What Green by Iceland does

Green by Iceland is a public-private cooperation platform operating under Business Iceland (Islandsstofa), Iceland's official business development and investment promotion organization. Its functional role is to aggregate and promote Icelandic expertise in renewable energy and green solutions to international counterparts, coordinating business delegations at major global climate and energy events including the COP conferences (COP28 in Dubai through COP31 in Antalya, Türkiye in November 2026), the World Geothermal Congress, Hydro conferences, Climate Week NYC, and the Indonesia International Geothermal Convention & Exhibition. The platform maintains an online partner directory of 31+ Icelandic companies across seven categories — geothermal energy (15), carbon management (4), research and academia (4), green industry (3), hydropower and wind (2), policy and regulation (2), and sustainable food and biotech (1) — and runs a visit program that brings international executives and policymakers to Iceland's green facilities.

The underlying technical assets are not built by Green by Iceland itself but rather showcased through partner companies, including Carbfix's CO2 mineralization method (which has permanently mineralized over 100,000 tons of CO2 since 2012 and is developing the Coda Terminal at 3 Mt/year planned capacity), Climeworks' direct air capture plants (the world's two largest operational DAC plants, located in Iceland and powered by renewables), and the broader Icelandic geothermal and hydropower base (which produces 70% of electricity from hydropower, 30% from geothermal, and meets 90% of central heating from geothermal sources). Supporting products include the Blueprints publication series (thought-leadership content), the Green Future Exhibition, the Carbon Neutrality Information Hub, and the partner matching service. There is no unified software product; the offering is relationship-based and event-driven.

The business model is best characterized as professional services and convening rather than product sales. Revenue streams — to the extent they exist — flow from coordinating Icelandic business delegations, hosting symposia such as 'Our Climate Future,' arranging official visits, and publishing the Blueprints series; pricing is quote-based and not publicly disclosed. Customer segments are primarily governments and policymakers, international energy companies and utilities, research institutions, and corporate sustainability buyers. The entity is governed by a board that includes representatives from the Federation of Icelandic Industries, Reykjavík Energy, Landsvirkjun, EFLA Consulting Engineers, and several Icelandic ministries, with the Director (Nótt Thorberg) and a Project Manager (Viktoría Alfreðsdóttir) leading a small operational team.

Name

Green by Iceland

Legal name

Green by Iceland

Website

https://greenbyiceland.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Green by Iceland is a public-private platform under Business Iceland that coordinates Icelandic business delegations at global climate and energy events and connects international governments, utilities, and researchers with 31+ Icelandic renewable-energy and green-solution partners across geothermal, hydropower, carbon management, and adjacent sectors.

Ownership category

akta.pro rank

Product category

Renewable Energy Coordination Services

NAICS

Administration of Environmental Quality Programs (924)

SIC

International Affairs (9721)

akta.pro primary industry

Circular Economy & Resource Efficiency (BPADALAM)

akta.pro secondary industry

Sustainability Training, Consulting & ESG Advisory (Operational Playbooks, Staff Training) (THAAANAL)

Keywords

• Renewable energy solutions
• Geothermal energy expertise
• Carbon capture technology
• Green transition consulting
• Sustainable energy partnerships

Headquarters

HQ city

Reykjavík

HQ country

Iceland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Others

Revenue model

1. Event Coordination and Delegation Services: Coordinates participation of Icelandic business delegations at international climate and energy events including COP conferences, World Geothermal Congress, and other forums. Facilitates connections between Icelandic companies and international partners.
2. Symposia and Conference Hosting: Organizes high-level symposia such as Our Climate Future, bringing together geothermal experts, policymakers, industry leaders, and climate scientists for dialogue on best practices and partnerships.
3. Visit Arrangements: Arranges official visits to explore Iceland's advancements in renewable energy, innovation, and circular economy. Supports partnership development and collaboration opportunities.
4. Blueprints Publication Series: Publishes the Blueprints series exploring how proven solutions, innovative technologies, collaboration and practical experience can help address sustainability and economic challenges.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Green by Iceland is a coordination platform that connects international organizations with Icelandic green solution providers. It aggregates expertise across geothermal energy, hydropower, carbon capture (CCUS), and sustainable solutions, facilitating knowledge exchange, partnerships, and business delegations at major international climate and energy events. The platform does not sell products directly but serves as a gateway to Iceland's renewable energy ecosystem.

