Iceland: Hellisheiði Geothermal Power Plant Carbfix Operations Spun-Off from Parent Company

CarbFix as a subsidiary (News Release)

Hellisheiði Geothermal Power Plant
(Courtesy Reykjavík Energy)

The Board of Directors of Reykjavík Energy (OR) has approved, subject to the confirmation of OR’s owners, to establish a public limited company (PLC) around CarbFix operations. The CarbFix process has been successfully operated at the Hellisheiði Geothermal Power Plant in recent years. The aim by separating CarbFix operations from the core activities of OR are;

• further supporting climate action by providing interested parties in Iceland and abroad the opportunity to reduce their carbon footprint with the CarbFix process.
• preventing growing CarbFix activities from interfering with other research and innovation projects within OR.
• limit and mitigate the financial risks of the basic services and core activities of OR
• protect the intellectual property rights of CarbFix.

The pending PLC will be entirely owned by OR.

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