What Verkís Consulting Engineers does

Verkís Consulting Engineers (Verkís verkfræðistofa, legal entity Verkís hf) is an Icelandic multidisciplinary engineering consultancy founded in 1932 and headquartered in Reykjavík. The firm provides advisory, design, project management, and technical supervision services across six core areas: buildings, energy, industry, transport and environment, and infrastructure. Core technical capabilities include BIM (Building Information Modeling), life cycle analysis (LCA), environmental impact assessments, and sustainability certification advisory (Nordic Swan, BREEAM, EPD). Energy services span geothermal, hydropower, wind, and energy transition — including shore-to-ship power, EV charging infrastructure (240-480 kW), and maritime fuel alternatives. Verkís operates from 11 office locations across Iceland and executes international projects in Georgia, Ukraine, India, Poland, and Hungary.

Verkís leads two major EU-funded maritime energy transition consortia: GAMMA (2.5 billion ISK over 5 years from January 2024, 16 partners across 11 countries) developing green ammonia and biomethanol fuels for shipping, and WHISPER (1.4 billion ISK over 4 years from February 2023, 14 partners across 6 countries) developing renewable energy solutions for maritime transport. The firm is structured as a public limited company (hf) under Icelandic law with no disclosed external private equity or venture capital ownership and no parent company. Revenue is not publicly disclosed. The customer base is concentrated in Icelandic government, municipal, and energy utility clients, supplemented by international project engagements.

The business model is B2B professional services delivered through direct client engagement — projects are typically secured through competitive public tender or direct private negotiation. Pricing is project-based and not publicly disclosed. The firm has published annual sustainability and performance reports aligned to GRI standards and Nasdaq UFS guidelines since 2015. Strategic emphasis is on energy transition, decarbonization consulting, and sustainability advisory, positioning Verkís as Iceland's national engineering champion with growing European presence.

Name

Verkís Consulting Engineers

Legal name

Verkís hf

Website

https://verkis.is

Company type

Private

Founded year

1932

Operating status

Operating

Headcount range

101–250 employees

Short description

Verkís Consulting Engineers is an Icelandic multidisciplinary engineering consultancy founded in 1932, serving government, energy, industrial, and real estate clients with advisory and design services across buildings, energy (geothermal, hydropower), industry, transport, and environment — operating from 11 Iceland offices plus international projects.

Ownership category

akta.pro rank

Product category

Engineering Consulting Services

NAICS

Engineering Services (54133), Engineering Services (541330), Environmental Consulting Services (54162), Management, Scientific, and Technical Consulting Services (5416), Architectural, Engineering, and Related Services (5413)

SIC

Services-Engineering Services (8711), Services-Engineering, Accounting, Research, Management (8700)

akta.pro primary industry

Energy Systems & Power Engineering Consulting (BPAHAIAG)

akta.pro secondary industries

Construction Management & General Contracting (EPCM, Scheduling, QA/QC, HSE) (EUAMAFAJ), Asset Management & Owner’s Engineering (Lifecycle Strategy, Budgeting, Technical Due Diligence) (EUAMAGAJ), Permitting, Siting & Environmental Impact (EIA/NEPA) Advisory (EUAMANAB), Systems Engineering & Technical Program Management (BPAHAIAI)

Keywords

• Engineering consulting services
• Geothermal energy consulting
• Hydropower engineering
• Building sustainability certification
• Environmental impact assessment

Headquarters

HQ city

Reykjavík

HQ country

Iceland

HQ region

Europe

Offices12 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure

Revenue model

1. Engineering Consulting Services: Professional engineering consulting services across multiple disciplines including buildings, energy, transportation, environment, and industry. Services include design, advisory, project management, and technical supervision.
2. Environmental and Sustainability Services: Sustainability advisory, life cycle assessments, environmental certifications (Swan, BREEAM), and environmental impact assessments.
3. Innovation Project Management: Management and leadership of large-scale EU-funded research and innovation projects in energy transition.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Verkís provides multidisciplinary engineering consulting and design services across buildings, energy (geothermal, hydropower, wind), industry, transportation, environment, and infrastructure. The firm delivers advisory, project management, technical supervision, and sustainability services including life cycle analysis, environmental certifications (Swan, BREEAM), BIM modeling, port electrification, and EV charging infrastructure design.

