Ormat Technologies Inc - Company Profile
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Business Description
Ormat Technologies Inc (Ormat), designs, develops, constructs, owns, operates and stores geothermal and recovered energy based power plants. The company also offers solar PV and energy storage and management services. It provides products and services to contractors, power plant operators, owners and plant developers.
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R&D Overview
R&D efforts focus on thermodynamic cycles in power plants and power generation equipment to improve performance, reduce costs, lower land usage, and develop new turbines and specialized remote power units for improved efficiency. It also focuses on developing, engineering and designing energy storage systems. The company also strives to develop algorithms to improve the life of battery energy storage systems and continue investments in companies for new technology for energy storage. In FY2022, it spent US$5.1 million on R&D, which increased 23.0% YoY. As of December 31, 2022, the company had 63 issued US patents and 35 pending US patents.
Business Segments
Overview
Develops, constructs, owns and operates geothermal power plants across the world and, solar PV and recovered energy based power plants in the US. - Produces and sells electricity through power purchase agreements.
Performance
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Overview
Engineers, procures, constructs, operates and maintains the energy storage units and also offers the demand response and energy related services through Viridity business. - It provides services in across the US through VPower service platform.
Performance
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Overview
Designs, manufactures and sells equipment to generate geothermal and recovered energy. - Engineers, procures, constructs, operates and maintains power plants of geothermal energy, recovered energy and solar PV power plants. - Sells through contractors, owners, operators from process companies, pipelines and power plants.
Performance
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Geographical Segments
Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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