At the Geothermal Park, we aim to create a circular community where partners share infrastructure, knowledge, and resources to minimize waste and maximize benefits for businesses, society, and nature. We support innovation related to geothermal energy and sustainability, thereby accelerating the development of green technology solutions. Together, we work towards the responsible use of the site’s resources.
Work is underway to develop the Innovation Hub within the Geothermal Park. In the Geothermal Parks Innovation Hub, smaller companies as well as university and research projects can apply for space and access to resources. All of the companies in the Geothermal Park started out as dynamic startups in a Innovation Hub and have since had the opportunity to grow and thrive
Carbfix is a technology solution that permanently binds carbon dioxide in rock in under two years. The method accelerates natural processes in reactive basalt, providing secure and permanent storage at lower cost than many alternatives. The company has applied this technology since 2012 and is now a world leader in its field.
ON POWER is Iceland’s sole hydrogen producer. The VON hydrogen station at the Hellisheiði plant has been producing hydrogen for transportation since 2020
At ON POWER’s Geothermal Exhibition at the Hellisheiði plant, visitors can learn about Icelandic geothermal energy production, the operations of the Hellisheiði plant, and how the site’s resources are responsibly utilized in the Geothermal Park.
VAXA Technologies is a high-tech company specializing in the cultivation of microalgae for the production of dietary supplements and natural colorants. The company has grown from a small startup operating in a single test tank to running a multi-square-meter facility in the Geothermal Park.
GeoSilica leverages Iceland’s unique geothermal resources to produce a pure, natural silica supplement that supports healthy joints, bones, and skin.
Climeworks is a global leader in direct air capture (DAC). In the Geothermal Park, Climeworks had the opportunity to test and refine its technology bringing it to its current state. The Geothermal Park is home to two air-capture facilities, Orca and Mammoth, where CO₂ is captured from the atmosphere and injected underground in collaboration with Carbfix.
Our collaboration with the companies in the Geothermal Park means that we can fully harness the electricity and diversify the resource streams of the power plant. The companies on site are not only directly connected to the plant; they also have the opportunity to connect with one another, sharing resources, infrastructure, and services to everyone’s benefit. Furthermore, there are opportunities to work together for better utilization within the Geothermal Park, so that the run-off or waste of one company can become a valuable resource for another.
All of the companies currently operating in the Geothermal Park have grown out of dynamic innovation startups. We welcome young innovation companies with open arms because we know that their solutions will shape our shared future.
We welcome to our community sustainability-focused companies, startups, and innovation projects working in sectors such as power generation and energy utilization, agriculture, algae farming, biotechnology, tourism, eco-friendly material production, and those emphasizing health and well-being.