Three Companies Join in the Development of a Green Energy Park in Reyðarfjörður

Today, letters of intent have been signed to facilitate the energy transition in Iceland, by developing a green energy park in Reyðarfjörður. Landsvirkjun, Copenhagen Infrastructure Partners (CIP) and the municipality of Fjarðabyggð have been working together to develop and assess the feasibility of a green energy park project and have now been joined by Atmonia, Síldarvinnslan, and Laxar.

The objective is to explore how the production of green e-fuel can facilitate energy transition in the Icelandic sectors of fisheries, shipping and haulage. In addition, production of carbon-neutral fertilizer and the use of oxygen (a by-product) for fish-farming on land will be explored. Furthermore, the benefits of utilizing waste heat from thee-fuel production for heating houses in Reyðarfjörður, one of few communities in Iceland that does not enjoy geothermal district heating, will be assessed. The partnership with Atmonia, Síldarvinnslan, and Laxar is an important milestone in the continued development and assessment of a potential green energy park in Reyðarfjörður. Partnership with potential additional participants is also being discussed.


“Landsvirkjun is continually looking for ways to meet the challenges posed by climate change, both locally and in a larger context. The green energy park in Reyðarfjörður can produce value and knowledge while facilitating energy transition, maximising efficiency in energy use, and reducing emissions. The partnership with CIP, and the commitment of Fjarðabyggð, Atmonia, Síldarvinnslan, and Laxar can help us achieve these goals,” says Rikarður Rikarðsson, Vice President of Business Development and Innovation at Landsvirkjun.


“We are certain that the green energy park in Reyðarfjörður can become a centre for generating value and research that will benefit society in the long run and help combat climate change. It is also extremely gratifying to think that the entire town of Reyðarfjörður may finally get district heating as a result of this work,” says Jón Björn Hákonarson, Mayor of Fjarðabyggð.

Copenhagen Infrastructure Partners (CIP)

„Projects such as the one in Reyðarfjörður, are key for countries and industries to take the next big leap within decarbonization and reach the commitments of the Paris agreement. Our objective with the project in Reyðarfjörður is to advance the green energy transition in Iceland and northern Europe, and increase energy efficiency by using the benefits of the circular economy. It is important for us to work with a strong partner like Landsvirkjun, and collaborate with industry leaders within the sectors of fisheries, shipping, transportation and innovation in Iceland to unlock the opportunities in the use of CO2-free green fuel, green fertilizer and value through the use of by-products from the e-fuel production“, says Felix Pahl, partner in CIP.


“The Green Energy Park is a perfect fit with Atmonia´s mission to reduce the global carbon footprint through technological breakthroughs in ammonia and nitrate production. The Atmonia technologies are economical, zero carbon, and work at ambient pressure and temperature. We are excited about Reyðarfjörður becoming one of the first locations where our technologies start their battle against global warming.” says Guðbjörg Rist, CEO of Atmonia.


“Sustainability and responsibility are among our core values, and we are therefore delighted to participate in the formation and assessment of the Green Energy Park. To be able to capture valuable by-products such as oxygen and use them productively will be an exciting challenge for us and our partners,” says Jens Garðar Helgason, CEO of Laxar.


“Our aim is to maximize the yield from our limited resources while minimizing our environmental impact. We are constantly seeking ways to lower our carbon footprint, for example by transitioning from fossil fuels to sustainable energy sources. This project will make the energy transition more feasible and hopefully lead to further steps towards a greener future,” says Gunnþór Ingvason CEO of Síldarvinnslan.

About the Participants

About Landsvirkjun

Landsvirkjun was founded on 1 July 1965. It is the National Power Company of Iceland and operates 18 power plants in Iceland concentrated on five main areas of operation. Landsvirkjun’s vision is a sustainable world, powered by renewable energy. Landsvirkjun’s role is to maximize the value of the renewable energy resources it has been entrusted with, in a sustainable and efficient manner.

About Fjarðabyggð

Fjarðabyggð is the easternmost municipality of Iceland with about 5,000 inhabitants. It was created by the merger of 14 municipalities which took place in several stages between 1988 and 2018. Reyðarfjörður is one of the 14 municipalities of Fjarðabyggð.

About Copenhagen Infrastructure Partners

Copenhagen Infrastructure Partners P/S (CIP) is a fund management company focused on energy infrastructure including offshore wind, onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity and storage, and other energy assets. CIP manages eight funds, with approximately EUR 16 billion under management from approximately 100 international institutional investors from Europe, Asia, Australia and North America and multi-lateral organizations e.g., EIB.

About Atmonia

Atmonia is an early-stage company, developing a breakthrough electro-catalytic process for generating ammonia from air and water. The Atmonia process does not emit any CO2, but ammonia production is currently one of the major contributors to carbon emissions worldwide. Atmonia is further developing a sustainable process for production of nitrate from ammonia, but nitrate production today is a very high emitter of greenhouse gases.

About Laxar

Laxar is a fish-farming company which produces high-quality salmon for the world’s most demanding customers, both in Europe and in the USA. The company operates a large and technically advanced marine fish farming activity in Reyðarfjördur, East-Iceland. The company strongly emphasizes environmental issues and corporate social responsibility.

About Síldarvinnslan

Síldarvinnslan is one of Iceland‘s largest fishing companies and the largest producer of pelagic fish products in Iceland. Síldarvinnslan is committed to sustainable fishing and the use of technology to minimize the environmental impact of its operations.

For further information, please contact:
Haraldur Hallgrímsson, Head of Business Development at Landsvirkjun,
Phone: +354 660 0875 Email: