Plum Acquisition (NASDAQ: PLMK) announced it has entered into a non-binding letter of intent with American Critical Resources, a subsidiary of Controlled Thermal Resources Holdings Inc., for a proposed business combination aimed at accelerating the development of a strategically significant U.S.-based geothermal energy and critical minerals platform. The transaction would bring American Critical Resources public on a national securities exchange and support advancement of CTR’s Hell’s Kitchen project at California’s Salton Sea, a globally significant geothermal lithium resource. The project is designed to deliver renewable baseload power alongside large-scale domestic lithium production, with additional upside from the potential recovery of other critical minerals identified as vital to U.S. energy security, manufacturing, and defense.
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About Plum Acquisition Corp. IV
Plum Acquisition Corp. IV (NASDAQ: PLMK) is a publicly traded special purpose acquisition company led by an experienced team with a track record of sourcing and executing complex public-market transactions, Plum IV aims to identify companies positioned to deliver long-term value through technological advancements, disruptive business models, and secular long-term trends.
For more information, visit https://plumpartners.com/
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