What Eimur does

Eimur is a non-profit innovation cluster organization founded in 2016 and headquartered in Akureyri, Northern Iceland, with operational offices in Húsavík, Sauðárkrókur, Hvammstangi, and a planned office in North Iceland West. Its mission is to improve resource utilization in Northern Iceland through value creation, sustainability, and innovation, with thematic focus on geothermal energy, industrial waste-heat recovery, circular economy, and regional energy transition. Eimur does not develop proprietary commercial products; instead, it operates as a convening platform that aggregates expertise from municipal governments, state-owned enterprises (Landsvirkjun), local utilities (Norðurorka, Orkuveita Húsavíkur), universities (University of Akureyri), and research institutes (Matís, GEORG), coordinating multi-stakeholder innovation projects, idea competitions, hackathons, and accelerator programs such as Norðanátt, Vaxtarrými, and Startup Storm.

Eimur's portfolio of public-facing outputs and programs includes the RECET Action Bank (a tool with 49 actions for municipal climate and energy transition planning), the Oil Sales Dashboard (interactive visualization of Icelandic fossil fuel sales 2010–2020 built with Efla), the digital Innovation Park (Nýsköpunargarðurinn) platform for entrepreneurship, and the Crowdthermal community greenhouse case study under Horizon 2020. Active projects span the Glatvarmi á Bakka waste-heat recovery initiative with PCC BakkiSilicon, a biomethane facility at Dysnes supported by Orkusjður, hydrogen backup power planning at Akureyri Airport, frost drying with low-temperature heat, and snail farming pilots using residual heat.

Revenue is generated entirely through public institutional funding: government ministries (Ministry of Environment, Energy and Climate; Ministry of Higher Education, Industry and Innovation), municipal associations (SSNE, SSNV), state-owned utilities, and EU grant programmes (notably LIFE for RECET at approximately EUR 1.5M and Horizon 2020 for Crowdthermal). Eimur charges no commercial prices and serves no paying end customers; its "customers" are member municipalities, partner organizations, and project co-funders who receive convening services, feasibility studies, project coordination, and ecosystem development in return.

Name

Eimur

Legal name

Eimur

Website

https://eimur.is

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

1–10 employees

Short description

Eimur is a non-profit innovation cluster based in Akureyri, Northern Iceland, convening municipalities, utilities, universities, and businesses to develop geothermal, waste-heat, and circular-economy projects. It operates programs including the RECET Action Bank, Oil Sales Dashboard, and Norðanátt, funded by government ministries, municipal associations, and EU grants.

Ownership category

akta.pro rank

Product category

Innovation cluster services

NAICS

Business Associations (813910)

akta.pro primary industry

Circularity & End-of-Life Technology R&D (PV Recycling Chemistry, Blade Reuse, Design-for-Recycling) (EUAMAOAK)

Keywords

• Innovation cluster services
• Geothermal resource utilization
• Circular economy consulting
• Energy transition planning
• Regional innovation ecosystem

Headquarters

HQ city

Akureyri

HQ country

Iceland

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Public institutional funding and project grants: Eimur operates as a non-profit cluster organization funded primarily by government ministries (Ministry of Environment, Energy and Climate; Ministry of Higher Education, Industry and Innovation), municipal associations, and state-owned enterprises (Landsvirkjun). Additional revenue comes from EU project grants (LIFE program for RECET, Horizon 2020 for Crowdthermal) and co-funding from municipalities.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Eimur is a non-profit innovation cluster that convenes municipalities, businesses, research institutions, and government agencies to coordinate sustainability, energy transition, and resource utilization projects across Northern Iceland. It organizes innovation programs, idea competitions, hackathons, summer schools, and accelerator programs, and develops practical tools such as the RECET Action Bank for municipal climate planning and the Oil Sales Dashboard for fossil fuel consumption analysis.

Product overview

Eimur is an innovation cluster organization focused on improving resource utilization in Northern Iceland through value creation, sustainability, and innovation. Rather than offering traditional software products, Eimur manages a portfolio of initiatives and programs including the RECET Action Bank (a practical municipal climate planning tool with 49 actions), the Oil Sales Dashboard (data visualization for fossil fuel consumption), the digital Innovation Park platform for startups, and Norðanátt innovation movement. Additional offerings include the Community Greenhouse Húsavík project, annual summer schools, and hackathons. All offerings center on geothermal energy utilization, circular economy, energy transition, and regional innovation.

Differentiator

Problem solved

Functional benefit

Products and services

• Aðgerðabanki RECET (RECET Action Bank) A practical tool designed for Icelandic municipalities to develop action plans for energy transitions and climate measures. Contains 49 curated actions covering energy switching, energy efficiency, changed travel habits, education, and increased sustainability in municipal operations. Aimed at helping municipalities meet their statutory obligation to produce climate action plans.
• Olíumælaborð (Oil Sales Dashboard)

Quantifiable outcome

• The RECET project covers all municipalities in the SSNE region with completed climate action plans (2025-2026).
• +2 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

28 partnerships are on record, tiered core and minor.

