Project Information

Project Title

Hell's Kitchen Critical Minerals & Power

Sector

Sector:Mining

Project Location Address

Coordinates

• Latitude: 33.220622
  Longitude: 115.580425

Project Sponsor Contact Information

• Company Name/Agency: Controlled Thermal Resources Holdings Inc.
  Project Sponsor: Controlled Thermal Resources (US) Inc.
  Street Address 1 : 124 W 9th Street
  Street Address 2 (Optional): Suite 101
  City: Imperial
  State: California
  Zip Code: 92251
  POC Name: James T. Turner
  POC Title: President
  POC Phone: (760) 604-0433
  POC Email Address: jim.turner@cthermal.com

Alternative Point Of Contact (Optional)

No 

Project Purpose

The Hell’s Kitchen Critical Minerals & Power Project will provide the first in a series of American minerals extraction and conversion production facilities powered by renewable geothermal energy. This will supply a number of critical minerals that meet market grade requirements. The power plant will use the geothermal brine to produce electrical power from its steam and the direct lithium extraction plant will convert the dissolved lithium into battery-grade lithium hydroxide and/or lithium carbonate for the battery industry.

Project Description

The Hell’s Kitchen Critical Minerals & Power Project will convert geothermal brine into steam to generate electrical energy. Both the steam and the electrical energy will be used in the extraction of lithium and other minerals from that same geothermal brine for onsite conversion into battery-grade lithium hydroxide or lithium carbonate.

The Project is located southeast of the Salton Sea, Calipatria, California, centered at approximately latitude 33o13’14.24” N and longitude 115o34’49.53” W. There are no known cultural or historic resources within the Project site, however, monitors will be present for the initial movement of earth at the site for recognition and disposition of those resource types, should any be uncovered. There are known bird nesting areas in the general area of the Salton Sea, however, the project construction and operation are designed to avoid disturbing any nesting areas.

Technical and Financial Ability

The Project sponsor includes employees and consultants that have extensive geothermal energy development and production experience including mineral extraction specifically from the Salton Sea geothermal resource. In addition, the sponsor has partnered with highly respected engineering and construction firms to deliver this Project for commercial operation.

The Project sponsor is a new company relying on individual accredited investor support as well as strategic investor support of this first critical mineral extraction and conversion project powered by renewable energy. The sponsor has been successful in raising funds necessary to complete Project development, pilot testing, engineering and design, site characterization and related environmental permitting.

Goldman Sachs and BNP Paribas are engaged to raise the necessary equity and debt for construction, and the Project has received letters of interest for debt from U.S. EXIM and Italian SACE.

Summary of Financing, Reviews and Authorizations

The Project has received its State of California Conditional Use Permit under the California Environmental Quality Act and requires a federal CWA Section 404 Permit due to the Army Corps jurisdiction. In conjunction with the federal CWA 404 permit, Project approvals include Endangered Species Act, Section 7 consultation with the US Fish and Wildlife Service (USFWS) as the primary other regulatory agency approval. Building, grading, air emission, and other construction permits are all issued locally and will be secured through Imperial County agencies. The Project sponsor is familiar with and has successfully obtained permits from each of these relevant agencies for exploration and testing well pad construction and pilot plant construction and operation.

The Project is funded by individual accredited investors and strategic investors and will continue to be financed in this manner through close of construction financing.

Project Assessment

The Hell’s Kitchen Geothermal and Lithium Extraction Project is a covered project under 42 USC §4370m(6)(A)(iv):
• It is subject to NEPA; the size and complexity of the Project make it likely to benefit from enhanced oversight and coordination. The Project sponsor’s previous experience in obtaining necessary approvals from the Army Corps and USFWS for the exploration well pads and pilot plant demonstrated the need for a framework to coordinate agency efforts and promote adherence to permitting timelines.

Form Submitter Contact Information

• Name: James T. Turner
  Title: President
  Work Phone: (760) 604-0433
  Email Address: jim.turner@cthermal.com

Accept Agreement

Yes

Additional details: The FIN is just for Stage 1 and the total investment value of Stage 1 is approximately $2.2B.