Justin Clare

Noah Kaye

Derek Podhaizer

Jeffrey Osborne

Andre Stillman Adams

Ben Cowell

Ben Kallo

David Anderson

Hannah Velásquez

J. David Anderson

Julien Dumoulin-Smith

Mark W. Strouse

Michael Fairbanks

Ryan Levine

- **Ormat Technologies** and **SLB** have formed a partnership to accelerate the development and commercialization of **integrated geothermal facilities**, including **Enhanced Geothermal Systems (EGS)**.  **[1296445_10a7a8224d93448390917fc77ebe582e_0]** 
- The collaboration aims to optimize project realization and implement EGS solutions at scale, including the **planning and construction of an EGS pilot plant at an Ormat site**.  **[1296445_10a7a8224d93448390917fc77ebe582e_0]** 
- This initiative leverages Ormat's expertise in power plant operations and SLB's strengths in subsurface and drilling technology to meet increasing energy demand, particularly from **AI and data centers**.  **[1296445_10a7a8224d93448390917fc77ebe582e_0]** **[1296445_10a7a8224d93448390917fc77ebe582e_1]** 
- EGS is projected to significantly expand geothermal energy's potential, with estimates of **90 GW by 2050** and up to **300 GW** in the US alone.  **[1296445_10a7a8224d93448390917fc77ebe582e_2]**

Ormat Technologies and SLB Partner to Accelerate Geothermal and EGS Development

- **Ormat Technologies** and **SLB** have announced an agreement to accelerate the development and commercialization of integrated geothermal resources, including **Enhanced Geothermal Systems (EGS)**.  **[1296445_58e2e733dbdd46f5b6f66828ab919dc5_0]** 
- The collaboration aims to **streamline project execution** from concept to energy generation and to **develop, test, and scale EGS solutions** for widespread application.  **[1296445_58e2e733dbdd46f5b6f66828ab919dc5_0]** 
- **EGS** is defined as the next generation geothermal technology, designed to access geothermal energy in regions without conventional geothermal resources.  **[1296445_58e2e733dbdd46f5b6f66828ab919dc5_0]**

Ormat Technologies and SLB Partner on Geothermal Development

- **Ormat Technologies** and **SLB** have announced a partnership to accelerate the development and commercialization of integrated geothermal assets, including enhanced geothermal systems (EGS).  **[1296445_edab5e0e1a2542b6b8bc24e4476b2988_0]** 
- The collaboration aims to streamline project deployment from concept to power generation and enable large-scale adoption of EGS solutions, leveraging Ormat's plant expertise and SLB's subsurface strengths.  **[1296445_edab5e0e1a2542b6b8bc24e4476b2988_0]** 
- A key initiative includes developing, piloting, and expanding EGS solutions, with a **pilot project** planned at an existing Ormat facility.  **[1296445_edab5e0e1a2542b6b8bc24e4476b2988_0]** 
- The partnership seeks to make EGS commercially viable to meet increasing energy demand, particularly from AI and data centers, with the US Department of Energy estimating next-generation geothermal could provide **90 gigawatts (GW) by 2050**.  **[1296445_edab5e0e1a2542b6b8bc24e4476b2988_0]** **[1296445_edab5e0e1a2542b6b8bc24e4476b2988_1]**

Ormat Technologies and SLB Partner to Accelerate Geothermal and Enhanced Geothermal Systems Development

- **Ormat Technologies** and **SLB** announced an agreement on **October 27, 2025**, to fast-track the development and commercialization of integrated geothermal assets, including **Enhanced Geothermal Systems (EGS)**, which are designed to unlock geothermal energy in regions beyond conventional resources.  **[1296445_9563385b72c34b3eabdf742333e03e53_0]** 
- The partnership aims to **streamline project deployment** and will include the design and construction of an **EGS pilot project** at an Ormat facility to validate commercial-scale deployment.  **[1296445_9563385b72c34b3eabdf742333e03e53_0]** 
- This collaboration leverages Ormat's expertise in power plant design and operations with SLB's strengths in subsurface, reservoir engineering, and well construction, with plans for **large-scale EGS commercialization** after a successful pilot.  **[1296445_9563385b72c34b3eabdf742333e03e53_0]** 
- The U.S. Department of Energy estimates that next-generation geothermal could provide **90 gigawatts (GW) by 2050**, and potentially up to **300 GW in the U.S. alone**.  **[1296445_9563385b72c34b3eabdf742333e03e53_1]**

