ON Power and the Iceland Ocean Cluster have signed a memorandum of understanding to collaborate on innovation related to sustainable resource utilization, environmental protection, and the energy transition. Through this partnership, the two parties aim to strengthen connections between Glóð and the blue economy, share knowledge, and create a platform for developing new projects that promote sustainability and innovation.
ON Power operates the Geothermal Park at the Hellisheiði Power Plant — a green industrial park where companies utilize geothermal by-products with a focus on circularity and sustainable innovation. Glóð, which will be established within the Geothermal Park, is envisioned as a hub for innovation, collaboration, and knowledge exchange, and will provide facilities for geothermal research and innovation.
The Iceland Ocean Cluster has for many years been a leader in building a strong community of companies, entrepreneurs, and academia within the blue economy. At the Ocean Cluster House, startups are provided with space to grow, strengthen their networks, and create new opportunities linked to the seafood industry and related fields. The Cluster works closely with a wide range of companies, supports entrepreneurs, and invests in innovation.
The goals of the collaboration include drawing on the experience of the Ocean Cluster House when developing Glóð, establishing Glóð as a platform for companies that see synergy between geothermal energy, innovation, and the blue economy, and working systematically together on the development of innovation projects with a focus on sustainability, responsible resource utilization, and the energy transition.
The memorandum of understanding was signed by Ingunn Gunnarsdóttir, Head of Innovation at ON Power, and Þór Sigfússon, Chairman of the Iceland Ocean Cluster.
“At ON Power, we view this partnership as an important step toward strengthening knowledge and innovation in sustainable resource utilization,” says Dr. Ingunn Gunnarsdóttir, Head of Innovation at ON. “By drawing on the experience of the Ocean Cluster House in developing Glóð, we can create a vibrant innovation environment where ideas can take shape and thrive. We see great opportunities in connecting energy and the ocean — two pillars of the Icelandic economy.”
