7. Financing Lease

In February 2024, the CGN JV entered into a lease agreement for certain equipment under separate non-cancelable equipment loan and security agreements. The agreement matures in January 2030. The agreements require monthly payments of principal and interest through maturity and are secured by the assets under the lease. As of June 30, 2024, $394 thousand is included in the property and equipment on the balance sheet. The weighted average interest rate was 9.1% at June 30, 2024.

The following table presents information about the amount and timing of the liability arising from the Company’s financing lease as of June 30, 2024 ($ in thousands):

 Schedule of Future Minimum Financing Lease Payments