Product overview

Verkís Consulting Engineers (Verkís verkfræðistofa) is a diversified Icelandic engineering consulting firm offering a broad portfolio of advisory and engineering services. The firm provides services across six core areas: buildings (including fire safety, acoustics, lighting, interior design, and sustainability), energy (including geothermal, hydropower, wind, and energy transition), industry (including port electrification and land connections for vessels), transport and environment (including environmental impact assessment, life cycle analysis, blue-green stormwater solutions, and pollution research), and infrastructure. The portfolio includes specialized certification advisory services (Swan, BREEAM, EPD), BIM services, and sustainability reporting. Major infrastructure projects include hydroelectric stations (e.g., Akhalkalaki HPP) and urban developments (e.g., Blikastaðir). The firm also operates on-site cafeteria services at its offices. Sustainability and ESG performance reporting is a recurring published output (Sjálfbærni- og árangursskýrsla). Verkís has led EU-funded energy transition projects including GAMMA and WHISPER, and provides services in green ammonia, methanol, hydrogen, and shore-to-ship power connection systems.

Differentiator

Problem solved

Functional benefit

Products and services

• Advisory and Comprehensive Engineering Consulting First-class consulting across all areas of engineering and related disciplines, spanning buildings, energy, industry, transport, environment, and infrastructure, supported by decades of expert experience across dozens of service categories. For government, industrial, real estate, and energy clients.
• Energy Transition Services Decades of experience in geothermal and hydropower applied to energy transition projects, including electric fuels, R&D, port electrification, EV charging stations, power transmission, wind energy, energy savings, and EU-funded initiatives like GAMMA and WHISPER.
• Life Cycle Analysis (LCA) End-to-end consulting and services for life cycle analysis, managing the entire process to ensure simplicity, efficiency, and compliance with relevant standards, advising on eco-friendly design and construction options.
• Swan Certification Advisory Expert advisory services supporting sustainable building design through the Swan (Nordic Swan) environmental certification process for buildings.
• BREEAM Certification Advisory Expert advisory services for BREEAM building certification, including sustainability consulting for master planning such as the Blikastaðir development.
• BIM (Building Information Modeling) Services Building Information Modeling services for engineering projects, supporting the creation and management of digital representations of physical and functional characteristics of buildings and infrastructure.
• Shore-to-Ship Power Connection Design Engineering design for shore power / land connection systems enabling vessels to connect to electrical power while docked, reducing port emissions from idling ships.
• EV Charging Station Design Electrical design for high-capacity EV charging stations with power outputs from 240 kW to 480 kW. Includes power connection design with utilities such as Norðurorka and Veitur.
• Environmental Impact Assessment (EIA) Environmental impact assessment services for projects requiring regulatory environmental review, including pollution research and monitoring of soil contamination.
• Environmental Product Declaration (EPD) Verified environmental performance data services for products, provided in accordance with relevant standards.
• GAMMA EU Innovation Project Management Management and leadership of the EU-funded GAMMA innovation project developing and testing fuel solutions for maritime transport using green ammonia and biomethanol. Project budget 2.5 billion ISK over 5 years, consortium of 16 companies and research institutions from 11 European countries.
• WHISPER EU Innovation Project Management Management and leadership of the EU-funded WHISPER innovation project developing renewable energy solutions for maritime transport, including horizontal wind turbines, wing sails, and solar panels. Project budget 1.4 billion ISK over 4 years, consortium of 14 companies from 6 European countries.
• Akhalkalaki Hydroelectric Power Station Feasibility Study Feasibility study and tender documents for the Akhalkalaki hydroelectric power station in Georgia, with 9.1 MW capacity and 50 GWh annual generation, utilizing the Paravani and Korkhi waterfalls. Prepared for Georgian Energy Development.

Quantifiable outcome

• Reduced port emissions through shore power connections for cruise ships
• +2 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eight partnerships are on record, tiered core, strategic and minor.

