Ormat Takes $25M Stake in Sage Geosystems - Pressure Geothermal Pilot Phase to Begin - Ormat Stock Continues to Rise
Reno (USA) - Ormat Technologies has announced an equity investment of $25 million in Sage Geosystems. The Series B funding round totals more than $97 million and is intended to accelerate the development of next-generation geothermal and energy storage technology.
Ormat joins Sage’s series B financing round as Co-Lead
Ormat Technologies has announced an equity investment of $25 million in Sage Geosystems’ Series B financing round. The round totals more than $97 million and is co-led by Ormat and Carbon Direct Capital.
The funding is intended to further develop Sage’s geothermal power generation and energy storage solutions and to realize the first next-generation commercial geothermal plant.
Ormat emphasizes that the investment is part of its strategy to expand its portfolio in the field of Enhanced Geothermal Systems (EGS). Ormat CEO Doron Blachar commented on the investment: “Our investment in Sage is a natural extension of our strategic collaboration and underscores our confidence in Sage’s Pressure Geothermal technology. As a long-established leader in the geothermal industry, this investment aligns with Ormat’s strategy to advance geothermal innovation, accelerate time to market and expand geothermal energy deployment within the global energy landscape.”
Pilot project in Ormat power plant and pressure geothermal technology
Sage plans to pilot its pressure-geothermal technology at an existing Ormat power plant. The goal is to extract geothermal heat from hot, dry rock while simultaneously building hydraulic pressure as storage, which can later be used to generate electricity. Upon successful completion of the pilot project, Ormat will have the right to develop, build, own, and operate geothermal power plants and energy storage projects that use Sage’s technology.
Sage’s pressure-geothermal technology represents an advancement of hot-dry-rock (HDR) technology. While HDR relies on extracting heat from hot, dry rock by creating artificial fractures, pressure geothermal expands this principle by adding a hydraulic pressure storage system. Controlled, relatively smaller fractures are created in the rock to enable efficient heat transfer while also allowing the buildup and storage of hydraulic pressure. This pressure can be used, similar to a pumped-storage power plant, to drive water through turbines when needed and generate electricity flexibly.
Sage describes the technology as “safe, scalable and cost-effective.” It is intended to not only provide continuous renewable energy but also enable flexible energy storage.
Ormat stock continues to climb
The stock of Ormat, listed on the renewable energy index RENIXX World, is currently trading at €106.15, continuing its growth trend today. In 2025, the Ormat share has risen by a total of 47 percent.
Source: IWR Online, 22 Jan 2026