Product overview

Green by Iceland is a coordination and information platform—not a traditional product company—that aggregates and promotes Icelandic expertise in renewable energy and green solutions. The platform connects international partners with Icelandic companies through partner matching services, organizes participation in global climate events (COP conferences, Climate Week NYC, geothermal and hydropower exhibitions), publishes the Blueprints series as knowledge resources, hosts the Green Future Exhibition for visitors, and maintains a carbon neutrality information hub. There is no unified software product or platform-plus-modules architecture; rather, the offering consists of relationship-building services, information resources, and event coordination.

Differentiator

Problem solved

Functional benefit

Products and services

• Blueprints A publication series exploring how proven solutions, innovative technologies, collaboration and practical experience can help address sustainability and economic challenges.
• Partner Matching Service A service connecting international partners with Icelandic green solution providers across categories including geothermal energy (15 companies), carbon management (4), research and academia (4), green industry (3), hydropower and wind (2), policy and regulation (2), and sustainable food and biotech (1).
• Event Coordination and Delegation Services Coordination of Icelandic business delegations at international climate and energy events including COP conferences, Climate Week NYC, Arctic Circle Assembly, Hydro, World Geothermal Congress, and geothermal-specific events.
• Symposia and Conference Hosting Organizes high-level symposia such as Our Climate Future, bringing together geothermal experts, policymakers, industry leaders, and climate scientists for dialogue on best practices and partnerships.
• Official Visit Program Arranges official visits to Iceland's green facilities for corporate executives, environmental advocates, and sustainability enthusiasts to explore Iceland's advancements in renewable energy, innovation, and circular economy.

Quantifiable outcome

• 85% of Iceland's total primary energy supply from domestically produced renewable sources
• +5 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

16 partnerships are on record, tiered core and minor.

