Carbfix
Carbfix is an Icelandic climate technology company that mineralizes captured CO2 into stone within basalt formations underground, serving hard-to-abate industries and DAC/BECCS operators through project-based consultancy and planned large-scale terminal storage services such as the Coda Terminal.
- Company typePrivate
- Founded2006
- HeadquartersReykjavík, Iceland
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Carbfix does
Carbfix is an Icelandic climate technology company that has developed a proprietary process to permanently mineralize CO2 underground by dissolving it in water and injecting it into basalt rock formations, where it solidifies into stable carbonate rock within approximately two years. Founded in 2006 and headquartered in Reykjavík, the company has operated the world's first commercial CO2 mineral storage site at ON Power's Hellisheiði Geothermal Plant since 2014, with current daily injection rates above 29.3 tonnes and cumulative storage exceeding 100,000 tonnes. Its IP portfolio comprises eight patent families covering core mineralization processes, with key patents filed in more than 30 countries.
The company sells two core offerings: Point Source Mineralisation for CO2 captured near suitable geology, and Terminal Mineralisation for large-scale reception hubs, exemplified by the planned Coda Terminal in Iceland, which targets up to 3 million tonnes of annual storage capacity by 2031 and is supported by an approximately $117 million EU Innovation Fund grant. Service revenue is generated through project-based engagements covering geological screening studies, pre-feasibility and feasibility analyses, pilot injection, construction and commissioning, and full-scale commercial operations. Carbfix targets hard-to-abate industrial sectors (iron and steel, cement, chemicals, aluminum) and partners on Direct Air Capture (DAC) and Bioenergy with Carbon Capture and Storage (BECCS) projects, executing an enterprise field-sales motion with tailored, quote-based contracts.
Carbfix distributes its technology through direct enterprise sales and cross-border value-chain partnerships, including a shipping arrangement with Dan-Unity to transport CO2 to the Coda Terminal. The company supplements its private commercial revenue with substantial non-dilutive public funding, including a €3.9 million EU Innovation Fund grant for the Silfurberg-project at Hellisheiði alongside ON, and has received industry recognition such as WIPO Global Awards 2025 finalist status. Leadership is anchored by CEO Edda Aradottir and founder Sigurður Gíslason, with operations concentrated in Iceland but with a stated ambition to scale globally.
Carbfix firmographics
Firmographics- Name
- Carbfix
- Legal name
- Carbfix hf.
- Website
- https://carbfix.com
- Company type
- Private
- Founded year
- 2006
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Carbfix is an Icelandic climate technology company that mineralizes captured CO2 into stone within basalt formations underground, serving hard-to-abate industries and DAC/BECCS operators through project-based consultancy and planned large-scale terminal storage services such as the Coda Terminal.
- Ownership category
- akta.pro rank
Carbfix industry classification
Industry- Product category
- Carbon Capture and Storage Services
- SIC
- Pipe Lines (No Natural Gas) (4610)
- akta.pro primary industry
- Biomass Carbon Removal & Storage (BECCS/Bioenergy with CO₂ Capture) (EUABAFAB)
- akta.pro secondary industries
- CO2 Storage & Injection Terminals (CCS Hubs) (TLAGAKAG), CO2 Injection / Storage-Field Pipelines (To Wells & Reservoirs) (TLAGAFAD)
Keywords
Where Carbfix is headquartered
LocationHeadquarters
- HQ city
- Reykjavík
- HQ country
- Iceland
- HQ region
- Europe
Offices1 record
Markets served
Carbfix business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Infrastructure
Revenue model
- Project-based Consultancy Services: Carbfix provides geological screening studies, pre-feasibility studies, feasibility studies, pilot injection, construction and commissioning, and full-scale commercial operations for CO2 mineral storage projects. Revenue is generated through consultancy services and project implementation.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
Carbfix product offering
Product offeringCore offering
Carbfix provides CO2 mineral storage services that permanently turn captured CO2 into solid carbonate rock within two years by dissolving it in water and injecting it into underground basalt rock formations. The company delivers end-to-end project services including geological screening studies, pre-feasibility and feasibility studies, pilot injection, construction and commissioning, and full-scale commercial operations, targeting hard-to-abate industries, Direct Air Capture (DAC), and BECCS projects.
Product overview
Carbfix is a climate innovation company that has developed a proprietary technology to turn CO2 into solid carbonate rock within two years by dissolving it in water and injecting it into underground basalt rock formations. The company offers two core product lines: Point Source Mineralisation for CO2 emissions from industrial sources or DAC systems near suitable rock formations, and Terminal Mineralisation for large-scale CO2 reception and permanent storage terminals. Carbfix provides end-to-end services including geological screening studies, feasibility studies, pilot injection, construction and commissioning, and full-scale commercial operations. The company targets hard-to-abate industries (iron and steel, cement, chemicals, aluminum) and partners on Direct Air Capture (DAC) and Bioenergy with CCS (BECCS) projects.
Differentiator
Problem solved
Functional benefit
Brands
- Coda Terminal: The world's first CO2 reception and mineral storage terminal, designed to store up to 3 million tonnes of CO2 annually by 2031.
Products and services
- Point Source Mineralisation
- Terminal Mineralisation Large-scale CO2 reception and mineral storage terminals built in locations with favorable basalt rock formations, capturing economies of scale. Captured CO2 is transported to the terminal and permanently stored underground through mineralization, with Carbfix providing consultancy and tailored feasibility studies for each project.
- Coda Terminal The world's first CO2 reception and mineral storage terminal in Iceland, designed to store up to 3 million tonnes of CO2 annually by 2031, utilizing Carbfix's proprietary mineralization technology and cross-border shipping operations.
