Controlled Thermal Resources Goes Public: $4.7B Merger
Fresno News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Controlled Thermal Resources, a lithium developer, is set to go public via a $4.7 billion merger with Plum Acquisition Corp. This SPAC deal provides the necessary funds for Controlled Thermal Resources to advance its Hell’s Kitchen project in California, aiming for 25,000 metric tons of lithium carbonate production annually, a clean power plant, and other key mineral outputs. The company has already secured over $285 million from private investors. The merger is expected to conclude in the second half of the year, with the new company trading on Nasdaq under the symbol C T R H. The surge in AI and data center growth, straining the power grid, underscores the urgent need for reliable low carbon energy.
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