−Removed: Our corporate headquarters is located in Fremont, California, where we leased approximately 26,000 square feet of space as of December 31, 2022.
−Removed: In January 2023, we expanded our corporate headquarters by leasing approximately 25,000 square feet of additional space in the same building and extending the lease term through June 2027.
−Removed: Our headquarters facility is used for research and development, manufacturing and production, sales and administrative functions.
−Removed: On January 20, 2023, we entered into a nonbinding letter of intent to lease premises consisting of approximately 774,000 square feet of space located in Brighton, Colorado.
−Removed: Execution of the lease agreement remains subject to ongoing negotiations.
−Removed: In order to meet increased demand for our products, we plan to design and build our GWh-scale manufacturing facility on these premises.
+Added: We lease our corporate headquarters and manufacturing facilities, which consisted of the following as of December 31, 2023:
+Added: • Approximately 51,000 square feet of leased space located in Fremont, California.
+Added: This leased property, which is being used for our corporate headquarters, research and development, and manufacturing, expires in June 2027 with an option to extend for an additional 5-year period up to June 2032.
+Added: • Approximately 774,000 square feet of leased space located in Brighton, Colorado.
+Added: This leased property, which will be used to build our GWh-scale manufacturing facility, expires in May 2039 with an option to extend for two additional 5-year periods up to May 2049.
We believe that our facilities are adequate to meet our needs for the immediate future, and that, should it be needed, suitable additional space will be available to accommodate any such expansion of our operations.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.