Ormat Technologies Inc. Responds to Press Reports About Potential Transaction
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RENO, Nevada - Ormat Technologies Inc. (ORA): In response to certain press reports that appeared in the Israel trade press, Ormat Technologies Inc. (the “Company”) provided the following clarification: The Company has been informed by FIMI Opportunity Funds and Bronicki Investments Ltd. (collectively, the “interested shareholders”) that they have been approached by a leading strategic investor regarding such investor’s potential interest in acquiring the common stock held by the interested shareholders. The interested shareholders have advised the Company that they will inform the Company as and when things progress (if at all). In any event, the company clarifies that there are no discussions for the sale of the company or its business.
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 the objective of becoming a leading global provider of renewable energy. 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. With 72 U.S. patents, Ormat’s power solutions have been refined and perfected under the most grueling environmental conditions. Ormat has 450 employees in the United States and over 600 overseas. Ormat’s flexible, modular solutions for geothermal power and REG are ideal for the vast range of resource characteristics. The company has engineered, manufactured and constructed power plants, which it currently owns or has installed to utilities and developers worldwide, totaling over 2,000 MW of gross capacity. Ormat’s current 710 MW generating portfolio is spread globally in the U.S., Guatemala, Guadeloupe, and Kenya.