Plum Acquisition Corp. IV and Controlled Thermal Resources Outline a Large-Scale Geothermal and Critical Minerals Platform Plum Acquisition Corp. IV (“Plum IV”) and Controlled Thermal Resources Holdings Inc. (“CTR”) are moving toward a proposed business combination that would create a public company focused on one of the most ambitious geothermal and critical minerals developments in the United States. The combined entity is expected to trade on Nasdaq under the pro forma ticker CTRH, reflecting a platform built around clean baseload power, lithium recovery, and broader critical minerals production. The investor presentation dated August 2026 frames the transaction around CTR’s Hell’s Kitchen project in Imperial County, California, which is presented as a strategically positioned resource opportunity with energy, minerals, infrastructure, and permitting advantages. At the center of the presentation is a clear message: this is not just a power project, and it is not j...
Szczecin Bets on Geothermal Energy: Tender Announced for First Exploration Well
By: Robert Buluma
On September 23, 2025, the city of Szczecin officially launched a tender for the construction of its first geothermal exploration well at Dąbska Street. This marks a major milestone in the city’s energy transition, as Szczecin looks to tap into the natural heat beneath its soil as a modern and sustainable energy source.
Backed by National Environmental Funding
The investment is valued at 12.9 million PLN, with most of the financing secured from the National Fund for Environmental Protection and Water Management(NFOŚiGW). The project is part of the national program “Making Thermal Waters Available in Poland”, which supports municipalities in exploring and utilizing geothermal energy for heating and power generation.
Thanks to this funding, Szczecin plans to drill the Szczecin GT-2 well to a depth of nearly 2,000 meters. At this depth, experts expect to encounter geothermal waters with temperatures ranging between 60 and 80°C.
Szczecin’s Geothermal Potential
The region of Szczecin is among Poland’s most promising geothermal zones. Studies show that the heat flux in this area reaches 90–100 mW/m², one of the highest values in the country.
Although these figures are highly encouraging, only the test well will provide precise data on water parameters, costs, and the long-term feasibility of the project.
Step by Step: How the Project Moves Forward
The first stage was the appointment of a geological supervision company, a role taken on by Multiconsult Polska in July 2025. The next step is selecting the drilling contractor, who will have 12 months to complete the well. An additional 6 months will be required for hydrogeological documentation and analysis.
The deadline for submitting bids is October 3, 2025, at 9:00 AM. Whilst interested parties can get access here on how to tender.
Why Does This Matter?
Geothermal projects offer more than just clean energy they provide a concrete path toward cutting CO₂ emissions, reducing reliance on fossil fuels, and building energy independence. If successful, Szczecin’s geothermal heat could be integrated into the city’s heating system, supplying residents with stable, renewable, and eco-friendly warmth.
As experts point out, this is only the beginning of the journey but Szczecin is already positioning itself as one of Poland’s geothermal pioneers.
👉 This project could serve as a blueprint for other cities in Poland and beyond, seeking alternatives to coal and gas while unlocking the untapped power of geothermal energy.
Source: Portal Samor Zadowy
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