company is subject to extensive international laws and regulations, and any changes could adversely affect its business[206]. - The company faces risks related to international expansion, including compliance with diverse legal environments and potential instability in foreign countries[213]. - Regulatory scrutiny of genetically engineered microbes may impose additional costs and challenges for the company[290]. - The company is subject to extensive environmental laws and regulations, and any changes could materially affect its ability to manufacture and commercialize its products[281]. - Governmental programs incentivizing low-carbon fuels may not include products from the company’s technology platform, impacting its business[264]. Intellectual Property and Technology - The company relies on trade secrets and confidentiality agreements to protect proprietary technology, but these measures may not be fully effective[342]. - The company depends on licensed technologies, and any loss of these rights could hinder its ability to develop or sell its process technologies[349]. - The company’s ability to commercialize products is contingent upon not infringing on third-party intellectual property rights, which could lead to costly legal proceedings[340]. - The company may face expensive and time-consuming lawsuits to protect its patents, which could result in adverse outcomes affecting patent validity[354]. - The company’s strategic partnerships may lead to disputes over intellectual property ownership, which could negatively affect commercialization plans[346]. Financial and Operational Controls - The company identified material weaknesses in internal control over financial reporting, which could adversely affect the accuracy and timeliness of financial reporting[375]. - As of December 31, 2023, the company's internal control over financial reporting was deemed ineffective due to weaknesses in accounting for complex transactions and revenue recognition[376]. - The company may face litigation risks due to identified material weaknesses in internal control over financial reporting, which could adversely affect business and financial condition[382]. External Factors and Economic Conditions - Supply chain challenges, including disruptions and increased costs, could materially impact the company's operations and financial results[305]. - Inflation has materially affected the company's business, particularly increasing costs of labor, laboratory supplies, consumables, and equipment[512]. - Changes in interest rates and capital availability may affect investment decisions by industry partners, potentially impacting the company's results[300]. - The company operates in China and is subject to significant political and economic uncertainty, which may adversely impact its revenue and operations[317]. - The Chinese government exercises substantial control over the economy, and any new regulations could require additional compliance efforts and expenditures[320].

Revenue Performance - For the three months ended September 30, 2023, revenue increased by 143% to $19.6 million compared to $8.1 million in the same period of 2022[187]. - For the nine months ended September 30, 2023, total revenue was $42.2 million, representing a 64% increase from $25.8 million in the same period of 2022[190]. - Total revenue increased by $11.5 million, or 143%, in Q3 2023 compared to Q3 2022, driven by engineering services and licensing revenue[215]. - Total revenue for the nine months ended September 30, 2023, increased by $16.4 million, or 64%, compared to the same period in 2022[222]. Net Loss and Financial Performance - The net loss for the three months ended September 30, 2023, was $(25.3) million, a 14% increase from $(22.3) million in the prior year[178]. - Loss from operations for Q3 2023 was $24.6 million, compared to $20.6 million in Q3 2022, reflecting a 19% increase in losses[214]. - Net loss for Q3 2023 was $25.3 million, compared to $22.3 million in Q3 2022, representing a 14% increase in losses[214]. - Comprehensive loss for Q3 2023 was $26.3 million, compared to $22.7 million in Q3 2022, indicating a 16% increase in losses[214]. - The accumulated deficit as of September 30, 2023, reached $(813.2) million, up from $(456.2) million as of December 31, 2022[178]. Cost of Revenue and Expenses - The cost of revenues (excluding depreciation) for the three months ended September 30, 2023, was $(14.4) million, a 141% increase from $(6.0) million in the same period of 2022[187]. - Cost of revenue rose by $8.4 million, or 141%, in Q3 2023 compared to Q3 2022, primarily due to higher revenue performance and inflation in costs[216]. - Cost of revenue for the nine months ended September 30, 2023, increased by $13.8 million, or 72%, compared to the same period in 2022[223]. - R&D expenses increased by $2.4 million, or 17%, in Q3 2023 compared to Q3 2022, mainly due to stock compensation and personnel costs[217]. - R&D expenses increased by $12.0 million, or 30%, for the nine months ended September 30, 2023, compared to the same period in 2022[224]. - SG&A expenses increased by $4.6 million, or 63%, in Q3 2023 compared to Q3 2022, driven by external services and stock compensation[218]. - SG&A expenses rose by $21.6 million, or 111%, for the nine months ended September 30, 2023, primarily due to one-time professional services fees related to the Business Combination[225]. Cash Flow and Financing - Cash and cash equivalents increased by $8.4 million, or 10%, as of September 30, 2023, compared to December 31, 2022, primarily due to the Business Combination and PIPE financing[228]. - Net cash used in operating activities was $(81.6) million for the nine months ended September 30, 2023, driven by a net loss of $(115.4) million[244]. - Net cash used in investing activities was $(116.6) million for the nine months ended September 30, 2023, primarily due to investments in debt securities and the Forward Purchase Agreement[246]. - Net cash provided by financing activities was $207.4 million for the nine months ended September 30, 2023, driven by proceeds from the Business Combination and PIPE financing[248]. - The company believes existing cash and cash equivalents will be sufficient to fund operations for at least the next 12 months[241]. Company Developments and Future Outlook - The company expects to drive higher revenues through engineering services and sales of equipment packages on key projects, alongside growth in its CarbonSmart business[179]. - The company has established five commercial waste gas-to-ethanol plants since 2018, with ongoing developments in various countries[177]. - The company will lose its Emerging Growth Company (EGC) status as of December 31, 2023, and will become a large accelerated filer[264]. - The company has not issued any dividends and does not anticipate issuing dividends on its common stock, estimating the dividend yield to be zero[263]. Other Financial Information - Interest income, net increased by $1.2 million in Q3 2023 compared to Q3 2022, attributed to higher cash balances and amortization of discounts on securities[219]. - Interest income, net increased by $3.2 million for the nine months ended September 30, 2023, attributed to higher cash balances post-Business Combination[226]. - Other expenses, net increased by $(28.8) million for the nine months ended September 30, 2023, mainly due to net losses on changes in the fair value of financial instruments[227]. - Held-to-maturity security investments totaled $44.8 million as of September 30, 2023, with no such investments as of December 31, 2022[229]. - The fair value of the prepaid forward contract derivative was estimated using a Monte-Carlo Simulation, with the future stock price simulated under a Geometric Brownian Motion framework[252]. - As of September 30, 2023, the fair value of the Fixed Maturity Consideration was estimated within the same Monte-Carlo simulation as the prepaid forward contract[253]. - Foreign currency translation adjustments were $(1.00) million for the three months ended September 30, 2023, compared to $(0.38) million for the same period in 2022[273]. - Inflation had a material effect on the company's business, particularly impacting costs of revenues[276]. - The company primarily invests in short-term securities, limiting risk exposure to interest rate fluctuations[272]. - The company has accounted for stock-based compensation in accordance with ASC 718, with expenses recognized based on the grant date fair value[254].

