What are Viridity and Ormat?

Ormat is a major geothermal energy developer that has now acquired Viridity. Founded in 1965, Viridity is a company that specializes in software capability and has business lines. Ormat also specializes in waste heat recovery, a valuable source of distributed energy at industrial sites that could be targets of Viridity’s software.

Is investing in Viridity Energy a good decision?

The acquisition of Viridity Energy by a larger company presents opportunities for expansion for the startup. However, the sale price, at first glance, may not be good news for its investors.

Will viridity generate a positive operating income this year?

Ormat expects Viridity to generate a positive operating income this year. Under the acquisition, which is expected to close in early 2017, Viridity will 'continue operations and retain current management and staff, as well as maintain all customer relationships and agreements'. Ormat did say this.

How much money did Viridity raise in total?

Viridity raised approximately \$35 million in total. They received about \$8 million in 2009 from initial investor AltEnergy, \$8.5 million in 2010, \$14 million in 2011 from Intel Capital and Braemar Energy Ventures, and \$15 million in 2012 from Japan’s Mitsui.

How much money did Viridity get from Altenergy?

Viridity raised about $8 million from initial investor Altenergy. This is the amount Altenergy invested in Viridity.