California-based lithium developer Controlled Thermal Resources (CTR) will go public through a $4.7 billion merger with blank-check company Plum Acquisition Corp IV.
The transaction will allow the combined entity to trade on the Nasdaq under the ticker “CTRH”, according to a joint announcement on Monday.
The deal is expected to close during the second half of 2026, pending regulatory approvals and standard closing conditions.
Controlled Thermal Resources is developing lithium extraction projects in California aimed at supporting the rapidly expanding electric-vehicle battery supply chain.
The company focuses on geothermal-based lithium production, a method designed to provide lower-emission extraction compared with traditional mining processes.
SPAC mergers remain a strategic route for emerging energy companies seeking faster access to public capital markets.
Financial advisory services for the transaction were provided by Hall Chadwick for Controlled Thermal Resources and Cohen & Company Capital Markets for Plum Acquisition Corp IV.