Financial Performance - For the three months ended June 30, 2023, revenue increased by 31% to $12.9 million compared to $9.9 million in the same period of 2022[179]. - Net loss for the three months ended June 30, 2023, was $(26.8) million, a 68% increase from $(15.9) million in the same period of 2022[172]. - Total revenue for the six months ended June 30, 2023, was $22.6 million, up 27% from $17.7 million in the same period of 2022[183]. - Comprehensive loss for the three months ended June 30, 2023, was $26.7 million, a 64% increase compared to $16.3 million in the same period of 2022[210]. - Net loss for Q2 2023 was $26.786 million, compared to a net loss of $15.929 million in Q2 2022, representing an increase of 68.5%[271]. - Adjusted EBITDA for Q2 2023 was $(23.823) million, compared to $(17.886) million in Q2 2022, indicating a decline of 33.1%[271]. Revenue Breakdown - One-time revenue for the three months ended June 30, 2023, was $11.5 million, a 28% increase from $9.0 million in the same period of 2022[179]. - Recurring revenue for the three months ended June 30, 2023, was $1.5 million, representing a 68% increase from $0.9 million in the same period of 2022[179]. - Total revenue increased by $3.1 million, or 31%, to $12.9 million for the three months ended June 30, 2023, compared to $9.9 million in the same period in 2022[210]. - Total revenue for the six months ended June 30, 2023, increased by $4.9 million, or 27%, to $22.6 million compared to $17.7 million in the same period in 2022[218]. Expenses - Selling, general, and administrative expenses for the three months ended June 30, 2023, were $(12.5) million, a 74% increase from $(7.1) million in the same period of 2022[179]. - R&D expenses rose by $5.7 million, or 43%, to $18.9 million for the three months ended June 30, 2023, primarily due to increased personnel and consumables expenses[214]. - SG&A expenses increased by $5.3 million, or 74%, to $12.5 million for the three months ended June 30, 2023, driven by higher external services and stock compensation awards[215]. - R&D expenses increased by $9.6 million, or 37%, in the six months ended June 30, 2023, compared to the same period in 2022[222]. - SG&A expenses rose by $17.1 million, or 140%, in the six months ended June 30, 2023, primarily due to one-time professional services fees related to the Business Combination[223]. Cash Flow and Investments - Net cash used in operating activities was $(59.1) million for the six months ended June 30, 2023, driven by a net loss of $(90.1) million[243]. - Net cash used in investing activities was $(120.0) million for the six months ended June 30, 2023, primarily due to investments in debt securities and the Forward Purchase Agreement[245]. - Net cash provided by financing activities was $206.8 million for the six months ended June 30, 2023, driven by proceeds from the Business Combination and PIPE financing[247]. - Cash, cash equivalents, and restricted cash increased by $27.7 million, or 33%, as of June 30, 2023, compared to December 31, 2022, primarily due to the Business Combination[227]. - Debt security investments totaled $49.7 million as of June 30, 2023, with no such investments as of December 31, 2022[228]. Business Developments - The business combination with AMCI was completed on February 8, 2023, resulting in the formation of LanzaTech Global, Inc.[174]. - The company anticipates that CarbonSmart business revenues will significantly exceed 2022 performance due to planned commercial campaigns[173]. Accounting and Valuation - As of June 30, 2023, the company has made two changes to its critical accounting policies and estimates[250]. - The fair value of the prepaid forward contract derivative was estimated using a Monte-Carlo Simulation, with the future stock price simulated under a Geometric Brownian Motion framework[251]. - The fair value of the Fixed Maturity Consideration was estimated using the same Monte-Carlo simulation as the prepaid forward contract[252]. - The company has chosen to account for certain financial instruments under the Fair Value Option, impacting its balance sheet as of June 30, 2023[252]. Market Conditions - The company expects to continue facing market risks related to interest rates, inflation, and foreign currency fluctuations[272]. - Inflation did not have a material effect on the company's business or financial condition during the first half of 2023[277].

