Iceland: Another 97 Heat Power Modules Ordered from Climeon

Climeon obtains doubled order worth 65 MEUR (News Release)

Animation illustrates the simplified cycle of a Climeon Heat Power module.

Swedish company Climeon has signed an agreement with Icelandic company Varmaorka to expand an existing order to a value of about 65 MEUR, from just over 30 MEUR.

In August 2017, Climeon won an order on geothermal power plants from Varmaroka with a value of just over 30 MEUR. Now Varmaorka increases their order of 100 Heat Power modules to 197 modules with a total value of about 65 MEUR, excluding service costs and software licenses.

"The potential of geothermal energy on Iceland with Climeon's technology is greater than we thought a year ago. During the year we have secured several new sites, and we therefore want to increase the speed of our rollout and secure delivery of modules to us," says Ingvar Gardarsson, Chairman of the Board of Varmaorka.

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