Where is the best place to build an energy-based business? Helga Kristín Jóhannsdóttir, Head of ON Power’s Geothermal Park, addresses that question and more in a feature filmed at the Hellisheiði Power Plant, where the Geothermal Park spans more than 100 hectares.
The video also features representatives from companies operating within the park: Kristinn Hafliðason, CEO of VAXA Technologies, and Jan Wurzbacher, Co-CEO of Climeworks. They explain how collaboration and responsible resource utilization create opportunities that are difficult to find elsewhere.
Helga Kristín also discusses the long-term vision for the Geothermal Park and the philosophy behind its development. The park is a community of companies built around renewable energy, circular thinking, and responsible use of resources. Located next to the Hellisheiði Power Plant, businesses have access to electricity, water, land, and other resources, creating ideal conditions for innovation and growth.
“At the Geothermal Park, we welcome forward-looking companies that want to use the area’s resources responsibly and create value through circular thinking,” says Helga Kristín in the video. “The advantages of being part of the Geothermal Park are numerous — not least the opportunity to start small and grow within the park.”
A Vibrant Innovation Community
“VAXA would not exist without the Geothermal Park,” says Kristinn Hafliðason of VAXA Technologies. He explains that the company’s entire technology platform is built around what the Hellisheiði Power Plant offers, and that VAXA utilises all the energy streams it needs directly from the plant.
Kristinn says the collaboration with ON Power has been extremely successful, and Jan Wurzbacher of Climeworks shares a similar view. He notes that cooperation with other companies in the park enables Climeworks to develop and scale its carbon capture solutions while also making its operations more efficient.
The video clearly demonstrates how companies with different types of operations can benefit from the same resources while simultaneously creating value for one another through circular thinking — one of the core objectives of the Geothermal Park.
Part of ON Power’s Future Vision
Helga Kristín says the Geothermal Park has become an important part of ON Power’s future vision.
“In the coming years, we aim to expand and strengthen the Geothermal Park. We envision a diverse range of companies operating within the park, including agricultural and biotechnology companies, as well as any businesses guided by sustainability and interested in making the best possible use of the area’s resource streams.”
