About Ormat Technologies
Company Overview
Ormat Technologies Inc.
HeadquartersReno, NV, United States
Founded1965
SizeApproximately 2,000-5,000 employees globally (source: salestools.io). Revenue exceeding $1 billion annually (source: salestools.io).
What They Do
Ormat Technologies focuses primarily on geothermal power generation, utilizing proprietary binary cycle technology through the Ormat Energy Converter (OEC). This innovative system operates on a closed-loop mechanism where geothermal brine heats a secondary fluid with a low boiling point, enabling turbines to generate power without emissions. This technology allows Ormat to harness lower-temperature geothermal resources, ranging from 150°F to 300°F, making it a leader in the geothermal sector with over 3,200MW of geothermal and recovered energy generation (REG) equipment supplied globally since the 1980s. The company holds a commanding market share of over 70% in binary geothermal technology, supported by more than 100 patents (source: ormat.com, wikipedia.org).
Projects & Track Record
Ormat has developed over 190 power plants with a total installed capacity of 3,200MW, showcasing its extensive experience in the geothermal sector. Notable projects include the 36MW Heber Complex in California, the 150MW Olkaria III in Kenya, and the 50MW Leyte Optimization in the Philippines. The company has also made significant strides in the U.S. market, achieving a capacity of 1,300MW by 2010 through a combination of development, construction, and acquisitions. Recent completions include the Rabbit Hill Battery Energy Storage System in Texas, marking Ormat's first project in the state, and the acquisition of the Pomona Energy Storage Facility in California, which represents its first foray into energy storage in that region (source: ormat.com, wikipedia.org).
Recent Developments
In the past two years, Ormat has made significant advancements, including the announcement of a Plain Bearings Turbine innovation on September 11, 2024, which aims to enhance geothermal efficiency. The company also partnered with SLB on June 24, 2024, to deliver integrated geothermal project solutions, further solidifying its position in the market. Additionally, Ormat celebrated key milestones in energy storage on April 18, 2024, including the Wrise Event for Women in Renewable Energy in Nevada and the Cove Fort tour, which highlighted permitting reforms. While no major acquisitions or mergers have been reported since 2021, Ormat is actively targeting to double its energy storage capacity to 600-670MW/1.5-1.7GWh by the end of 2025, supported by U.S. Investment Tax Credit (ITC) incentives (source: ormat.com, investmentreports.co).
Working There
Ormat Technologies offers a diverse range of roles across various departments, including engineering (software, infrastructure, geothermal turbines), product management and design, sales and marketing, operations, finance, HR, and executive positions. The company actively hires at its Reno headquarters, as well as in Sparks, NV, and globally in locations such as Indonesia and Kenya. The company culture emphasizes innovation, collaboration, and continuous learning, with a focus on employee well-being. The Reno headquarters features modern amenities such as open-plan offices, collaboration spaces, high-speed technology infrastructure, fitness and wellness rooms, cafeterias, and lounges, all designed to foster both focused work and teamwork (source: salestools.io).
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