Ormat Technologies Strengthens Leadership Team with Key Appointments to Support Growth in Renewable Energy Sector

Ormat Technologies Announces Strategic Leadership Changes

RENO, Nev., June 5, 2025 (GLOBE NEWSWIRE) — Ormat Technologies, Inc. (NYSE:ORA), a leading company in geothermal and renewable energy, is excited to announce the addition of two esteemed executives to its senior management team. These strategic appointments are set to drive the next phase of the Company’s growth and improve its operational performance in the renewable energy sector.

Aron Willis Appointed Executive Vice President, Electricity Segment

Effective June 4, 2025, Aron Willis will take on the role of Executive Vice President for the Electricity Segment at Ormat Technologies. In this position, Aron will manage the operations of the Electricity Segment, ensuring alignment with the Company’s strategic objectives and financial targets. He will also focus on optimizing plant performance, applying advanced AI tools, ensuring compliance with safety and environmental regulations, and driving continuous improvement initiatives to support future growth.

Aron brings over 25 years of extensive experience in the power generation industry, demonstrating a strong record of leadership, financial acumen, and operational expertise. His career includes notable positions at TransAlta Corporation and Northwest Digital Power, where he excelled in managing large-scale operations and executing significant growth initiatives. At TransAlta Corporation, Aron held several senior roles, including Executive Vice President of Project Delivery & Construction, Executive Vice President of Growth, and Senior Vice President of Operations & Commercial Management. He also led TransAlta’s Australian operations for a decade, overseeing approximately 500MW of generating capacity. Aron earned a Bachelor of Commerce degree with a major in Finance from the University of Calgary.

Daniel Moelk Appointed Senior Vice President, Resources, Drilling & EGS

Starting in July 2025, Daniel Moelk will join Ormat as Senior Vice President for Resources, Drilling, and EGS. Daniel will lead the Resources, Drilling, and EGS teams, concentrating on implementing advanced processes and innovative technologies. His efforts will include enhancing efficiencies through AI tools and developing Ormat’s global roadmap for drilling and exploration.

With nearly 18 years of valuable experience in operations and drilling management within the geothermal sector, Daniel most recently served as Executive Vice President of European Operations for Eavor Technologies Inc., where he successfully managed some of the industry’s most challenging drilling campaigns. Throughout his career, he has played critical roles in expanding geothermal drilling operations, particularly at companies such as Steag GMBH, PT Sejahtera Alam Energy in Indonesia, Daldrup & Sohne AG, Mannvit Engineering Consultants, and Iceland Drilling Inc. Daniel holds a degree in Mechanical Engineering from the University of Iceland.

Commitment to Growth

“We are thrilled to welcome Aron Willis and Daniel Moelk to Ormat’s leadership team, where their extensive backgrounds and experience will help drive the next phase of development and growth for our leading geothermal operations,” said Doron Blachar, Chief Executive Officer of Ormat Technologies. “Their proven track records in the power generation and geothermal industries will be invaluable as we continue to support our growth through ongoing innovation. These appointments reflect our commitment to strengthening our leadership team, advancing our strategic objectives for generation growth, expanding our profitability, and focusing on EGS development. I am confident that Aron and Daniel, both of whom will report directly to me, will be crucial to our continued success.”

Blachar also expressed gratitude towards Shimon Hatzir for his long-standing service with the Company and his exceptional leadership and dedication over the past 36 years. Hatzir has made significant contributions to Ormat in various roles, including leading the R&D and engineering division, driving technology developments, and overseeing the design of numerous power plants. He has also managed the energy storage segment and most recently led the Electricity Segment, including Resource and Drilling operations. Blachar wished him all the best in his well-deserved retirement.

About Ormat Technologies

With six decades of experience, Ormat Technologies, Inc. is a leading geothermal company and the only vertically integrated entity engaged in geothermal and recovered energy generation (REG). The Company has ambitious plans to accelerate long-term growth in the energy storage market and establish a leading position in the U.S. energy storage sector. Ormat designs, manufactures, operates, and sells geothermal and REG power plants primarily based on the Ormat Energy Converter, which converts various temperature heat into electricity. Currently, the Company owns or has installed power plants with a total gross capacity of approximately 3,400MW worldwide.

Ormat has expanded its operations into energy storage services, solar photovoltaic (PV) projects, and energy storage combined with solar PV. The Company’s total generating portfolio currently stands at 1,538MW, with a geothermal and solar generation capacity of 1,248MW spread across the U.S., Kenya, Guatemala, Indonesia, Honduras, and Guadeloupe, alongside a 290MW energy storage portfolio located in the U.S.

Forward-Looking Statements

This press release may contain forward-looking statements regarding future events and expectations. These statements, which are not historical facts, involve risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties are detailed in Ormat’s annual report on Form 10-K filed with the Securities and Exchange Commission (SEC) on February 27, 2025, and in subsequent quarterly reports filed with the SEC. Ormat assumes no obligation to update any forward-looking statements unless legally required.

Contact Information

Ormat Technologies Contact:
Smadar Lavi
VP Head of IR and ESG Planning & Reporting
775-356-9029 (ext. 65726)
[Email: smadar.lavi@ormat.com](mailto:smadar.lavi@ormat.com)

Investor Relations Agency Contact:
Joseph Caminiti or Josh Carroll
Alpha IR Group
312-445-2870
[Email: jcaminiti@alpha-ir.com](mailto:jcaminiti@alpha-ir.com)