UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report: September 24, 2007

Ormat Technologies, Inc.

(Exact name of registrant as specified in its charter)

Delaware

(State of Incorporation)

     
001-32347
(Commission File No.) 		  No. 88-0326081
(I.R.S. Employer Identification No.)
     
6225 Neil Road, Suite 300, Reno, Nevada
(Address of principal executive offices) 		  89511
(Zip code)

(775) 356-9029
(Registrant’s telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 

 

TABLE OF CONTENTS

Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Item 9.01

Financial Statements and Exhibits

Signatures

Exhibit Index

Ex-99.1

Press Release

 

 

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INFORMATION TO BE INCLUDED IN THE REPORT

Item 5.02.

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Item 5.02(b): Ms. Dita Bronicki, who is stepping down from the position of President, will continue to serve as the Company’s Chief Executive Officer.

A copy of the Registrant’s press release in connection with the above, dated September 20, 2007, is furnished as Exhibit 99.1 to this report on Form 8-K and is incorporated herein by reference.

Item 5.02(c): On September 20, 2007, the Board of Directors of the Company appointed Yoram Bronicki, currently the Company’s Chief Operating Officer, to the position of President, effective immediately. Mr. Bronicki will continue to serve as the Company’s Chief Operating Officer in addition to his duties as President.

Information required by this Item, in addition to that set forth above, is incorporated herein by reference to the Company’s Annual Report on Form 10-K, dated March 12, 2007.

Item 9.01. Financial Statements and Exhibits.

(c) Exhibits

The following exhibits are furnished as part of this report on Form 8-K:

 

99.1

Press release of the Registrant dated September 20, 2007.

Safe Harbor Statement

Information provided in this report on Form 8-K 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 the Registrant’s plans, objectives and expectations for future operations and are based upon 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 12, 2007.

These forward-looking statements are made only as of the date hereof, and the Registrant undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

ORMAT TECHNOLOGIES, INC.
                  (Registrant)

 

By: 


/s/ Yehudit Bronicki

 

 

 

Yehudit Bronicki
Chief Executive Officer

 

Date: September 24, 2007

 

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EXHIBIT INDEX

 

Exhibit
Number

 


Description

 

 

99.1

 

Press Release of Registrant dated September 20, 2007

 

 

 

 

-5-

 

 


 

 

 

 

PRESS RELEASE

 

For Immediate Release

Ormat Technologies Contact:

Investor Relations Contact:

Dita Bronicki

Todd Fromer/ Marybeth Csaby

CEO

KCSA Worldwide

+1-775-356-9029

+212-896-1215 / 212-896-1236

dbronicki@ormat.com

tfromer@kcsa.com / mcsaby@kcsa.com

 

Yoram Bronicki Appointed President of

Ormat Technologies

RENO, Nevada, September 20, 2007 - Ormat Technologies, Inc. (NYSE: ORA), today announced that its Board of Directors has appointed Yoram Bronicki, currently the Company’s Chief Operating Officer, to the position of President, effective immediately. Mr. Bronicki will continue to serve as the Company’s Chief Operating Officer in addition to his duties as President. Dita Bronicki, who is stepping down from the position of President, will continue to serve as the Company’s Chief Executive Officer.

Commenting on the promotion, Mr. L.Y. Bronicki, Chairman, stated, “Yoram has done an excellent job as our Chief Operating Officer over the past three years, during which time we have seen substantial growth in the capacity of the power plants which we own and operate. We look forward to Yoram expanding his role at Ormat as our President and feel confident that his expertise and knowledge of our operational activities will serve as a key asset in preparing the Company for its next level of growth. We are equally pleased that Dita will continue to lead the Company in her role as CEO”.

About Ormat Technologies

Ormat Technologies, Inc. is a vertically-integrated company primarily engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy power plants using Organic Rankine Cycle (ORC) technology. Additionally, the Company designs, manufactures and sells geothermal and recovered energy power units and other power generating equipment, and provides related services. Ormat is a pioneer and a leader in the manufacture of ORC power equipment its products and systems are covered by approximately 70 patents. Ormat currently operates the following geothermal power plants: in the United States - Brady, Heber, Mammoth, Ormesa, Puna and Steamboat; in the Philippines - Leyte; in Guatemala - Zunil; in Kenya - Olkaria; and in Nicaragua - Momotombo. In the U.S., Ormat owns and operates four OREG1 Recovered Energy Generation plants.

 

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 12, 2007.

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.

 

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