In this industry a major ethical issue is the over pricing of their products and services. Because they know that they produce quality products they tend to overprice their commodities an example is on the prices of their turbines…
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Interview: Ormat: Engineer Lucien Bronicki, who is the chairman and chief technology officer and his wife Yehudit Dita Bronicki, the cheif executive officer.
ORMAT was established in 1965, formally known as Ormat Turbines Ltd. Lucien Bronicki worked in a physics laboratory which was funded by the government in the late 1950s. Here, he developed a turbine which would be used for electricity production from a wide range of energy sources which includes solar energy (Bronicki (c)). Later on he retired to exploit his ideas commercially where he set up the Ormat together with his wife. Ormat’s early years only focused exclusively with the manufacture of power generating equipment (Bronicki (a) 3).
During the 1970s the Israeli government gave Ormat technology financial assistance, and also raised additional capital from the private sector investors. All this was for the building of the world’s first power station to produce electricity from solar energy. However this power station did not meet its target as far as economy was concerned so it was abandoned in 1988.
In the 1980s, Ormat began to build systems which generated electricity using heat that would be emitted in industries during industrial processes also known as recovered energy. Later in the year the company ventured into geothermal where they used the company’s technology to generate electricity. In the 1990s Ormat decided to own and be involved with the management of alternative and renewable power station instead of relying on the provision of power generating equipment.
The main product that Ormat technology provides is geothermal power solutions and energy recovery solutions. However, it is involved in the design of turbines, heat exchangers, pumps as well as organic fluids that do not degrade the ozone layer done originally by their designers. The company is also involved with the construction of combined cycle geothermal power plants in which power in a back pressure steam turbine is produces first by steam. The bottom of the vapour turbo generator does the condensing of the vapour. This produces additional power. It also provides services which are related to procurement, construction, engineering, maintenance and operations of recovery energy and geothermal plants. Ormat technologies operates and also owns geothermal power plants in Nevada, Nicaragua, New Zealand, Kenya, California, Hawaii, Indonesia and Guatemala. Worldwide, Ormat has 1069 employees in their Reno headquarters in the United States and the other figures distributed in their other stations in other countries. Below is the ranking of the Ormat technologies from the chief technology officer to the independent director. It is in this order; name, age, since and the current position. Name Age since Current position Lucien Bronicki 77 2004 Chairman of the board, chief technology officer Yehudit Bronicki 70 2007 Chief executive officer, director Yoram Bronicki 45 2007 President, chief operating officer, director Joseph Tenne 56 2005 Chief financial officer Nadav Amir 61 2009 Executive vice president -operations Zvi Krieger 56 2009 Executive vice President- geothermal resources Zvi Reiss 61 2004 Executive vice President- Project Management Joseph Shiloah 66 2010 Executive vice President- Business Development, Special Project, Rest of the World Etty Rosner 56 2007 Executive vice President- Contract Management, Corporate Secretary Shimon Hatzir 50 2009 senior vice President- Engineering Nir Wolf 46 2010 vice President- Business development, marketing and sales, rest of the world Robert Clarke 69 2007 Independent Director Dan Falk 67 2004 Independent Director Roger Gale 65 2005 Independent Director David Wagener 57 2010 Independent Director As of the year 2011 Ormat geothermal provider and technology provider had an increase of 17% to $437 million in total revenues. Their product revenue increase is 39% which accounts for 25% of their total revenues. There was an increase of 11% to $323.8 million in electricity revenues from
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(“Geothermal energy (ethical issues) Research Paper”, n.d.)
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(Geothermal Energy (ethical Issues) Research Paper)
“Geothermal Energy (ethical Issues) Research Paper”, n.d. https://studentshare.org/business/1397773-geothermal-energy-ethical-issues.
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