• Geothermal Energy Partners (15 companies)coreStrategic or Co-development Partner15 Icelandic companies specializing in geothermal energy solutions, including exploration, drilling, plant design, and operations. Partners include ON Power, Reykjavík Energy, Landsvirkjun, HS Orka, Iceland Drilling, and others offering comprehensive geothermal expertise.
• CarbfixcoreStrategic or Co-development PartnerPioneer in CO2 storage through mineralization in basaltic rock formations. Since 2012, has safely mineralized over 100,000 tons of CO2. Developing Coda Terminal with planned capacity of 3 Mt/year. Backed by 100+ peer-reviewed scientific papers.
• ClimeworkscoreStrategic or Co-development PartnerGlobal leader in carbon removal, operating world's two largest direct air capture plants in Iceland exclusively on renewable energy. Collaborates with Carbfix for permanent underground storage of captured CO2.
• Landsvirkjun (National Power Company of Iceland)coreStrategic or Co-development PartnerPublicly owned power company developing, building and operating hydroelectric, geothermal and on-shore wind power stations. Owns and operates 18+ stations in Iceland with ~2,150 MW installed capacity. Provides advisory and co-development partnership solutions.
• Reykjavík EnergycoreStrategic or Co-development PartnerPower and utility company operating through four subsidiaries (Veitur, ON Power, Reykjavík Fibre Network, Carbfix). Jointly owned by three municipalities. Provides essential energy services to homes and businesses while advancing carbon fixation solutions.
• ON PowercoreStrategic or Co-development PartnerIceland's largest geothermal energy producer and second-largest electricity producer. Operates Europe's largest geothermal power plant (Hellisheiðarvirkjun) and runs the Geothermal Park - a 103-hectare circular economy industrial park.
• Arctic Green EnergycoreStrategic or Co-development PartnerLeading exporter of Icelandic success in geothermal and renewable energies. Flagship portfolio company Sinopec Green Energy is world's largest geothermal heating and cooling provider. Serves 3+ million customers across 70+ cities in Asia, Europe, and Middle East.
• Reykjavík GeothermalcoreStrategic or Co-development PartnerLeading geothermal energy developer specializing in full geothermal value chain. Founded 2008 with experience spanning five continents and over 50 countries. Enables communities to strengthen energy security, reduce emissions, and achieve lasting economic benefits.
• Verkís Consulting EngineerscoreStrategic or Co-development PartnerIcelandic engineering consulting firm with over 350 employees. Decades of experience providing services in geothermal and hydro power plants, infrastructure, commercial buildings and industrial facilities. Provides services from conceptual design through commissioning.
• EFLA Consulting EngineerscoreStrategic or Co-development PartnerGlobal engineering and consulting firm based in Iceland with over 40 years of experience. Offers lifecycle analysis, carbon footprint calculations, resource park optimization, and infrastructure design for renewable energy systems. Offices in Norway, Sweden, Denmark, Poland, Scotland, France.
• Carbon Management Partners (4 companies)coreStrategic or Co-development Partner4 Icelandic companies specializing in carbon management solutions including CCUS technologies, carbon recycling, and emission reduction strategies for industrial applications.
• Iceland DrillingcoreStrategic or Co-development PartnerGlobal leader in high temperature geothermal well construction with more than eighty years of experience. Operates internationally across Europe, Asia, Africa, Central America, Oceania, and Caribbean. Known for safe, predictable, high integrity operations in challenging geological environments.
• ORKIS Energy Cluster IcelandcoreStrategic or Co-development PartnerPlatform bringing together Icelandic expertise, industry networks, and commercial innovation. Merged Iceland Renewable Energy Cluster, GEORG geothermal research cluster, and Icelandic New Energy under one organization. Hosts Iceland Geothermal Conference triennially.
• GRÓ Geothermal Training ProgrammeminorStrategic or Co-development PartnerPostgraduate training programme assisting developing countries in capacity strengthening within geothermal exploration and development. Established 1978, funded by Government of Iceland under UNESCO auspices. Trains specialists to develop and utilize their own geothermal resources.
• Business IcelandcoreStrategic or Co-development PartnerGreen by Iceland works closely with Business Iceland towards a shared vision to inspire and create global impact in climate action. Collaborates on promoting export of Icelandic green solutions, driving knowledge exchange, and fostering international collaboration.
• Icelandic Ministry of Environment, Energy and ClimatecoreStrategic or Co-development PartnerCoordinates participation of Icelandic business delegations at international climate events in close cooperation with the ministry. Ministry develops and oversees Icelandic government policy for environmental affairs, energy, and climate change.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Enterprise Ireland: Enterprise Ireland is Ireland's government agency responsible for the development and international growth of Irish enterprises, with a strong cleantech and sustainability export focus. It operates business delegation programs and partnership services structurally similar to Green by Iceland's coordination role.
• Innovation Norway: Innovation Norway is Norway's state-owned business development agency, running international delegations, partner-matching, and sector-specific export promotion programs that closely mirror Green by Iceland's mandate. Both organizations aggregate national cleantech and renewable energy expertise into an internationally marketed country platform.
• Business Finland: Business Finland is Finland's national innovation funding and trade promotion agency, organizing business delegations, facilitating international partnerships, and showcasing national expertise in cleantech, energy, and sustainability. Like Green by Iceland, it operates as a public-private coordination platform for export promotion.
• Switzerland Global Enterprise (S-GE): Switzerland Global Enterprise is Switzerland's official trade and investment promotion agency, providing international partnership facilitation, market entry support, and event-driven export promotion. Its mandate and operating model — connecting Swiss companies with international buyers through delegation and matchmaking — closely parallel Green by Iceland's role.
• Germany Trade & Invest (GTAI): Germany Trade & Invest is the German government's economic development agency, promoting German green-tech exports, supporting business delegations, and facilitating international investor and partner introductions — a role that closely mirrors Green by Iceland's mandate as a national cleantech-export platform.
• Danish Cleantech Hub: Danish Cleantech Hub is a public-private platform promoting Danish cleantech companies internationally, with a strong focus on matchmaking, delegation visits, and event-driven export promotion. It is structurally one of the closest analogues to Green by Iceland in operating model and target stakeholder community.

Regional players

• Nordic Innovation: Nordic Innovation is an inter-Nordic institution under the Nordic Council of Ministers that funds and coordinates cross-border innovation projects, including in sustainable energy and cleantech. It shares the same platform/coordination role as Green by Iceland but at the regional Nordic level rather than the country level.

Broad incumbents

• Global CCS Institute: The Global CCS Institute is an international think tank that promotes the deployment of carbon capture and storage technologies, convenes CCS stakeholders, and publishes research. It overlaps directly with Green by Iceland's Carbfix/Climeworks-driven carbon management ecosystem and serves a similar convening function in the CCS space.
• IRENA (International Renewable Energy Agency): IRENA is the intergovernmental organization that supports countries in their energy transition, convenes international renewable energy events, and facilitates knowledge exchange. It operates at a broader international level than Green by Iceland but addresses overlapping stakeholder communities and convenes many of the same global forums.
• Clean Energy Council (Australia): The Clean Energy Council is Australia's peak industry body for renewable energy, supporting members across solar, wind, storage, and hydrogen. While broader in scope than Green by Iceland and not country-specific in the same way, it shares the role of representing and promoting a national renewable energy ecosystem to international partners.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/greenbyiceland
• LinkedInlinkedin.com/company/green-by-iceland

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 Green by Iceland