Ormat Technologies Secures Up to $35 Million in US DOE Geothermal Funding

05:14 PM EDT, 09/24/2026 (MT Newswires) -- Ormat Technologies (ORA) has secured up to $35 million in US Department of Energy funding to advance geothermal projects in Nevada and Utah, the company said late Thursday. Up to $25 million of the funding will support the Dixie Valley project's design, drilling, testing and validation in Nevada, in partnership with SLB (SLB) and the University of Utah, Ormat said. The remaining $9.7 million will support drilling and subsurface characterization in the Cove Fort project in Utah, in partnership with the University of Utah, the company said. The awards are subject to completion of negotiations with the DOE, the company added.