Green by Iceland


Einar Örn Sigurdórsson, Marketing Director

Advania is "The Tech Company with people at heart" operating across the Nordics and UK. We aim to be a part of the solution, and it is our belief that smart use of technology is one key to a sustainable future. Advania is one of few companies in Iceland that has its GHG emission reduction targets approved by the Science Based Targets initiative. We emphasize on the importance of educating society about the impact of technology, to continuously seek ways and means to implement sustainability into our operations and last but not least to increase the share of women in IT. 
We see our participation in COP as a key opportunity to learn even more about the challenges facing our world and to learn how we can further our efforts in finding solutions to advance the global movement to a sustainable future. 


Sigurður Atli Jónsson, CEO
Haukur Harðarson, Chairman & Founder

Arctic Green Energy is a leading developer, investor, and operator of profitable green energy projects. Our company and its JVs form the world’s largest and fastest growing geothermal heating & cooling consortium.

Today the companies in our portfolio are developing or operating more than 850 geothermal projects in over 70 municipalities across Asia and Europe. Our projects range from heating and cooling to electric power generation. Our primary resources are geothermal systems, but we also have experience in utilising waste heat, ground source heat pump and solar energy. Our management systems are AI driven and seamlessly integrate our renewable energy solutions, constantly monitoring and adapting to variation in supply and demand.

In 2023 alone our company is saving 5.2 million tons of CO₂ by using geothermal for heating and cooling.


Guðbjörg Rist, CEO

Atmonia is a developing groundbreaking technology for sustainable fuel and fertiliser production, with an electrolyser that directly produces ammonia.


Edda Pind Aradottir, CEO
Sandra Ó. Snæbjörnsdóttir, Head of Carbfix Technology

Carbfix captures CO2 and turns it into stone underground in less than two years through proprietary technology. The company’s mission is to significantly contribute to climate recovery through worldwide scaling and further development of underground CO2 mineral storage.


Kristjana Maria Kristjansdóttir, COO
Björk Kristjánsdóttir, CEO

CRI is a recognized technology leader in the Carbon Capture and Utilization market, offering a one-of-a-kind CO2 to methanol solution. Founded in 2006 in Iceland, CRI has its origins in producing and selling the world‘s first certified E-methanol. Since then, the company has extended its reach by developing, scaling, and deploying CO2 to methanol plants worldwide.

Today, CRI provides a comprehensive range of end-to-end solutions, including its proven-at-scale ETL technology. With its current technology portfolio capacity to recycle over 300,000 tonnes of CO2 annually, the company stands at the forefront of harnessing carbon emissions and hydrogen for sustainable fuels and chemical production.



Guðmundur Sigbergsson, Co-CEO
Ólafur Páll Torfason, Co-CEO
Björn Halldór Helgason, Head of Product

The International Carbon Registry provides electronic registration for climate projects and issuance ICR carbon credits (ICCs) to climate projects that conform to ICRs requirements and ISO 14064-2. In this way, ICCs represents high-integrity carbon credits from projects across the globe as they arise from internationally acknowledged standards and commonly agreed upon carbon principles. ICR registry platform also serves as the registry for afforestation projects and issuance Forest Carbon Units (FCU) in Iceland according to the Forest Carbon Code issued by the Icelandic Forest Service.

Founded in 2020 and headquartered in Iceland, the International Carbon Registry is a global organization dedicated to addressing the challenges of climate change. Our team of experts is passionate about creating real, measurable impact and helping our clients achieve their sustainability goals.



Hjalti Páll Ingólfsson, Director
Björn Þór Guðmundsson, Chief Project Officer

The Geothermal Research Cluster (GEORG) is a non-profit organization which aims at promoting research and development of geothermal resources in a sustainable way and contribute to reducing the world’s dependence on carbon-based energy sources. GEORG brings together various actors in the geothermal field to contribute to the acceleration of the uptake of geothermal energy internationally and increase its value creation in research, engineering, and design for the benefit of society.



Kristín Linda Árnadóttir, Deputy CEO
Haraldur Hallgrímsson, Director of Business Development
Johanna-Hlin Audunsdottir, Director
Jónas Hallgrímsson, Senior Business Analyst
Adrianna Gajdel-Pautasso, Advisor
Thora Arnorsdottir, Director of Communications

Landsvirkjun is the National Power Company of Iceland. We are 100% renewable power generator with 2150 MW installed capacity. We operate a portfolio of renewable power plants including hydroelectric and geothermal. Landsvirkjun is at the forefront of Iceland's energy transition, for which we are currently expanding our energy portfolio, and has set itself ambitious decarbonization goals (carbon neutral before the end of 2025). We are actively looking for business and R&D cooperation in various areas of decarbonization, esp. hard to abate transportation, data centers and food supply chains.


Árni Hrannar Haraldsson, CEO

ON Power produces and sells electricity and water in Iceland, mainly by harnessing geothermal energy. The objective is to protect the interests of the country´s natural resources and the company’s customers, guided by the principle of sustainability. In so doing, the company supports innovation and the responsible utilisation of natural resources and promotes energy switching to a lower ecological footprint for the benefit of society as a whole.



