Success with Enhanced Geothermal Systems Changing the Future of Geothermal Power in the U.S.
Success with Enhanced Geothermal Systems Changing the Future of Geothermal Power in the U.S. DOE, Ormat and GeothermEx Collaboration Produces Electricity Using In-field EGS PR Newswire RENO, Nev., April 10, 2013 RENO, Nev., April 10, 2013 /PRNewswire/ -- Ormat Technologies, Inc. (NYSE: ORA), the U.S. Department of Energy and GeothermEx successfully produced 1.7 additional megawatts from an Enhanced Geothermal System (EGS) project inside an existing wellfield in the U.S. This is the first EGS project to be connected to the electricity grid. Using innovative subsurface technologies, research and development teams stimulated an existing sub-commercial injection well resulting in a 38 percent increase in power output from brine at Ormat's Desert Peak 2 geothermal power plant in the Brady complex, Churchill County, Nev. (Logo: http://photos.prnewswire.com/prnh/20040422/LATH066LOGO) Support for the project included $5.4 million in direct DOE funding, $2.6 in million investment from Ormat, and more than four years of collaborative work with partners including Lawrence Berkeley National Laboratory, U.S. Geological Survey, Sandia National Laboratory, University of Utah EGI, Temple University and TerraTek. By expanding existing hydrothermal fractures deep within the Earth's crust, EGS technology enhances the permeability of underperforming wells, making it possible to extract additional heat from a reservoir's rocks and inject geothermal fluid at higher flow rates. Ormat's air-cooled power plants are the technology of choice for EGS developments, as they don't consume water in the conversion of energy into electricity; all the geothermal fluid is re-injected, to be produced again after heating in the reservoir. "This research and development project was conducted under a stringent induced seismicity protocol developed by LBNL and the Department of Energy. We achieved an increased injection rate up to 1,600 gallons per minute without consuming or discharging water at the surface and using only existing geothermal brine returned to the original aquifer," explained Lucien Bronicki, founder and chief technology officer for Ormat. "Our objective in the Desert Peak EGS project was to demonstrate that this technology can have a significant impact on sub-commercial wells. This could enable us to use unproductive wells to generate more power and new revenue." "DOE's Geothermal Technologies Office is changing geothermal development in the U.S.," Bronicki added. About Ormat Technologies, Inc. With over four 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 over 82 U.S. patents, Ormat's power solutions have been refined and perfected under the most grueling environmental conditions. Ormat's flexible, modular solutions for geothermal power and REG are ideal for the vast range of resource characteristics. The company has engineered and built power plants, which it currently owns or has supplied to utilities and developers worldwide, totaling approximately 1600 MW of gross capacity. Ormat's current generating portfolio of 575 MW (net) includes Brady, Brawley, Heber, Jersey Valley, Mammoth, McGinness Hills, Ormesa, Puna, Steamboat, Tuscarora, OREG 1, OREG 2, OREG 3 and OREG 4 in the U.S.; Zunil and Amatitlan in Guatemala; Olkaria III in Kenya; and, Momotombo in Nicaragua. 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 11, 2013. 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: Heidi Bethel Public Relations Manager 775-336-0147 firstname.lastname@example.org SOURCE Ormat Technologies, Inc. Website: http://www.ormat.com