Item 2. Properties
ITEM 2. PROPERTIES.
Leases
As of December 31, 2021, we leased all of our
locations, including our corporate offices in Castle Rock, Colorado, Austin, Texas and Costa Mesa, California, ESS Metron’s corporate
offices and manufacturing facilities in Denver, Colorado, and our Whinstone Facility in Rockdale, Texas, which is subject to a long-term
ground lease. At December 31, 2020, we did not have any significant operating lease balances.
See Note 11, “Leases” to the notes
to our Consolidated Financial Statements in Part II, Item 8. “Financial Statements and Supplementary Data” beginning on page
53 of this Annual Report for further discussion of our accounting policies relating to our leased premises.
Management believes its leased facilities are adequate for the Company’s
near-term needs.
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