Ormat Technologies Appoints Two New Independent Directors to the Companyís Board

Source: www.gulfoilandgas.com 6/3/2022, Location: North America

Ormat Technologies, Inc. announced the election at its annual meeting of stockholders, held on June 2, 2022, of Michal Marom and Karin Corfee to the Companyís Board of Directors, effective immediately. Ms. Marom will also serve as the Chair of the Audit Committee and a member of the Compensation Committee. Ms. Marom and Ms. Corfee will replace the departing Board members Dan Falk and Albertus Bruggink, respectively. With these new additions, one third of Ormatís Board of Directors will be represented by women.

Ms. Marom joins Ormatís Board of Directors having served in numerous senior executive leadership roles. Ms. Marom currently serves on the Board of Directors and the audit and compensation committees of several publicly traded companies in the U.S. and Israel. From 2011 to 2015, Ms. Marom served as the Chief Financial Officer of Linkury Ltd., an Israeli high-tech company she co-founded. Ms. Marom is a Certified Public Accountant in Israel and acts as a consultant providing strategic advice on business models and financial transactions.

Ms. Corfee brings to Ormatís Board of Directors over 30 years of experience in the energy industry. Ms. Corfee currently serves as Vice President, Professional & Advisory Services at Kevala LLC, a power grid analytics company, a position she has held since October 2021. Ms. Corfee is also the founder and CEO of KC Strategies LLC, a business consultancy firm specializing in climate and sustainability services, which she has held since the companyís founding in April 2021. Most recently, she served as Partner and Western Team Leader at Guidehouse from October 2019 to April 2021. Ms. Corfee served as Managing Director and Leader of Clean Energy Programs and Sustainability at Navigant Consulting, Inc. Prior to Navigant, Ms. Corfee was the Vice President and West Coast DSM Manager at KEMA Inc., a global energy consultancy company. Ms. Corfee was nominated to Ormatís Board of Directors by ORIX Corporation pursuant to its board nomination right under its previously disclosed agreement with the Company.

Doron Blachar, CEO of Ormat, said, ďWe are very pleased to announce the addition of Michal and Karin to Ormatís Board of Directors and we look forward to the contributions that both directors will bring to Ormat. Michal brings significant board experience through her time serving as a director for publicly traded corporations, and Karinís deep energy industry knowledge and advisory experience, particularly in the field of sustainability, will help guide Ormat as it continues to pursue its growth goals and emerge as the dominant renewable energy player in the United States. We would also like to thank both Dan Falk and Albertus Bruggink for their time as directors and their dedication to the ongoing success of Ormat. We remain excited for the future of our Company under the direction of the new members of the Board of Directors.Ē


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