Plum IV and American Critical Resources announce LOI for business combination

Plum Acquisition Corp, IV

Non-binding LOI for SPAC merger with ACR, subsidiary of Controlled Thermal Resources.
ACR's Hell's Kitchen project in CA targets 50 MW geothermal power and ~100,000 tpa lithium.
Presentation cites 12 years development, $285M invested, Stage 1 shovel-ready.
No definitive agreement; completion subject to due diligence, board/regulatory approvals.
ACR integrates geothermal power with direct lithium extraction for critical minerals.

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