Financial Performance - For the three months ended March 31, 2023, LanzaTech reported revenue of $9,646,000, a 23% increase from $7,857,000 in the same period of 2022[175]. - The net loss for the three months ended March 31, 2023, was $(63,312,000), representing a 277% increase compared to $(16,778,000) for the same period in 2022[175]. - One-time revenue increased by 28% to $8,889,000 in Q1 2023 from $6,957,000 in Q1 2022, while recurring revenue decreased by 16% to $757,000 from $900,000[175]. - Total revenue increased by $1.8 million, or 23%, to $9.646 million for the three months ended March 31, 2023, compared to $7.857 million in the same period in 2022[200]. - Net loss for the three months ended March 31, 2023, was $63.312 million, compared to a net loss of $16.778 million in the same period in 2022, representing a 277% increase[199]. - Adjusted EBITDA for the three months ended March 31, 2023, was $(27.6) million, compared to $(14.8) million for the same period in 2022[240]. Expenses - The cost of revenues (excluding depreciation) rose by 34% to $(7,790,000) in Q1 2023 from $(5,829,000) in Q1 2022[175]. - Selling, general, and administrative expenses surged by 232% to $(16,835,000) in Q1 2023 compared to $(5,078,000) in Q1 2022[175]. - Research and development expenses increased by $3.9 million, or 32%, to $16.286 million for the three months ended March 31, 2023, driven by personnel and stock compensation expenses[202]. - Selling, general and administrative expenses surged by $11.8 million, or 232%, to $16.835 million for the three months ended March 31, 2023, largely due to one-time professional services fees[203]. Cash and Financing - Cash, cash equivalents, and restricted cash increased by $62.1 million, or 74%, to $145.786 million as of March 31, 2023, primarily due to the closing of the Business Combination[205]. - The completion of the Business Combination resulted in $153.3 million of cash proceeds to the company[217]. - The company believes existing cash and cash equivalents will be sufficient to fund operations for at least the next 12 months[219]. - The company may require additional financing to meet operating requirements, which could lead to dilution for existing stockholders if raised through equity[220]. - Net cash used in operating activities was $(33.8) million, an increase of 87% compared to $(18.1) million in the same period of 2022[222][223]. - Net cash provided by financing activities for the three months ended March 31, 2023, was $206.5 million, driven by $213.4 million in proceeds from the Business Combination and PIPE financing[225]. Capacity and Operations - New capacity additions reached 60,000 tonnes per annum as of March 31, 2023, compared to 0 tonnes in the previous year, marking a significant increase[179]. - Cumulative capacity additions increased by 67% to 150,000 tonnes as of March 31, 2023, up from 90,000 tonnes in 2022[179]. - LanzaTech has not achieved operating profitability since its formation, with an accumulated deficit of $(761,100,000) as of March 31, 2023, compared to $(456,200,000) as of December 31, 2022[169]. - The company anticipates continued losses until it sufficiently commercializes its technology[169]. - LanzaTech's business model primarily involves licensing its technology, with royalty fees based on the revenue generated from its use[168]. Financial Instruments and Reporting - The company did not engage in any off-balance sheet arrangements as of March 31, 2023[227]. - The fair value of the prepaid forward contract derivative was estimated using a Monte-Carlo Simulation, reflecting the company's approach to financial instrument valuation[229]. - The company remains classified as an "emerging growth company" and a "smaller reporting company," allowing it to take advantage of reduced disclosure obligations[231][233]. - The company experienced a foreign currency translation adjustment of $(0.05) million for the three months ended March 31, 2023, compared to $(0.03) million in the same period of 2022[243].