Ingibjörg Lilja Þórmundsdóttir, Chairwoman of the board
Rakel Sigurjónsdóttir Solution Specialist

Rafal, is a comprehensive solutions provider for the energy sector, with a primary emphasis on electricity, communications, and essential infrastructure.
Our team consists of 120 highly skilled professionals who share a common vision. We value diversity and inclusivity and recognize the importance of gender diversity as an integral part of our commitment to these values.
We hold ourselves to the highest standards of quality and excellence, evident in our BSI ISO 9001:2015 certification. We are also proud members of the Festa – Centre for Sustainability, where we actively engage in initiatives that demonstrate our unwavering commitment to sustainability and social responsibility.
In every project, every partnership, and every decision we make, our values and purpose guide us. We are more than a company; we are a community of like-minded individuals driven by a shared purpose, committed to our core values, and focused on creating a lasting impact on the energy sector and the world.



Sævar Freyr Þráinsson, CEO
Hera Grímsdóttir, Head of research and innovation
Breki Logason, Head of communication and marketing

Reykjavik Energy, a power and utility company, operates through four subsidiaries and is jointly owned by three municipalities. The company confidently strives towards using resources sustainably and cost-effectively. Its unwavering commitment is to provide households, businesses, and institutions with energy services at fair and competitive prices while adhering to statutory obligations.


Kristinn Hróbjartsson, General Manager
Bradley Rochlin, Director of Strategic Partnerships

Running Tide is a global ocean health company, headquartered in Portland, Maine and with extensive operations in Iceland. Running Tide deploys comprehensive solutions for ocean-based carbon removal, biodiversity enhancement, and ecosystem restoration, which are based on best available science and first-principles engineering, and measured and monitored via our cutting-edge data collection and analysis systems. Running Tide delivered the world's first quantified ocean-based carbon credits based this year as part of an ongoing research project out of Iceland



Ariel Johann Arnason, CEO
Carl Arnold, Head of client outreach and sales

Surefni Certified Credits (SCC) is a boutique environmental consulting firm and project developer, focusing solely on the Voluntary Carbon Market (VCM). SCC has worked for a variety of clients on carbon offsetting, emission reduction and project development, most notable of which are the Isorka EV charging stations and Pure North plastic recycling projectscertified in accordance with Verra methodologies. Located within the pristine nature of Iceland these initiatives utilize the sustainable energy of the country to power reductions in emissions and plastic waste.
These initiatives mark significant milestones in environmental conservation, funded through the accreditation and sale of credits on the Voluntary Carbon Market (VCM). With an estimated combined value of $50 million in carbon and plastic credits, these projects demonstrate the considerable impact the market of high quality credits can have for project developers to expand and amplify their environmental benefits.



Kolbeinn Hilmarsson, CEO
Snjólaug Ólafsdóttir, Chief Product Officer & Client Relations Lead

Svarmi helps companies measure, monitor, report, and act to mitigate their nature-related risks, in alignment with rapidly emerging requirements for nature reporting, such as the Taskforce on Nature-Related Financial Disclosures (TNFD) framework and the EU Corporate Sustainability Reporting Directive (CSRD). Svarmi's core solution is DATACT® - a nature data platform which uses data across different sources, ranging across global databases, satellites, airplanes, drones, ground sensors, company data, and human observations, to build trust throughout the development, deployment, and operations of large infrastructure and production facilities with significant nature dependencies and impacts. Svarmi works  companies across renewable energy production, energy transmission and other large infrastructure, as well as food & beverage.



Davíð Helgason, Founder
Kjartan Olafsson, Founder and CEO
Margret Ormslev Asgeirsdottir, Head of Operations

Transition Labs is a private climate initiative that leverages favourable circumstances in Iceland to speed up the world's transition to a more sustainable economy. We do this by partnering with select high-impact climate projects from around the world, helping them unlock value by fast-tracking their journey to large-scale deployment. We don‘t think about Iceland as a final destination but as the ideal launch-pad to future growth around the world.



Björgvin Pétursson, CEO

Yggdrasill Carbon (YGG) is a company founded in Egilsstaður in 2020 and works on nature-based climate solutions that provide certified carbon credits. One certified unit of carbon is when one ton of carbon dioxide, which has been measured using approved methods and certified as such, is removed from the atmosphere, or is prevented from entering the atmosphere. For the time being, our main focus is on carbon sequestration in the forest, but along with those projects, we are working on the development of projects related to soil carbon sequestration and the reduction of carbon dioxide emissions through the restoration of wetlands.



Crystal Riedemann, VP Business Development Carbon Impact

VAXA is a global climate tech company that has developed a new scientific approach for the sustainable production of microalgae with a significant CO2 offset impact while delivering exceptional nutritional value.
VAXA has a verified carbon-negative process that converts clean energy to food (E2F) by leveraging the natural sources of waste heat, CO2 emissions, 100% clean energy, and pristine water from Iceland‘s ON Geothermal Park. In addition, the process utilizes less than 1% of the land and water used in conventional microalgae production and uses no herbicides/pesticides.
IUS closes the gap of essential nutrients in plant-based diets, supports the dietary needs of pregnant women and the elderly, and is a key ingredient in essential food fortification in developing economies.

Icelandic Companies at COP-28