Promote opportunities and business activities for the future
Landsvirkjun's energy-related innovation projects have been a vitamin injection for business life in regional Iceland, as in the last five years, projects related to Eimur in the North, Orkídea in the South, and Blámi in the Westfjords have received grants in the amount of more than ISK 1.7 billion.
There are 16 employees for the projects, in many cases expert people, who have moved back to their local area after getting a job that suits them.
In total, the sponsors of the projects have contributed around ISK 680 million, while other grants amount to over one billion. They are of various kinds, but the largest are Horizon and Life-grants from the European Union and grants from national funds such as Orkusjóður, Lóa, and Matvælasjóður, a fund sponsoring innovation in food production.
The collaborative projects have in common the goal of promoting energy-related innovation and energy exchange by building on each region's strengths, resource streams, and interests. Therefore, the grants only tell part of the story because they contribute to opportunities and business activities for the future if successful.
ISK 460 million in the North
Eimur, Landsvirkjun's joint project in the North, aims to improve the use of resources by using sustainability, innovation, and value creation as guiding principles. Its sponsors are, in addition to Landsvirkjun, the Ministry of the Environment, Energy, and Climate, the Association of Municipalities and Economic Development in the North East, the Association of Municipalities in the North West, the utility companies Norðurorka and Orkuveita Húsavíkur. A total of ISK 460 million has been awarded to the project since 2020.
ISK 770 million for projects in the South
Orkídea is a collaborative project on innovation in the South organised by Landsvirkjun, the Association of Southern Municipalities, the Agricultural University of Iceland, and the Ministry of the Environment, Energy, and Climate. The purpose of Orkídea is to promote the development of energy-related food production and a circular economy in the South. Grants to Orkídea in the last four years amount to ISK 770 million.
Almost half a billion to the Westfjords
Blámi is a joint project of Landsvirkjun, Westfjord Power Company (Orkubú Vestfjarða), the Ministry of Environment, Energy and Climate Change, and the Westfjords Regional Development Office. Blámi's primary goal is to support and promote innovation and the development of energy exchange projects by increasing the share of ecological fuel, hydrogen, and electric fuel in transport and industry. In total, grants for Blámi's projects amount to ISK 480 million during the aforementioned period.
Finally, Landsvirkjun's fourth joint project, Eygló in East Iceland. Eygló started operations at the beginning of 2024. Its main goal is to promote innovation and development, emphasising improving the efficiency of side streams and integrating them into new value creation. Sponsors are Landsvirkjun, the Ministry of Environment, Energy and Climate, Austurbrú, and municipalities in East Iceland; Múlaþing, Fjarðabyggð, Fljótdalshreppur, and Vopnafjarðahreppur.
