Ormat Technologies

Geothermal and Waste Heat Power

Energy Tech
Public on TASE on Jan, 1991
Public on NYSE on Nov, 2004
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Company Overview

Snapshot

Founded in January 1965, Ormat Technologies operates with over 1,000 employees. The company has raised a total of $900 million across 5 funding rounds and has been publicly traded on the TASE since January 1991 and on the NYSE since November 2004. In March 2023, Ormat Technologies raised $300 million in a public offering on the NYSE.

Business overview

Ormat Technologies is a vertically integrated geothermal company specializing in the exploration, drilling, design, manufacturing, 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 usable power. This power can be consumed on-site or sold to the grid, and the technology is also applied in energy storage solutions globally. Ormat Technologies serves the renewable energy sector, providing base load electricity 24/7 with high reliability and minimal emissions, operating in various industries that benefit from geothermal energy and energy storage.

Strategic signal

Ormat Technologies is demonstrating significant strategic momentum in the renewable energy sector. In September 2025, the company extended a 25-year Power Purchase Agreement (PPA) with SCPPA to supply renewable energy to Southern California, and also commenced commercial operation of its Lower Rio Energy Storage Facility, delivering 60MW/120MWh of energy storage capacity. These developments signal a strong commitment to expanding its renewable energy footprint and enhancing grid stability through advanced energy storage solutions, positioning Ormat as a key player in the transition to a sustainable energy future.

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Company Intelligence Q&A

What was a significant recent development for Ormat Technologies in energy storage?
In September 2025, Ormat Technologies commenced commercial operation of its Lower Rio Energy Storage Facility, which delivers 60MW/120MWh of energy storage capacity.
What strategic partnership did Ormat Technologies form in October 2025?
In October 2025, Ormat Technologies partnered with SLB to accelerate integrated geothermal asset development and enhanced geothermal systems.
What was the latest public offering amount for Ormat Technologies?
In March 2023, Ormat Technologies raised $300 million in a public offering on the NYSE.
What long-term agreement did Ormat Technologies extend in September 2025?
In September 2025, Ormat Technologies extended a 25-year Power Purchase Agreement (PPA) with SCPPA to provide renewable energy to Southern California.
What sustainability milestone did Ormat Technologies achieve in September 2025?
In September 2025, Ormat Technologies published its 2024 Sustainability Report, marking 60 years of innovation and impact in the energy sector.
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