- Geological Screening Study Initial evaluation of storage sites and geological formations to assess suitability for permanent CO2 mineral storage, used as the first step in project engagement.
- Pre-Feasibility and Feasibility Studies Comprehensive pre-feasibility and feasibility studies that assess the technical and economic viability of CO2 mineral storage projects, mitigating risks and increasing value for each project.
- Pilot Injection Small-scale pilot injection testing that validates CO2 mineral storage at proposed sites before full commercial deployment.
- Construction and Commissioning Full-scale commercial operation services including facility construction, commissioning, and ongoing commercial operations for CO2 mineral storage projects.
Companies that use Carbfix
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles3 records
Carbfix technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Carbfix partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Dan-UnitycoreDan-Unity provides shipping operations for the cross-border CO2 value chain. CO2 is transported via shipping to the Coda Terminal in Iceland for mineral storage.
- ON (Orka Náttúrunnar)coreON operates geothermal power plants in Iceland. Carbfix and ON collaborated on the Silfurberg-project at the Hellisheiði Geothermal Plant to capture and store CO2 and hydrogen sulfide emissions. The project received €3.9 million EU Innovation Fund grant.
Scale indicators8 records
Recent moves5 records
Expansion highlights5 records
Carbfix competitors and assessment
Company assessmentDirect peers
- Climeworks: Climeworks is a leading direct air capture (DAC) company that, like Carbfix, is building permanent carbon removal infrastructure. Carbfix partners with DAC operators as the mineral storage backend, making Climeworks a complementary counterparty and a peer in the broader carbon removal value chain.
- Mineral Carbonation International (MCi): MCi is an Australian company pursuing mineral carbonation of CO2 using mine tailings. It is the closest direct competitor to Carbfix in the CO2 mineralization space, applying a related but distinct technical pathway to permanent mineral sequestration.
- Heirloom Carbon: Heirloom operates DAC technology with mineral-based storage pathways, overlapping with Carbfix's mineralization storage offering. Both companies serve the voluntary carbon removal market with permanent storage solutions.
- CarbonCapture Inc. CarbonCapture Inc. develops direct air capture technology with geological and mineral storage pathways. It competes with Carbfix for permanent atmospheric CO2 removal contracts from corporate buyers.
Broad incumbents
- 1PointFive (Occidental): 1PointFive is building Stratos, one of the world's largest DAC facilities, backed by Occidental. As a scaled industrial CCS/DAC player, it competes for the same customer base of voluntary carbon buyers and corporate offtake partners as Carbfix.
- Carbon Engineering (now part of Occidental): Carbon Engineering pioneered large-scale DAC technology and was acquired by Occidental to form 1PointFive. It is a broad incumbent in the carbon removal space that competes for corporate offtake agreements and large-scale project financing.
Emerging players
- Charm Industrial: Charm Industrial converts biomass into a bio-oil that is injected underground for permanent carbon storage. It competes with Carbfix in the durable carbon removal market, offering an alternative permanent storage pathway.
- CarbonCure Technologies: CarbonCure injects captured CO2 into concrete during production for permanent mineralization within building materials. While using CO2 rather than storing it underground, it serves the same cement and construction decarbonization market Carbfix targets.
- CarbonOrO: CarbonOrO is a UK-based company developing direct air capture with integrated mineralization using waste materials. It pursues a related approach to permanent CO2 removal through mineralization technology.
Regional players
- Iceland GeoSurvey (ÍSOR): ÍSOR is Iceland's leading geoscience consultancy with deep expertise in Icelandic basalt geology. As a domestic supplier of geological screening and subsurface data, it is an ecosystem enabler and potential partner or competitor for site characterization services.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Carbfix social profiles
Digital presenceCarbfix financial estimates
Financial estimateRevenue estimate
Valuation estimate
Carbfix leadership team
Management profileNumber of profiles
Profiles2 records
Carbfix funding detail
Funding detailFunding overview
Funding rounds4 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Carbfix M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Carbfix
What does Carbfix do?
Carbfix provides CO2 mineral storage services that permanently turn captured CO2 into solid carbonate rock within two years by dissolving it in water and injecting it into underground basalt rock formations. The company delivers end-to-end project services including geological screening studies, pre-feasibility and feasibility studies, pilot injection, construction and commissioning, and full-scale commercial operations, targeting hard-to-abate industries, Direct Air Capture (DAC), and BECCS projects.
Is Carbfix a public or private company?
Carbfix is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Carbfix founded?
Carbfix was founded in 2006. It employs 51 to 100 people.
Where is Carbfix based?
Carbfix is headquartered in Reykjavík, Iceland, in the Europe region.
How does Carbfix make money?
One revenue line is on record: project-based Consultancy Services.
Who are Carbfix's main competitors?
Direct peers on record are Climeworks, Mineral Carbonation International (MCi), Heirloom Carbon and CarbonCapture Inc.. Broad incumbents are 1PointFive (Occidental) and Carbon Engineering (now part of Occidental). Emerging players are Charm Industrial, CarbonCure Technologies and CarbonOrO. Iceland GeoSurvey (ÍSOR) is listed as a regional player.
Does Carbfix have an API?
No public API is recorded for Carbfix.
What industry is Carbfix in?
Carbfix's product category is Carbon Capture and Storage Services. Its primary akta.pro industry code is EUABAFAB, Biomass Carbon Removal & Storage (BECCS/Bioenergy with CO₂ Capture), with a secondary code of TLAGAKAG, CO2 Storage & Injection Terminals (CCS Hubs). Its SIC code is 4610.