Core 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]

Core Insights - Ormat Technologies has signed a strategic commercial agreement with Sage Geosystems to enhance geothermal energy solutions and accelerate time to market for next-generation geothermal technologies [1][4] Company Overview - Ormat Technologies is a leading geothermal and renewable energy company with over 60 years of experience, focusing on geothermal and recovered energy generation (REG) [5] - The company operates a total generating portfolio of approximately 1,558 MW, including 1,268 MW from geothermal and solar generation, and a 290 MW energy storage portfolio located in the U.S. [5] Collaboration Details - Under the agreement, Sage will pilot its advanced Pressure Geothermal technology at an existing Ormat power plant, aiming to improve operational efficiency and expedite the implementation of geothermal solutions [2][3] - Following the pilot's success, Ormat will have the rights to develop and operate geothermal power plants and energy storage projects using Sage's technology [3] Leadership Statements - Ormat's CEO expressed enthusiasm for the partnership, highlighting its alignment with the company's commitment to advancing geothermal energy solutions [4] - Sage's CEO noted that the collaboration represents a significant step in commercializing Pressure Geothermal technology, emphasizing the potential for innovation and sustainability in the energy sector [4][6]