Ormat Technologies Inc.

Published : August 06th, 2007

to Supply Recovered Energy Generation Unit to the Italcementi Group

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Ormat Technologies to Supply Recovered Energy Generation Unit to the Italcementi Group

RENO, Nev., Aug. 6 /PRNewswire-FirstCall/ -- Ormat Technologies, Inc. (NYSE: ORA) today announced that its subsidiary has entered into a US$5.7 million agreement with Italcementi Group of Bergamo, Italy, for the supply of one ORMAT(R) ENERGY CONVERTER (OEC) for a new Recovered Energy Generation (REG) plant. The plant is to be installed in the Martinsburg, West Virginia cement plant, belonging to Essroc, an Italcementi subsidiary in the USA. The equipment is to be supplied within 14 months from the contract date.

(Logo: http://www.newscom.com/cgi-bin/prnh/20040422/LATH066LOGO)

The Italcementi Group is the world's fifth largest cement group, with 62 cement plants in 19 countries.

Construction of the recovered energy power plant utilizing the readily installed and largely pre-assembled OEC is being undertaken by the Italcementi Group itself. When completed, the OEC power plant will convert unused exhaust air from the cement plant's clinker cooler into electric power.

Lucien Y. Bronicki, Chairman of the Board and Chief Technology Officer of Ormat Technologies, said: "This will be the first project in the USA utilizing exclusively clinker cooler exhaust air for power generation. The relatively low temperatures and varying loads of clinker cooler exhaust air in cement plants make conventional power solutions impractical, but is well suited for the Ormat's Organic Rankine Cycle based OEC. An additional environmental advantage of the OEC plant is that it uses air-cooled condensers rather than water consuming cooling towers."

"The power plant will generate fuel-free electrical power, substituting fossil-fuel power and avoiding approximately 26,000 tons of CO2 emissions per year. This contract marks our third Recovered Energy Generation plant in the cement industry, adding to our Recovered Energy Generation systems in gas compressor stations, gas processing plants, refineries and others. We look forward to further applications of this type, which are well suited to Ormat's technology. "

Over 900 MW of Ormat Geothermal and Recovered Energy Generation (REG) power plants have been constructed around the world in 23 countries, from California in the USA to Thailand and from Iceland to New Zealand.

About Ormat Technologies

Ormat Technologies, Inc. is a vertically-integrated company primarily engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy power plants using Organic Rankine Cycle (ORC) technology. Additionally, the Company designs, manufactures and sells geothermal and recovered energy power units and other power generating equipment, and provides related services. Ormat is a pioneer and a leader in the manufacture of ORC power equipment its products and systems are covered by approximately 70 patents. Ormat currently operates the following geothermal power plants: in the United States -- Brady, Heber, Mammoth, Ormesa, Puna and Steamboat; in the Philippines -- Leyte; in Guatemala -- Zunil; in Kenya -- Olkaria; and in Nicaragua -- Momotombo. In the U.S., Ormat owns and operates four OREG1 Recovered Energy Generation plants.

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. 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. Actual future results may differ materially from those projected as a result of certain risks and uncertainties. For a discussion of such risks and uncertainties, see "Risk Factors" as described in Ormat Technologies, Inc.'s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 12, 2007.

These forward-looking statements are made only as of the date hereof, and 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:������������ Investor Relations Contact:
��� Dita Bronicki�������������������������� Todd Fromer/ Marybeth Csaby
��� CEO and President���������������������� KCSA Worldwide
��� +1-775-356-9029������������������������ +212-896-1215 / 212-896-1236
��� dbronicki@ormat.com�������������������� tfromer@kcsa.com / mcsaby@kcsa.com
 
 
SOURCEOrmat Technologies, Inc.
��� -0-���������������������������� 08/06/2007
��� /CONTACT:Dita Bronicki, CEO and President of Ormat Technologies, Inc.,
+1-775-356-9029, dbronicki@ormat.com; or Investors, Todd Fromer,
+1-212-896-1215, tfromer@kcsa.com, or Marybeth Csaby, +1-212-896-1236,
mcsaby@kcsa.com, both of KCSA Worldwide, for Ormat Technologies, Inc./
��/Photo:http://www.newscom.com/cgi-bin/prnh/20040422/LATH066LOGO
������������� AP Archive:http://photoarchive.ap.org
������������� PRN Photo Desk, photodesk@prnewswire.com/
��� /Web site:http://www.ormat.com /
��� (ORA)
 
CO:Ormat Technologies, Inc.; Essroc; Italcementi Group
ST:Nevada, Virginia, Italy
IN:OIL ENV UTI
SU:LIC
 
GS-CD
-- LAM102 --
1441 08/06/2007 13:40 EDT http://www.prnewswire.com

 

Ormat Technologies Inc.

CODE : ORA
ISIN : US6866881021
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Ormat technologies is based in United states of america.

Ormat technologies holds various exploration projects in Indonesia and in USA.

Its main exploration properties are HEBER in USA and SARULLA in Indonesia.

Ormat technologies is listed in Germany and in United States of America. Its market capitalisation is US$ 4.3 billions as of today (€ 3.7 billions).

Its stock quote reached its highest recent level on February 26, 2021 at US$ 98.73, and its lowest recent point on January 09, 2023 at US$ 84.40.

Ormat technologies has 50 597 124 shares outstanding.

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