Ormat Partners with Sage Geosystems to Expand Geothermal Energy Storage

Ormat Technologies is collaborating with Sage Geosystems to develop Pressure Geothermal technology. This method extracts heat from hot dry rock formations. The partnership aims to unlock new markets for Ormat by creating geothermal reservoirs using pressurized fluids. This approach could make geothermal energy viable in areas lacking natural hydrothermal resources. Ormat reported a 9.9% revenue increase in Q2 2025, reaching $234 million. The company's energy storage segment saw a significant 62.7% growth. To fund expansion, Ormat secured $300 million for projects. These include the 20 MW Blue Mountain geothermal plant and additional energy storage facilities. Ormat is also working with Morgan Stanley to manage capital risks for its energy storage ventures. The company targets 2.7 GW of generating capacity by 2028. It plans to use Pressure Geothermal technology to diversify its energy sources. This strategy supports Ormat's goal of meeting demand for long-duration energy storage. Such storage is vital for balancing intermittent renewable sources like solar and wind power.