Geothermal Power Plants: Maintaining Positive Energy
Product: Turbines, Energy Cycles and Renewable Energy Power Plants Developer: Yehuda Bronicki Company: Ormat Technologies Year of Foundation: 1965
Ormat is an international company that was founded in Israel in the mid 1960s by Dita and Yehuda Bronicki. Ormat installs geothermal power plants all over the world that utilize steam and hot water sourced from the depth of the Earth by unique technology developed by Ormat. Ormat’s technology enables the production of clean energy 24/7 without burning fossil fuel, is not dependent upon weather conditions and is free of carbon dioxide emissions.
This unique technology was developed during the 1960s by Yehuda Bronicki in the Israeli National Physics Laboratory and serves as the basis for all the company’s products developed over the years including: solar operated generating units, small generating units suitable for isolated areas such as Siberia and Alaska, and naturally, power units for geothermal power plants.
Ormat leads the global geothermal market with a market share of more than 80 percent of all binary geothermal power plants worldwide. Ormat is the only vertically integrated company capable of carrying out the entire geothermal energy production process: searching for and identifying geothermal resources, drilling, engineering, manufacturing, construction, financing and operation. Since its inception, Ormat has exported approximately 4,000 communications units to 70 countries around the world and 2,500 megawatts of geothermal and waste heat power plants that were manufactured in Ormat’s facility in Israel. Ormat owns and operates 800 megawatts of geothermal and waste heat power plants in the USA, Kenya, Guatemala, Honduras, Indonesia and Guadeloupe.
Alongside its technological innovations, Ormat also excels at commercial innovation and social awareness. By way of its developments in the geothermal power space, Ormat has evolved as a pioneer in the field of large-scale international power projects. Ormat employed about 1,300 employees in Israel and
abroad and its market cap is about 3.2 billion dollars.
