Ormat Technologies(US:ORA) Globenewswire·2026-01-21 12:54Core Insights - Ormat Technologies Inc. announced a $25 million equity investment in Sage Geosystems Inc. as part of a Series B funding round exceeding $97 million, aimed at advancing geothermal power generation and energy storage solutions [1][2] Group 1: Investment and Strategic Collaboration - The investment is a significant step in Ormat's strategy to enhance its Enhanced Geothermal Systems (EGS) portfolio and capabilities, expected to accelerate the commercialization of advanced geothermal technologies [2] - Ormat and Carbon Direct Capital co-led the Series B financing, which will support Sage in developing its first commercial next-generation geothermal facility [1][2] Group 2: Technology Development - Sage plans to pilot its proprietary Pressure Geothermal technology at an existing Ormat power plant, focusing on extracting geothermal heat from hot dry rock to expedite the market entry of next-generation geothermal solutions [3] - Upon successful completion of the pilot, Ormat will have the rights to develop, build, own, and operate geothermal power plants and energy storage projects utilizing Sage's technology [3] Group 3: Company Overview - Ormat Technologies has over five decades of experience in the geothermal industry and is the only vertically integrated company engaged in geothermal and recovered energy generation, with plans to grow in the energy storage market [4] - The company currently has a total generating portfolio of 1,695 MW, including 1,310 MW from geothermal and solar generation, and a 385 MW energy storage portfolio located in the U.S. [4]