Ormat Technologies

Company Overview

Snapshot

Founded in January 1965, Ormat Technologies operates with over 1,000 employees. The company has raised a total of $900M across 5 funding rounds. In October 2025, Ormat Technologies partnered with SLB to accelerate integrated geothermal asset development and enhanced geothermal systems.

Business overview

Ormat Technologies is a vertically integrated geothermal company specializing in the exploration, drilling, design, construction, manufacturing, ownership, financing, and operation of geothermal power plants. The company's core technology includes the Ormat Recovered Energy Generation unit, which utilizes organic Rankine cycle technology to convert waste heat from industrial processes into power for on-site consumption or grid sale, and is also applied in energy storage solutions. Ormat Technologies serves global markets by providing solutions for the transition to renewable energy, focusing on geothermal energy as a reliable, flexible, and low-emission base load electricity source, and operates within the Energy Tech sector.

Strategic signal

In October 2025, Ormat Technologies announced a strategic partnership with SLB to accelerate integrated geothermal asset development and enhanced geothermal systems. This collaboration signals a significant move towards expanding the application and efficiency of geothermal energy, indicating a strong commitment to innovation and market leadership in the renewable energy sector. For investors, this partnership suggests potential for accelerated growth and a strengthened competitive position through combined expertise and resources.

Company Intelligence Q&A

What was a significant recent strategic partnership for Ormat Technologies?

In October 2025, Ormat Technologies partnered with SLB to accelerate integrated geothermal asset development and enhanced geothermal systems.

What recent operational milestone did Ormat Technologies achieve in energy storage?

In October 2024, Ormat commenced commercial operation of the Bottleneck Storage Facility in California, delivering 80MW/320MWh of energy storage capacity.

What was Ormat Technologies' latest sustainability reporting milestone?

In September 2025, Ormat Technologies published its 2024 Sustainability Report, marking 60 years of innovation and impact.

When did Ormat Technologies begin operations at its Lower Rio Energy Storage Facility?

In September 2025, Ormat Technologies commenced commercial operation of the Lower Rio Energy Storage Facility, delivering 60MW/120MWh of energy storage capacity.

What was a key development regarding Ormat Technologies' power purchase agreements?

In September 2025, Ormat extended a 25-year Power Purchase Agreement (PPA) with SCPPA to provide renewable energy to Southern California.