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Energy industries

Ormat Technologies and Sage Geosystems Collaborate on Geothermal Energy

Strategic Insights

— 1 min read

Ormat Technologies, a geothermal and renewable energy company, has partnered with Sage Geosystems to develop and deploy next-generation geothermal energy technology. The strategic commercial agreement aims to reduce the time needed to bring geothermal energy to market and enhance operational efficiency. Under the terms of the agreement, Sage will pilot its Pressure Geothermal technology at an existing Ormat power plant, with the potential to deploy the technology globally. This collaboration marks a significant milestone for Ormat, aligning with its commitment to advancing geothermal energy solutions and reducing its time to market.

Key Takeaways:

  • Ormat Technologies has partnered with Sage Geosystems to develop and deploy next-generation geothermal energy technology.
  • The strategic commercial agreement aims to reduce the time needed to bring geothermal energy to market and enhance operational efficiency.
  • Sage will pilot its Pressure Geothermal technology at an existing Ormat power plant to extract geothermal heat energy from hot dry rock.
  • The collaboration has the potential to deploy the technology globally, leveraging the heat and pressure of the earth to enable three applications: energy storage, power generation, and direct heating.
  • Ormat Technologies is the only vertically integrated company engaged in geothermal and recovered energy generation (REG), with approximately 3,400 megawatts (MW) of gross capacity.
  • Sage Geosystems' Pressure Geothermal technology is being deployed through landmark agreements with Meta, the U.S. Department of Defense, and other global leaders like Ormat.
  • The transaction is subject to closing conditions and is anticipated to close by year-end.

Statistics:

  • 3,400 megawatts (MW) of gross capacity of power plants engineered, manufactured, and constructed by Ormat Technologies.
  • 2020: The year Sage Geosystems was founded.
  • Over 90% of global geothermal energy production comes from high-/medium-temperature geothermal resources.
  • The estimated global geothermal installed capacity is approximately 13 GW.

Sources:

  • Global Data Point, "Ormat Technologies and Sage Geosystems Collaborate on Geothermal Energy"
  • SyndiGate Media Inc.,
  • Sage Geosystems, "Pressure Geothermal Technology"
  • Ormat Technologies, "About Us"
  • U.S. Department of Defense, "Geothermal Energy"
  • Meta, "Geothermal Energy"

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