Ormat Technologies and SLB Partner on Geothermal and EGS Development

- **SLB and Ormat Technologies** have announced an agreement to **accelerate the development and commercialization of integrated geothermal assets**, including Enhanced Geothermal Systems (EGS).  **[1296445_fbeb25ba80384c8e8df705bc15646e5f_0]** 
- The partnership aims to **streamline project deployment**, develop, pilot, and scale EGS solutions, and make both traditional hydrothermal and EGS technologies commercially viable and scalable to meet growing energy demand.  **[1296445_fbeb25ba80384c8e8df705bc15646e5f_0]** 
- Key activities include **co-developing and deploying integrated geothermal assets and EGS systems**, demonstrating an EGS pilot project at an existing Ormat facility, and jointly pursuing large-scale EGS commercialization.  **[1296445_fbeb25ba80384c8e8df705bc15646e5f_0]** 
- EGS is designed to **expand the application of geothermal energy** beyond natural reservoirs, with the U.S. Department of Energy estimating next-generation geothermal could provide **90 gigawatts (GW) by 2050** and potentially up to **300 GW in the U.S. alone**.  **[1296445_fbeb25ba80384c8e8df705bc15646e5f_1]**

Ormat Technologies and SLB Announce Geothermal Development Partnership

- Ormat Technologies has successfully commenced commercial operations at its **Lower Rio energy storage facility** in Texas.  **[1296445_5e7bce69924a4e0a90de4782f0233b7b_1]** 
- This facility is a **60MW/120MWh Battery Energy Storage System (BESS)** that will provide energy and ancillary services under a **seven-year tolling agreement**.  **[1296445_5e7bce69924a4e0a90de4782f0233b7b_1]** 
- Ormat secured approximately **$25.0 million in proceeds** through a Hybrid Tax Equity partnership with Morgan Stanley Renewables, Inc. for the project.  **[1296445_5e7bce69924a4e0a90de4782f0233b7b_1]** 
- This transaction contributes to Ormat's goal of monetizing **$160 million of tax benefits this year**.  **[1296445_5e7bce69924a4e0a90de4782f0233b7b_1]** 
- With the addition of the Lower Rio facility, Ormat's total U.S. capacity for energy storage now stands at **350MW/778MWh**.  **[1296445_5e7bce69924a4e0a90de4782f0233b7b_1]**

Ormat Commences Commercial Operations at Lower Rio Energy Storage Facility

- Ormat Technologies, Inc. has signed a **strategic commercial agreement** with Sage Geosystems Inc., a pioneer in next-generation geothermal and energy storage technology.  **[1296445_bf60c8bdaf404fb38ad5628e39471f52_0]** 
- Under the terms of the agreement, Sage will **pilot its advanced Pressure Geothermal technology** at an existing Ormat power plant to extract geothermal heat energy from hot dry rock.  **[1296445_bf60c8bdaf404fb38ad5628e39471f52_0]** 
- This collaboration aims to **significantly reduce the time needed to bring geothermal energy to market** and enhance Ormat’s operational efficiency.  **[1296445_bf60c8bdaf404fb38ad5628e39471f52_0]** 
- Following the successful completion of the pilot project, Ormat will have the right to **develop, build, own, and operate** geothermal power plants and energy storage projects using Sage’s technology.  **[1296445_bf60c8bdaf404fb38ad5628e39471f52_0]** 
- The transaction is subject to closing conditions and is **anticipated to close by year-end**.  **[1296445_bf60c8bdaf404fb38ad5628e39471f52_0]**

Ormat Technologies Announces Strategic Commercial Agreement

- Ormat Technologies, Inc. (ORA) announced a **25-year extension** to its existing Power Purchase Agreement (PPA) with the Southern California Public Power Authority (SCPPA) for **52MW** from its **Heber 1 geothermal facility**.  **[1296445_f1d0463b8b5d4e84bba38fce11ddb00c_0]** 
- This agreement, effective **February 2026**, ensures the continued delivery of clean, baseload geothermal energy to the Los Angeles Department of Water and Power (LADWP) and the Imperial Irrigation District (IID) through **2052**.  **[1296445_f1d0463b8b5d4e84bba38fce11ddb00c_0]** 
- The Heber 1 power plant, now operating with air-cooled technology, is part of the Heber complex which delivers **91MW** of carbon-free electricity.  **[1296445_f1d0463b8b5d4e84bba38fce11ddb00c_0]**

ORMAT TECHNOLOGIES (ORA)