• GAMMA Project ConsortiumcoreStrategic or Co-development Partner · 1 January 2024EU-funded 2.5 billion ISK project over 5 years (January 2024) developing and testing fuel solutions for maritime transport using green ammonia and biomethanol. Verkís leads the consortium of 16 companies and research institutions from 11 European countries. Partners include ANT Topic (Italy), Fraunhofer (Germany), Aurelia (Netherlands), Ballard (Denmark), Sea Green Engineering (Italy), Energy Cluster Denmark, SINTEF (Norway), Solbian (Italy), Amethyste (France), Elkon Elektrik (Turkey), Politecnico di Milano (Italy), ARM Engineering (France), RINA (Germany), Amnis Pura (Portugal), and Dotcom (Italy).
• WHISPER Project ConsortiumcoreStrategic or Co-development Partner · 1 February 2023EU-funded 1.4 billion ISK four-year project developing renewable energy solutions for maritime transport. Verkís leads the consortium of 14 companies from 6 European countries. Partners include Sidewind (horizontal wind turbines), AYRO (wing sails), Solbian (solar panels), CANOE, ANT Topic, Dotcom, Samskip/Nav-Tech, Stirling Design International, BBA//Fjeldco, Lloyd's Register, Athygli, and Inspiralia GmbH.
• SidewindstrategicTechnology or IntegrationCollaboration on horizontal wind turbine technology for maritime applications. Sidewind designed horizontal wind turbines, and both companies participate in the WHISPER project for energy transition in shipping.
• Orka náttúrunnar (ON)coreStrategic or Co-development PartnerVerkís provided electrical design for three new EV charging stations installed by ON at Glerártorg (Akureyri), Digranesgötu (Borgarnes), and Perluna (Öskjuhlíð). Also collaborated with Norðurorka and Veitur on power connection design.
• Techon (India)strategicStrategic or Co-development PartnerIndian consulting firm Techon, together with Verkís and ISOR, signed a letter of intent for cooperation on geothermal utilization in India, specifically for the Puga region project.
• ISOR (Icelandic Geosurvey)strategicStrategic or Co-development PartnerJoint cooperation with ISOR on geothermal projects internationally, including the Puga region project in India.
• CarbfixstrategicStrategic or Co-development PartnerCollaboration related to carbon sequestration at Nesjavellir geothermal power plant, where CO2 and H2S injection began from the new Carbfix pilot facility.
• Arkís ArchitectsminorImplementation/ SI/ Consulting PartnerArchitecture firm responsible for office space design for Verkís Akureyri location, with outdoor and indoor architects for the overall building.

Scale indicators7 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Mannvit: Icelandic engineering consultancy directly competing with Verkís across energy, infrastructure, environment, and industry, with comparable geothermal and hydropower expertise and similar domestic/government client base.

Broad incumbents

• Arup: Global engineering and design firm with comparable sustainability, energy, and buildings advisory services, including LCA and certification-adjacent expertise.
• AtkinsRéalis: Global engineering services firm with nuclear, renewables, infrastructure, and environmental consulting capabilities — comparable on the energy and infrastructure project advisory side.
• Mott MacDonald: International engineering, management, and development consultancy with overlapping energy, transport, environment, and infrastructure advisory practices.
• COWI: Danish-headquartered engineering consultancy with significant overlap in infrastructure, energy, environment, and sustainability advisory; comparable in multidisciplinary project-based delivery.
• AFRY: Swedish engineering and design consultancy active in energy, infrastructure, industry, and sustainability — directly comparable service mix to Verkís at significantly larger scale.
• Sweco: Large Nordic engineering consultancy with overlapping services in energy, infrastructure, environment, and sustainability advisory; far broader European footprint and similar multidisciplinary project delivery model.
• Ramboll: Global engineering, architecture, and consultancy firm with strong Nordic roots, offering overlapping services in energy transition, buildings, environment, and transport infrastructure.
• WSP: Global professional services consultancy with overlapping capabilities in transportation, environment, buildings, and energy transition advisory.

Others

• ÍSOR (Icelandic Geosurvey): Icelandic geoscience survey already partnered with Verkís on geothermal projects; an adjacent ecosystem participant rather than a direct competitor, but closely comparable in geothermal technical expertise.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/VerkisIceland
• Facebookfacebook.com/VerkisVerkfraedistofa

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Verkís Consulting Engineers