Ormat and Toshiba Sign Strategic Collaboration Agreement
14 Outubro 2015 - 11:14PM
Business Wire
Collaboration Expected to Increase
Geothermal Market Opportunities to Support Future Growth
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
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Ormat Technologies Contact:Smadar Lavi, 775-356-9029Investor
Relationsslavi@ormat.comInvestor Relations Agency Contact:Miri
Segal/Brett Maas917-607-8654/646-536-7331MS/Hayden -
IRmsegal@ms-ir.com / brett@haydenir.comorToshiba Press
Contact:Toshiba CorporationYuu Takase/ Aya Oshima,
+81-3-3457-2100PR & IR Officemedia.relations@toshiba.co.jp
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