Ormat Technologies has invested $25 million in Sage Geosystems’ Series B financing round, which raised over $97 million in total. The co‐lead investment alongside Carbon Direct Capital underscores Ormat’s commitment to next‐generation geothermal and energy storage technologies. The funds will support Sage’s development of its first commercial Pressure Geothermal facility, as well as scale pilot deployments at existing Ormat power plants.

This equity investment deepens the companies’ existing commercial agreement and accelerates Ormat’s strategy to expand its Enhanced Geothermal Systems (EGS) capabilities. By integrating Sage’s proprietary technology, Ormat aims to reduce development timelines, optimize heat extraction from hot dry rock reservoirs, and broaden its generation mix within its global 1,310 MW geothermal and solar portfolio.

Sage’s Pressure Geothermal pilot will operate at an Ormat site under a phased testing plan designed to validate heat extraction rates and reservoir longevity. Upon successful completion, Ormat secures exclusive rights to develop, build, own and operate power plants and energy storage projects using Sage’s technology. This could materially expand Ormat’s 385 MW U.S. energy storage business and reinforce its market leadership in vertically integrated renewable generation.

CEO Doron Blachar emphasized that the investment is a ‘natural extension’ of Ormat’s leadership role in geothermal innovation. With over five decades of industry experience and 3,600 MW of installed capacity worldwide, Ormat expects the collaboration to drive commercialization of advanced geothermal solutions, bolster annual revenue and Adjusted EBITDA growth, and solidify its position in the global renewable energy market.