Ormat Technologies Announces Co-Lead of Series B Investment in Sage Geosystems to Advance Next-Generation Geothermal Technology
Rhea-AI Summary
Ormat Technologies (NYSE: ORA) announced a $25 million equity investment as co-lead in an over $97 million Series B round for Sage Geosystems on Jan. 21, 2026. The financing, co-led with Carbon Direct Capital, will fund Sage’s advancement of next‑generation geothermal and energy storage solutions and support development of its first commercial facility.
Ormat said the deal complements a prior commercial agreement and will fund a pilot of Sage’s Pressure Geothermal technology at an existing Ormat plant; upon successful pilot completion, Ormat will have rights to develop, build, own and operate plants and storage projects using Sage’s technology.
Positive
- $25M investment by Ormat as Series B co‑lead
- Series B totals over $97M, attracting institutional co‑lead
- Pilot of Sage Pressure Geothermal at an existing Ormat power plant
- Contingent rights to develop, build, own and operate projects upon pilot success
Negative
- Development rights are conditional on successful completion of the pilot
News Market Reaction
On the day this news was published, ORA gained 3.69%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
ORA slipped 0.25% with peers like BEPC, CWEN, ENLT, RNW, and FLNC also down modestly, but no names appeared on the momentum scanner, suggesting a stock-specific context rather than a strong sector-wide move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 15 | Geothermal concession win | Positive | -3.2% | Award of Telaga Ranu geothermal concession in high-tariff Indonesian zone. |
| Jan 14 | Earnings call notice | Neutral | -0.6% | Scheduling of Q4 and full-year 2025 earnings release and conference call. |
| Jan 12 | Long-term PPA | Positive | +3.2% | 20-year PPA with Switch for ~13MW geothermal power plus solar option. |
| Jan 06 | Hybrid project launch | Positive | +1.6% | Commercial start of Arrowleaf, first hybrid solar-plus-storage project. |
| Nov 03 | Earnings beat/guidance | Positive | +1.4% | Q3 2025 growth, higher 2025 guidance, storage facility and EGS deals. |
Recent positive strategic and project news has more often aligned with modest price gains, with one notable negative divergence on a favorable concession award.
Over the past few months, Ormat reported multiple growth-oriented updates. On Nov 3, 2025, Q3 2025 results showed revenue of $249.7M, 17.9% YoY growth, raised 2025 guidance, and highlighted EGS collaborations with Sage Geosystems and SLB. In early Jan 2026, Ormat commenced its Arrowleaf hybrid solar-plus-storage project, signed a 20-year PPA with Switch for ~13MW of geothermal power, and was awarded the Telaga Ranu geothermal concession in Indonesia. Today’s Sage investment deepens this existing EGS collaboration trend.
Market Pulse Summary
This announcement highlights Ormat’s deepening commitment to next‑generation geothermal through a $25 million equity investment in Sage Geosystems’ over $97 million Series B round. It builds on earlier EGS collaborations and supports a pilot of Sage’s Pressure Geothermal technology at an existing Ormat plant. In the broader context of recent PPAs, hybrid projects, and international concessions, investors may focus on pilot results, commercialization timing, and how these efforts scale within Ormat’s growing renewable platform.
Key Terms
enhanced geothermal systems technical
pressure geothermal technical
equity investment financial
AI-generated analysis. Not financial advice.
RENO, Nev., Jan. 21, 2026 (GLOBE NEWSWIRE) -- Ormat Technologies Inc. (NYSE: ORA) (the “Company” or “Ormat”), a leading geothermal and renewable energy company, today announced a
This investment represents an important milestone in Ormat’s strategy to expand its Enhanced Geothermal Systems (“EGS”) portfolio and capabilities. Combined with the previously announced commercial agreement between Ormat and Sage, this investment is anticipated to accelerate the deployment and commercialization of advanced geothermal technologies.
Sage plans to pilot its proprietary Pressure Geothermal technology at an existing Ormat power plant, with the goal of extracting geothermal heat from hot dry rock and accelerating the time to market for next-generation geothermal solutions. Upon successful completion of the pilot, Ormat will have the right to develop, build, own and operate geothermal power plants and energy storage projects utilizing Sage’s technology.
Doron Blachar, Chief Executive Officer of Ormat Technologies, stated, “Our investment in Sage is a natural extension of our strategic collaboration and underscores our confidence in Sage’s Pressure Geothermal technology. As a long-established leader in the geothermal industry, this investment aligns with Ormat’s strategy to advance geothermal innovation, accelerate time to market and expand geothermal energy deployment within the global energy landscape.”
ABOUT ORMAT TECHNOLOGIES
With over five decades of experience, Ormat Technologies, Inc. is a leading geothermal company, and the only vertically integrated company engaged in geothermal and recovered energy generation (“REG”), with robust plans to accelerate long-term growth in the energy storage market and to establish a leading position in the U.S. energy storage market. The Company owns, operates, designs, manufactures and sells geothermal and REG power plants primarily based on the Ormat Energy Converter – a power generation unit that converts low-, medium- and high-temperature heat into electricity. The Company has engineered, manufactured and constructed power plants, which it currently owns or has installed for utilities and developers worldwide, totaling approximately 3,600MW of gross capacity. Ormat leveraged its core capabilities in the geothermal and REG industries and its global presence to expand the Company’s activity into energy storage services, solar Photovoltaic (PV) and energy storage plus Solar PV. Ormat’s current total generating portfolio is 1,695MW with a 1,310MW geothermal and solar generation portfolio that is spread globally in the U.S., Kenya, Guatemala, Indonesia, Honduras, and Guadeloupe, and a 385MW energy storage portfolio that is located in the U.S.
ORMAT’S SAFE HARBOR STATEMENT
Information provided in this press release may contain statements relating to current expectations, estimates, forecasts and projections about future events that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect or anticipate will or may occur in the future, including such matters as our projections of annual revenues and Adjusted EBITDA, expenses and debt service coverage with respect to our debt securities, future capital expenditures, business strategy, competitive strengths, goals, development or operation of generation assets, legal, market, industry and geopolitical developments and incentives, demand for renewable energy, and the growth of our business and operations, are forward-looking statements. When used in this press release, the words “may”, “will”, “could”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “projects”, “potential”, or “contemplate” or the negative of these terms or other comparable terminology are intended to identify forward-looking statements, although not all forward-looking statements contain such words or expressions. These forward-looking statements generally relate to Ormat's plans, objectives and expectations for future operations and are based upon its management's current estimates and projections of future results or trends. Although we believe that our plans and objectives reflected in or suggested by these forward-looking statements are reasonable, we may not achieve these plans or objectives. Actual future results may differ materially from those projected as a result of certain risks and uncertainties and other risks described under "Risk Factors" as described in Ormat’s most recent annual report, and in subsequent filings.
These forward-looking statements are made only as of the date hereof, and, except as legally required, we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
| Ormat Technologies Contact: Smadar Lavi VP Head of IR and ESG Planning & Reporting 775-356-9029 (ext. 65726) slavi@ormat.com | Investor Relations Agency Contact: Joseph Caminiti or Josh Carroll Alpha IR Group 312-445-2870 ORA@alpha-ir.com |
FAQ
What did Ormat (ORA) announce on January 21, 2026 regarding Sage Geosystems?
How will Ormat (ORA) and Sage pilot Pressure Geothermal technology?
What rights does Ormat (ORA) obtain from the Sage investment?
Who co‑led the Series B financing for Sage alongside Ormat (ORA)?
What is the strategic purpose of Ormat’s (ORA) investment in Sage?
