California Lithium Developer CTR to Go Public in $4.7 Billion SPAC Deal to Accelerate Geothermal and Lithium Project

California Lithium developer Controlled Thermal Resources (CTR) is set to go public through a $4.7 billion merger with special purpose acquisition company Plum Acquisition. The deal will accelerate development of the Hell's Kitchen project, one of the largest geothermal and lithium developments in the US. Proceeds will support the first phase of construction, which aims to produce up to 25,000 metric tons of lithium carbonate annually, along with 50-megawatt geothermal power. The project combines clean energy generation with lithium extraction from geothermal brine.