Canary Media
Summary
Ormat Technologies, the 61-year-old geothermal firm that completed the nation's first enhanced geothermal system demonstration in 2013, is expanding into next-generation geothermal technology as surging data center demand reshapes the economics of clean baseload power. The company is developing new enhanced geothermal pilots with SLB and Sage Geosystems, while also receiving expedited federal permitting approvals for new conventional projects in Nevada, as the Trump administration accelerates energy development on federally managed lands where over 90% of identified U.S. geothermal resources are located. Fervo Energy's IPO in May, which netted approximately $1.9 billion, has further signaled investor confidence in next-generation geothermal as a viable commercial technology.
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