Sustainable Fuel Production - LanzaTech produced over 54 million gallons of fuel-grade ethanol, mitigating over 275,000 tons of CO2 emissions since May 2018[27]. - The global addressable market for sustainable aviation fuel (SAF) is estimated at $180 billion, with a mandated global SAF demand expected to reach 61 billion gallons per year by 2040[41][45]. - The company maintains a 25% ownership stake in LanzaJet, which is set to begin producing SAF at a 10 million gallon commercial-scale facility in 2023[29]. - LanzaJet's ATJ process can achieve up to 80% GHG reduction compared to fossil fuels, with a high potential jet yield of 90%[88]. - The LanzaJet facility in Soperton, Georgia, is expected to produce 10 million gallons per year of sustainable aviation fuel and renewable diesel[91]. - Project DRAGON aims to produce 100 million liters per year of sustainable aviation fuel by 2026-2027, supported by £3.15 million in grant funding[94][95]. Environmental Impact - Approximately two tons of CO2 are removed per ton of CarbonSmart product made, highlighting the environmental benefits of LanzaTech's offerings[41]. - The first commercial facility in China has sold over 40 million gallons of ethanol, displacing fossil gasoline and avoiding over 200,000 tons of CO2 emissions[52]. - LanzaTech's gas fermentation technology has operated for 100,000 hours across four sites, producing over 54 million gallons of fuel-grade ethanol and mitigating over 275,000 tons of CO2 emissions[82]. - The company aims to create a circular carbon economy by locking carbon into chemical building blocks, reducing the need for virgin fossil resources[51]. Technology and Innovation - LanzaTech's technology platform is designed to utilize a variety of waste feedstocks, including industrial gases and municipal solid waste, to produce sustainable fuels and chemicals[24]. - The company has developed a proprietary technology platform for gas fermentation, enabling the production of various chemicals from multiple feedstocks at the same facility[49]. - The gas fermentation process is uniquely tolerant to variability in waste gas composition, allowing for a diverse range of feedstocks and products[72]. - The company’s technology platform is designed to achieve over 90% carbon utilization efficiency when coupled with hydrogen sources[75]. - LanzaTech's synthetic biology platform enables the production of additional chemical products, including ethylene, isopropanol, and acetone directly from gases[107]. - LanzaTech has achieved direct continuous production of ethylene from CO, creating a new non-fossil fuel pathway, with a projected global market value of $170 billion by 2030[108]. - The company has produced over 50 target products, demonstrating control over stereospecificity and identifying over 500 pathways for molecule production using proprietary predictive microbial modeling[110]. Market Opportunities - The chemicals sector is projected to account for over a third of the growth in oil demand to 2030, with petrochemical feedstock currently accounting for 12% of global oil demand[46]. - The plant-based protein market is estimated to be valued at $162 billion by 2030, indicating a growing demand for alternative protein sources[47]. - The global fertilizer market is valued at approximately $150 billion, with LanzaTech's microbial protein seen as a potential low-maintenance fertilizer[105]. Financial Performance - The company has incurred net losses of approximately $76.4 million for the twelve months ended December 31, 2022, and an accumulated deficit of $456.2 million as of the same date[206]. - The ongoing COVID-19 pandemic has adversely impacted the company's business and financial condition, leading to disruptions in demand and delays in project timelines[202][205]. - The company has not achieved operating profitability since its formation and anticipates continuing to incur losses until it can commercialize its technologies[206]. Partnerships and Agreements - The company has established partnerships with industry leaders, including ArcelorMittal and Suncor, to operate multiple commercial-scale facilities utilizing its technology[54]. - The LanzaJet Investment Agreement aims to facilitate the production of sustainable aviation fuel (SAF) through a demonstration facility in Georgia, with potential second tranche investments from partners[128]. - The Mitsui Alliance Agreement mandates Mitsui to promote gasification and waste-to-ethanol technology in Japan, with LanzaTech designating Mitsui as the preferred provider of investment and off-take services[143]. - The Shougang Joint Venture has exclusive rights to use LanzaTech's technology for producing fuel ethanol from steel mill and ferroalloy off-gas in China[157]. Risks and Challenges - The company faces significant risks in its international expansion strategy, including compliance with diverse legal environments and U.S. laws applicable to overseas operations[212]. - Construction of new plants may not be completed on time or cost-effectively, impacting financial performance and operational results[214]. - Delays in construction due to various factors, including the COVID-19 pandemic and geopolitical issues, could severely impact the company's business and financial condition[215]. - Maintenance and unexpected operational failures of facilities could reduce production capacity and profitability, impacting revenues[219]. - Major modifications to facilities may result in substantial additional capital expenditures and prolong the time to bring facilities online[220]. Employee and Operational Information - The company has over 390 full-time equivalent employees as of February 28, 2023, with no labor strikes or collective bargaining agreements[199]. - The company relies heavily on industry partners for project execution and growth, with potential risks associated with maintaining these relationships[207].