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- Controlled Thermal Resources
Controlled Thermal Resources Acquisition, Valuation, Funding & Investors
Controlled Thermal Resources was acquired by Plum Acquisition Corp IV for $4.7B in March 2026.
Controlled Thermal Resources acquisition price
$4.7B
Acquired by Plum Acquisition Corp IV · Mar 2026
Cumulative funding Controlled Thermal Resources raised
$13M
across 1 funding round
About Controlled Thermal Resources
Controlled Thermal Resources is a geothermal energy company that extracts battery-grade lithium from brine while generating clean power at its Hell's Kitchen project in California's Salton Sea region. The Imperial Valley-headquartered firm leverages direct lithium extraction technology to produce lithium carbonate from hypersaline geothermal fluids. It operates the only permitted lithium facility in the US Salton Sea Geothermal Field, with plans for a 45-megawatt power plant and initial lithium output starting in 2024. Partnerships include Chevron for technology development and offtake agreements with automakers like Ford. Founded in 2011, the company holds leases across 8,000 acres in the region.
Founded
2011
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Product sales
Valuation
$4.7B (acquired Mar 2026)
Controlled Thermal Resources Acquisition
Controlled Thermal Resources was acquired by Plum Acquisition Corp IV for $4.7B on 8 March 2026.
Before the acquisition Controlled Thermal Resources had raised $13M across 1 funding round.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 8 Mar 2026 | Strategic M&A | $4.7B |
Controlled Thermal Resources Funding History
Controlled Thermal Resources has raised a total of $13M across 1 funding round.
Controlled Thermal Resources funding rounds
| Date | Stage | Raised | Deal Summary |
|---|---|---|---|
| Mar 2023 | Series A | $13M | Controlled Thermal Resources develops geothermal power and lithium extraction projects, including its flagship Hell’s Kitchen project in California’s Imperial Valley. The project aims for up to 650 MW of renewable baseload electricity and 100,000 metric tons per year of lithium carbonate at full scale. The company raised more than $285 million in private capital prior to a planned public listing. |
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialControlled Thermal Resources Competitors
Controlled Thermal Resources competitors include listed companies like Tohoku Electric Power, Cosmo Energy Holdings, Hubei Energy and Crescent Energy, and private ones like Cepsa and Commonwealth Fusion Systems.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $12B | - | ||
| Publicly listed | $15B | $2.4B | $4.7B | 1.4x | ||
| Publicly listed | $17B | $1.3B | $4.7B | 0.5x | ||
| Publicly listed | $2.6B | $1.2B | $4.7B | 4.1x | ||
| Publicly listed | $3.6B | $1.7B | $4.7B | 2.2x | ||
| Private | - | - | $3.4B | - |
Controlled Thermal Resources Public Comps
Controlled Thermal Resources is no longer listed, but its public comps include Tohoku Electric Power, Cosmo Energy Holdings, Hubei Energy, Crescent Energy, Enel Generacion Chile, Enphase Energy, Pampa Energia, Transportadora de Gas del Sur, Whitehaven Coal and Oceaneering.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $15B | $2.4B | 1.4x | 1.4x | 8.9x | 8.1x | |||
| $17B | $1.3B | 0.5x | 0.5x | 6.3x | 6.5x | |||
| $2.6B | $1.2B | 4.3x | 4.1x | 9.2x | 10.7x | |||
| $3.6B | $1.7B | 2.7x | 2.2x | 5.8x | 3.7x | |||
| $3.1B | $884M | 1.6x | 1.7x | 5.7x | 5.4x | |||
| $1.5B | $227M | 3.0x | 3.5x | 19.4x | 12.5x | |||
| $2B | $1.1B | 3.0x | 2.5x | 5.4x | 5.4x | |||
| $1.1B | $597M | 3.8x | 3.2x | 7.2x | 6.0x | |||
This data is available for Pro users. Sign up to see all Controlled Thermal Resources competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Controlled Thermal Resources
| When was Controlled Thermal Resources founded? | Controlled Thermal Resources was founded in 2011. |
| Where is Controlled Thermal Resources headquartered? | Controlled Thermal Resources is headquartered in Saint Louis, MO, United States. |
| Is Controlled Thermal Resources publicly listed? | No, Controlled Thermal Resources was acquired by Plum Acquisition Corp IV in March 2026. |
| Who acquired Controlled Thermal Resources? | Controlled Thermal Resources was acquired by Plum Acquisition Corp IV in March 2026. |
| How much was Controlled Thermal Resources acquired for? | Controlled Thermal Resources was acquired for $4.7B in March 2026. |
| How much funding has Controlled Thermal Resources raised? | Controlled Thermal Resources has raised $13M across 1 funding round. |
| What was Controlled Thermal Resources' last funding round? | Controlled Thermal Resources' last funding round was a $13M Series A in March 2023. |
| Which companies are comparable to Controlled Thermal Resources? | Companies comparable to Controlled Thermal Resources include Cepsa, Tohoku Electric Power, Cosmo Energy Holdings, Hubei Energy, Crescent Energy and Commonwealth Fusion Systems. |
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