Ormat Technologies to Supply Recovered Energy Generation Unit to the Italcementi Group
06 Agosto 2007 - 3:40PM
PR Newswire (US)
RENO, Nev., Aug. 6 /PRNewswire-FirstCall/ -- Ormat Technologies,
Inc. (NYSE:ORA) today announced that its subsidiary has entered
into a US$5.7 million agreement with Italcementi Group of Bergamo,
Italy, for the supply of one ORMAT(R) ENERGY CONVERTER (OEC) for a
new Recovered Energy Generation (REG) plant. The plant is to be
installed in the Martinsburg, West Virginia cement plant, belonging
to Essroc, an Italcementi subsidiary in the USA. The equipment is
to be supplied within 14 months from the contract date. (Logo:
http://www.newscom.com/cgi-bin/prnh/20040422/LATH066LOGO) The
Italcementi Group is the world's fifth largest cement group, with
62 cement plants in 19 countries. Construction of the recovered
energy power plant utilizing the readily installed and largely
pre-assembled OEC is being undertaken by the Italcementi Group
itself. When completed, the OEC power plant will convert unused
exhaust air from the cement plant's clinker cooler into electric
power. Lucien Y. Bronicki, Chairman of the Board and Chief
Technology Officer of Ormat Technologies, said: "This will be the
first project in the USA utilizing exclusively clinker cooler
exhaust air for power generation. The relatively low temperatures
and varying loads of clinker cooler exhaust air in cement plants
make conventional power solutions impractical, but is well suited
for the Ormat's Organic Rankine Cycle based OEC. An additional
environmental advantage of the OEC plant is that it uses air-cooled
condensers rather than water consuming cooling towers." "The power
plant will generate fuel-free electrical power, substituting
fossil-fuel power and avoiding approximately 26,000 tons of CO2
emissions per year. This contract marks our third Recovered Energy
Generation plant in the cement industry, adding to our Recovered
Energy Generation systems in gas compressor stations, gas
processing plants, refineries and others. We look forward to
further applications of this type, which are well suited to Ormat's
technology. " Over 900 MW of Ormat Geothermal and Recovered Energy
Generation (REG) power plants have been constructed around the
world in 23 countries, from California in the USA to Thailand and
from Iceland to New Zealand. About Ormat Technologies Ormat
Technologies, Inc. is a vertically-integrated company primarily
engaged in the geothermal and recovered energy power business. The
Company designs, develops, builds, owns and operates geothermal and
recovered energy power plants using Organic Rankine Cycle (ORC)
technology. Additionally, the Company designs, manufactures and
sells geothermal and recovered energy power units and other power
generating equipment, and provides related services. Ormat is a
pioneer and a leader in the manufacture of ORC power equipment its
products and systems are covered by approximately 70 patents. Ormat
currently operates the following geothermal power plants: in the
United States -- Brady, Heber, Mammoth, Ormesa, Puna and Steamboat;
in the Philippines -- Leyte; in Guatemala -- Zunil; in Kenya --
Olkaria; and in Nicaragua -- Momotombo. In the U.S., Ormat owns and
operates four OREG1 Recovered Energy Generation plants. Safe Harbor
Statement Information provided in this press release may contain
statements relating to current expectations, estimates, forecasts
and projections about future events that are "forward-looking
statements" as defined in the Private Securities Litigation Reform
Act of 1995. These forward-looking statements generally relate to
Ormat's plans, objectives and expectations for future operations
and are based upon its management's current estimates and
projections of future results or trends. Actual future results may
differ materially from those projected as a result of certain risks
and uncertainties. For a discussion of such risks and
uncertainties, see "Risk Factors" as described in Ormat
Technologies, Inc.'s Annual Report on Form 10-K filed with the
Securities and Exchange Commission on March 12, 2007. These
forward-looking statements are made only as of the date hereof, and
we undertake no obligation to update or revise the forward-looking
statements, whether as a result of new information, future events
or otherwise. Ormat Technologies Contact: Investor Relations
Contact: Dita Bronicki Todd Fromer/ Marybeth Csaby CEO and
President KCSA Worldwide +1-775-356-9029 +212-896-1215 /
212-896-1236 /
http://www.newscom.com/cgi-bin/prnh/20040422/LATH066LOGO
http://photoarchive.ap.org/ DATASOURCE: Ormat Technologies, Inc.
CONTACT: Dita Bronicki, CEO and President of Ormat Technologies,
Inc., +1-775-356-9029, ; or Investors, Todd Fromer,
+1-212-896-1215, , or Marybeth Csaby, +1-212-896-1236, , both of
KCSA Worldwide, for Ormat Technologies, Inc. Web site:
http://www.ormat.com/
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