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Investor Relations Case Study

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ISSUE

Ormat Technologies (NYSE: ORA), an Israeli-based pioneer in the production of geothermal electricity, retained KCSA in September 2004 to help it prepare for its IPO and establish an investor relations presence in the United States. While Ormat was an established company in Israel with a strong operating history, it was unknown by institutional investors outside of the Country. It was not only important for KCSA to work with Ormat to raise its profile in the U.S., but also educate management on what to expect and how to behave as a public company in the U.S.

IDEA

KCSA developed a comprehensive messaging platform that reflected the Company's business strategy and integrated it with all corporate communications. KCSA worked with management to build relationships with Wall Street by making themselves available for investor/analyst calls and meetings. In tandem, KCSA counseled Ormat on how to build out its investor relations infrastructure. KCSA spearheaded the earnings process, drafting the press release and conference call script as well as preparing management for the Q&As. As the relationship progressed, KCSA consulted with management and helped them navigate several major events, including operational challenges at one of its energy plants and the retirement of its CEO and founder.

IMPACT

Ormat Technologies successfully completed its IPO on November 10, 2004. Since then, the Company continues to work with KCSA and during this time has seen its market cap grow 2.5 times to $1.5 billion despite a tough climate for the clean tech sector. During the ten years that Ormat has been a client, KCSA has fielded over 2,500 investor inquires, facilitated more than 800 one-on-one meetings with institutional investors in North America and Europe and coordinated biennial Investor Days. The company continues to maintain a strong institutional investor base and sell-side coverage by top-ranked analysts.

A more than 10 year relationship since its IPO has greatly enhanced shareholder value.