Stellantis-backed geothermal startup Controlled Thermal Resources plans Nasdaq IPO

Controlled Thermal Resources, backed by Stellantis and focused on extracting geothermal energy and lithium from California's Salton Sea, is converting $205 million in debt to equity and targeting a 2024 Nasdaq listing.

First covered Oct 1, 2026 · 3:00 AM PT · 1 article

Stellantis-backed geothermal startup Controlled Thermal Resources plans Nasdaq IPO — Image via heatmap.news

Coverage

16h Heatmap News Exclusive: Stellantis-Backed Geothermal Startup Prepares to SPAC — California’s inland Salton Sea is a potential clean energy double dip, with vast and largely untapped geothermal hotspots for generating heat and electricity…

More coverage from around the web

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enverus.com Geothermal Goes Public

Appeared in: 2026-10-01 (#1) · 2026-10-02 (#5)

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