Ormat and Toshiba Sign Strategic Collaboration Agreement
14 Outubro 2015 - 2:00PM
and TOKYO, Oct. 15, 2015 -- Ormat Technologies Inc. (NYSE:ORA)
and Toshiba Corporation (TOKYO:6502) announced today that the two
companies have signed a strategic collaboration agreement (SCA) to
develop strategic opportunities for collaboration in the areas of
geothermal power generation systems and related equipment.
Under the terms of the agreement, the parties
will explore and develop strategic opportunities that will enable
them to offer potential customers a more competitive solution for
comprehensive supplies and services related to geothermal
developments, from resource assessment, field development, power
plant engineering, procurement and construction (EPC) to power
plant operation.
Geothermal power plants generally utilize either
a binary system or a conventional flash system. In some situations,
a combined cycle using both systems can be employed, with the
specific technology for each project chosen based on the unique
characteristics of the geothermal resource. This collaboration will
leverage Toshiba’s 49 years of expertise in flash systems and
Ormat’s proven leadership in binary systems, to offer an efficient
solution that combines the two technologies and meets the
technological needs of geothermal projects around the world,
enabling Toshiba and Ormat to approach and capture a larger portion
of the geothermal market.
The first project expected to be implemented
under this collaboration is the Menengai geothermal project in
Kenya to be constructed and operated by the Ormat - Symbion Power
LLC - Civicon Ltd Consortium, majority owned by Ormat. The parties
have already initiated negotiations on the supply agreement and the
plant design is at an advanced stage.
The parties are actively analyzing global
prospects for upcoming and potential projects in which they can
jointly submit applications for geothermal power plants utilizing a
geothermal solution consisting of Ormat’s binary system and
Toshiba’s flash system.
Yoshihiro Aburatani, President and CEO of
Toshiba’s Power Systems Company said, “I am pleased that we have
signed the SCA and taken the first step forward in our long-term
strategy. A collaboration between globally respected Ormat and
Toshiba, bringing together Ormat’s capabilities in developing
geothermal projects and its reliable binary equipment and our
expertise in geothermal power, notably our highly reliable flash
type geothermal steam turbines, offers tremendous potential for
delivering comprehensive customer satisfaction. We look forward to
working with Ormat to implement the first project.”
“This milestone collaboration with Toshiba, an
innovation leader in the geothermal steam turbine industry, is
another significant step in our long-term strategy to expand our
presence in the geothermal space and ultimately target the larger
renewable energy market,” commented Isaac Angel, Chief Executive
Officer of Ormat. “We view this collaboration as a key to support
our strategic expansion in the geothermal industry to diversify our
technological base, as well as extend our geographic reach. I
believe that this collaboration of two market leaders, each with
its own area of expertise, will enhance the value proposition to
our clients, expand the market opportunities and accelerate the
growth for both Ormat and Toshiba.”
About Ormat Technologies
With five decades of experience, Ormat
Technologies, Inc. is a leading geothermal company and the only
vertically integrated company solely engaged in geothermal and
recovered energy generation (REG). The company owns, operates,
designs, manufactures and sells geothermal and REG power plants
primarily based on the Ormat Energy Converter - a power generation
unit that converts low-, medium- and high-temperature heat into
electricity. With 69 U.S. patents, Ormat’s power solutions have
been refined and perfected under the most grueling environmental
conditions. Ormat has 470 employees in the United States and over
600 overseas. Ormat’s flexible, modular solutions for geothermal
power and REG are ideal for the vast range of resource
characteristics. The company has engineered, manufactured and
constructed power plants, which it currently owns or has installed
to utilities and developers worldwide, totaling approximately 2,000
MW of gross capacity. Ormat’s current 666 MW generating portfolio
is spread globally in the U.S., Guatemala and Kenya.
Ormat’s 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 February 26, 2015.
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.
About Toshiba
Toshiba Corporation, a Fortune Global 500
company, channels world-class capabilities in advanced electronic
and electrical product and systems into five strategic business
domains: Energy & Infrastructure, Community Solutions,
Healthcare Systems & Services, Electronic Devices &
Components, and Lifestyles Products & Services. Guided by the
principles of The Basic Commitment of the Toshiba Group, “Committed
to People, Committed to the Future”, Toshiba promotes global
operations and is contributing to the realization of a world where
generations to come can live better lives.
Founded in Tokyo in 1875, today’s Toshiba is at
the heart of a global network of over 580 consolidated companies
employing 199,000 people worldwide, with annual sales surpassing
6.6 trillion yen (US$55 billion).
To find out more about Toshiba, visit
www.toshiba.co.jp/index.htm
Ormat Technologies Contact:
Smadar Lavi
Investor Relations
775-356-9029
slavi@ormat.com
Investor Relations Agency Contact:
Miri Segal/Brett Maas
MS/Hayden - IR
917-607-8654/646-536-7331
msegal@ms-ir.com / brett@haydenir.com
Toshiba Press Contact:
Yuu Takase/ Aya Oshima
PR & IR Office, Toshiba Corporation
+81-3-3457-2100
media.relations@toshiba.co.jp
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