Ormat invests $25 million in Sage Geosystems as part of Series B funding

Ormat Technologies/Blue Mountain EGS Expansion

Ormat Technologies co-led a $97 million Series B financing for Sage Geosystems with a $25 million investment. Ormat will host Sage's Project Vector EGS pilot at its Blue Mountain geothermal facility in Nevada, with drilling planned for Q4 2026 and first electricity generation targeted for 2027.

• Ormat and Carbon Direct Capital co-led Sage's Series B at over $97 million total.
• Sage's Pressure Geothermal technology will be piloted at Blue Mountain with two wells.
• Upon successful completion, Ormat gains the right to develop and operate geothermal and energy storage projects using Sage's technology.
• The partnership accelerates EGS commercialization alongside Ormat's existing conventional geothermal operations.