Ormat Technologies, Inc.

Ormat Technologies, Inc. is a renewable energy company that operates globally, focusing on geothermal and recovered energy power. The company is organized into three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants, selling the electricity generated. The Product segment designs, manufactures, and sells equipment for geothermal and recovered energy-based electricity generation, and provides engineering, procurement, and construction services for such plants. The Energy Storage segment owns and operates grid-connected, stand-alone In Front of the Meter (IFM) battery energy storage facilities (BESS) that provide capacity, energy, and ancillary services directly to the electric grid. Ormat serves a wide range of customers, including contractors, geothermal plant owners, interstate natural gas pipeline operators, gas processing plant operators, cement plant operators, biomass facility operators, and other companies in energy-intensive industrial processes.

Ormat Technologies, Inc. is listed on the New York Stock Exchange (NYSE) under the ticker symbol ORA. The company trades in US Dollars (USD), as it is headquartered in the United States. Being listed on the NYSE provides Ormat with access to a broad base of investors and liquidity in one of the world's largest stock exchanges. The use of USD as the trading currency aligns with its primary operations and financial reporting, which are also in US dollars.

Ormat Technologies operates in the Utilities sector, specifically within the Utilities - Renewable industry. This classification reflects the company's focus on generating electricity from renewable sources, primarily geothermal energy, but also including solar photovoltaic and recovered energy. As a renewable utility, Ormat is involved in the development, ownership, and operation of power plants that produce clean energy, as well as providing energy storage solutions. The renewable energy industry is a growing segment of the utilities sector, driven by increasing demand for sustainable power and supportive government policies.

Ormat Technologies is headquartered in Reno, Nevada, United States. The company was founded in 1965, giving it over five decades of experience in the renewable energy industry. Its long history has allowed it to become a global leader in geothermal and recovered energy power. The company's headquarters in Reno places it in a region with significant geothermal resources, which aligns with its core business. Ormat's extensive experience and established presence in the market have enabled it to develop a diversified portfolio of power plants and energy storage facilities across multiple countries.

Ormat Technologies generates revenue through three main business segments. The Electricity segment earns income by selling electricity from its owned and operated geothermal, solar photovoltaic, and recovered energy-based power plants. The Product segment makes money by designing, manufacturing, and selling equipment used in geothermal and recovered energy power generation, as well as providing engineering, procurement, and construction (EPC) services for such plants. The Energy Storage segment generates revenue by operating grid-connected battery energy storage facilities (BESS) that offer capacity, energy, and ancillary services to the electric grid. This diversified business model allows Ormat to benefit from both the sale of electricity and the provision of technology and services to other energy companies.