Ormat Technologies

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 went public on the NYSE in 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. Ormat serves markets globally, providing base load electricity 24/7 with high reliability and minimal emissions, positioning itself within the Energy Tech sector and contributing to the clean energy generation and energy transition segments.

Strategic signal

In October 2025, Ormat Technologies partnered with SLB to accelerate integrated geothermal asset development and enhanced geothermal systems. This collaboration signals a strategic move to combine expertise in advanced geothermal solutions, potentially expanding the reach and efficiency of geothermal energy projects and reinforcing Ormat's position in the renewable energy market.

Company Intelligence Q&A

When did Ormat Technologies go public on the NYSE?

Ormat Technologies went public on the NYSE in November 2004.

What was a significant public offering by Ormat Technologies in recent years?

In March 2023, Ormat Technologies raised $300 million in a public offering on the NYSE.

What strategic partnership did Ormat Technologies announce in October 2025?

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

What energy storage facility did Ormat Technologies begin operating in September 2025?

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

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.