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...
“The Water Is Hot!” – Successful Geothermal Drilling in Laufzorn Powers Grünwald’s Energy Future
Grünwald, October 23, 2025 – A dramatic plume of white steam over Laufzorn recently caught the attention of residents in nearby Oberhaching, prompting several calls to the local fire department. But there was no fire — the vapor marked a breakthrough moment for renewable energy in the region.
“The water is hot!” announced Grünwald’s Mayor Jan Neusiedl (CSU) after the first geothermal drilling at Laufzorn II struck success. The discovery marks a major step forward in the community’s plan to secure sustainable heating for future generations.
A Major Milestone for Renewable Heat
The successful test pumping confirmed results similar to the earlier Laufzorn I project — with temperatures well above 100°C and a flow rate exceeding 100 liters per second. These promising figures ensure the project’s technical viability and future operational stability.
Mayor Neusiedl highlighted the achievement during a municipal council meeting, where the economic plans for both Erdwärme Grünwald (EWG) and Geothermie Unterhaching were approved.
EWG Managing Director Andreas Lederle shared the optimism:
“We’re relieved and thrilled that the first drilling went so smoothly. It’s the foundation for the heating supply of future generations in Grünwald.”
With the initial drilling complete, the rig will now move to the reinjection site. The second phase of drilling is expected to begin in early November.
Rapid Expansion in Home Connections
The geothermal network in Grünwald continues to grow at an impressive pace. According to Lederle, around 2,200 households have now signed up for connection — approximately 70 percent of all potential customers. This exceeds the original forecast of 1,700 connections.
The expansion benefits from significant federal support: EWG has received a €3.6 million funding approval, covering 40 percent of eligible project costs. “Essentially, we can now bill every house connection we build and have 40 percent reimbursed,” said Lederle.
Europe’s Largest Geothermal Network
Erdwärme Grünwald operates the largest geothermal district heating network in continental Europe, consisting of 120 kilometers of pipelines in Grünwald and 65 kilometers in nearby Unterhaching. Combined annual revenues from both systems total €25–26 million.
Grünwald also offers the lowest geothermal heating prices in the Munich district, underscoring the project’s financial stability and community value.
Originally budgeted at €160 million, the Laufzorn II expansion now includes two additional boreholes to fully exploit the geothermal field’s capacity. As a result, the total investment rises to €190 million, while the federal funding is expected to increase to €75 million.
Due to the limited construction space on-site, the completion and commissioning of the new heating plant have been postponed from 2027 to 2028.
Security and Future Funding
Security has become a growing concern since past attacks on energy infrastructure in Germany. While the Laufzorn site is well-protected, standard insurance does not typically cover terrorist incidents. Lederle has therefore asked the local council for support in financing an additional insurance policy.
“It’s not expensive, but it ensures we’re protected,” he noted.
In addition, €4.3 million in federal funding has been received for the northern connection project, part of a €12 million investment to expand and strengthen the regional heating network.
A Hot Future Ahead
With successful drilling results, strong customer demand, and stable financial backing, Grünwald’s geothermal initiative continues to serve as a national model for clean and reliable heating.
As Mayor Neusiedl summed it up:
“The water is hot — and so is the future of Grünwald’s energy.”
Source: MERKU
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