Ormat Launches New Corporate Branding Strategy and Website

RENO, Nev., Sept. 18, 2017 (GLOBE NEWSWIRE) -- Ormat Technologies, Inc. ORA today launched a new corporate branding strategy, highlighting its mission to become a leading global renewable energy company by maintaining its leadership in the geothermal market and expanding into new markets and technologies. Following a significant and strategic rebranding process, Ormat launched its new website www.ormat.com, reflecting a cohesive new array of branding elements, including a modernized logo.

Ormat's modern corporate branding is the culmination of the transformation started in mid- 2014. After 50 years of building an established and strong brand as a leader in the geothermal industry, the new generation of senior leadership outlined an updated strategy and defined the company's mission statement.

"Ormat's new corporate branding strategy is built on our rich corporate history as an established industry leader and incorporates the growing opportunities our leadership team is pursuing going forward," noted Isaac Angel, Ormat's Chief Executive Officer. "Building on decades of experience, we are leveraging our core capabilities and industry expertise to create significant, business value for all our stakeholders by advancing beyond Geothermal to energy management and storage solutions. Ormat's brand stands for more than building renewable power plants. Together with our employees, customers and shareholders, Ormat is building a sustainable future."

Click here to learn more on Ormat rebranding story.

ABOUT ORMAT TECHNOLOGIES

With over five decades of experience, Ormat Technologies, Inc. is a leading geothermal company and the only vertically integrated company engaged in geothermal and recovered energy generation (REG), with the objective of becoming a leading global provider of renewable energy. 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 73 U.S. patents, Ormat's power solutions have been refined and perfected under the most grueling environmental conditions. Ormat has 530 employees in the United States and 720 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 over 2,200 MW of gross capacity. Ormat's current 727 MW generating portfolio is spread globally in the U.S., Guatemala, Guadeloupe, Indonesia and Kenya. Ormat also intends to expand its operations and provide energy management and energy storage solutions, by leveraging its core capabilities and global presence as well as through its Viridity Energy Solutions, Inc. subsidiary, a Philadelphia-based company with nearly a decade of expertise and leadership in demand response, energy management and storage.

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 March 1, 2017.

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:
Smadar Lavi
Head of Investor Relations
775-356-9029 (ext. 65726)
slavi@ormat.com

Investor Relations Agency Contact:
Rob Fink/Brett Maas
Hayden - IR
646-415-8972/646-536-7331
rob@haydenir.com / brett@haydenir.com