• SSNV (Samtök sveitarfélaga á Norðurlandi vestra)coreStrategic or Co-development Partner · 28 August 2024SSNV (Municipalities of Northwest Iceland) joined Eimur as a new partner in August 2024, expanding Eimur's service area to cover all of North Iceland. This formal agreement was signed by all Eimur's existing backers.
• Landsvirkjun (National Power Company of Iceland)coreStrategic or Co-development Partner · 1 January 2016Landsvirkjun is one of Eimur's founding backers and key strategic partners. The state-owned power company provides access to geothermal and hydroelectric resources and collaborates on projects including the Green Industrial Park at Bakka, the Græni Túrinn (Green Tour) tourism package, and the Crowdthermal international project.
• Umhverfis-, orku- og loftslagsráðuneytið (Ministry of Environment, Energy and Climate)coreStrategic or Co-development Partner · 1 January 2016The Ministry of Environment, Energy and Climate is a key institutional backer and funder of Eimur. It provides policy alignment and co-funding for Eimur's projects and programs, and was a signatory of the August 2024 agreement expanding Eimur's service area.
• NorðurorkacoreStrategic or Co-development Partner · 1 January 2016Norðurorka is one of Eimur's founding municipal backers, providing energy infrastructure expertise and local network access in the Eyjafjörður region.
• Orkuveita HúsavíkurcoreStrategic or Co-development Partner · 1 January 2016Orkuveita Húsavíkur is a founding partner providing geothermal infrastructure and local coordination in the Húsavík area. It co-develops the Bakka Green Industrial Park project with Eimur.
• SSNE (Samtök sveitarfélaga og atvinnuþróunar á Norðurlandi eystra)coreStrategic or Co-development Partner · 1 January 2016SSNE (Municipalities and Regional Development Association of Northeast Iceland) is a core founding partner and co-organizer of Norðanátt innovation initiative and RECET project. It represents municipalities across the region.
• PCC BakkiSiliconminorStrategic or Co-development PartnerPCC BakkiSilicon operates a silicon production plant at Bakka near Húsavík. Eimur collaborates with PCC on the Glatvarmi (waste heat) project to assess whether waste heat from the plant's cooling system can be utilized for district heating or other industrial purposes.
• Efla (verkfræðistofa)minorStrategic or Co-development PartnerEfla is an engineering consultancy that collaborates with Eimur on specific technical projects including the fossil fuel sales dashboard (olíumælaborð) and oil usage analysis for municipalities, both part of the RECET project.
• MatísminorStrategic or Co-development PartnerMatís is a Icelandic research institute that has partnered with Eimur on food production and by-product utilization research, including salmon blood processing studies and the geothermal food competition.
• Háskólinn á Akureyri (University of Akureyri)minorStrategic or Co-development PartnerEimur collaborates with the University of Akureyri on student projects, summer internships, and joint initiatives such as the LAN-based education workshop, with a 2023 cooperation on fish farming by-product valorization.
• Íslensk Nýorka (New Energy Iceland)coreStrategic or Co-development PartnerÍslensk Nýorka leads the RECET project in Iceland alongside Eimur. It is also leading the hydrogen backup power project at Akureyri Airport. Eimur and Nýorka jointly implement international sustainability projects.
• VestfjarðastofacoreStrategic or Co-development PartnerVestfjarðastofa (Westfjords Regional Development Agency) is an Icelandic partner in the RECET project alongside Eimur, working with municipalities in the Westfjords region on energy transition.
• European partners in Crowdthermal (10 partners from 7 countries)coreStrategic or Co-development PartnerCrowdthermal was a Horizon 2020 funded project involving 10 organizations from 7 European countries, focused on enabling public participation in geothermal development. Eimur developed the Icelandic community greenhouse case study.
• GEORG (Geothermal Research Cluster)minorStrategic or Co-development PartnerGEORG is a geothermal research cluster in Iceland that collaborated with Eimur on the Crowdthermal project, including co-hosting an international workshop on crowdfunding geothermal projects in September 2022.
• Hraðið (Innovation Center at Húsavík)minorStrategic or Co-development PartnerHraðið is an innovation center in Húsavík that co-organized the public meeting on the community greenhouse with Eimur and SSNE in September 2022.
• Hacking HeklaminorStrategic or Co-development PartnerHacking Hekla is a startup competition organizer that partnered with Eimur and others to host the Hacking Norðurland innovation hackathon, focused on sustainable resource utilization.
• Norðanátt (Innovation initiative - Eimur, SSNE, SSNV, RATA)coreStrategic or Co-development PartnerNorðanátt is an innovation ecosystem initiative led by Eimur covering all of North Iceland. It operates a cycle of innovation programs including idea competitions, business accelerators (Vaxtarrými, Startup Storm), and an investor festival. Funded by Lóa innovation grants and the Ministry of Environment, Energy and Climate.
• Líforkuver ehf.minorStrategic or Co-development PartnerLíforkuver ehf. is developing an organic waste processing facility at Dysnes in Eyjafjörður. Eimur is collaborating on biomethane infrastructure and securing supply for transportation fuel, with Eimur receiving a ISK 20M grant from Orkusjóður for the project.
• RATA (ráðgjafafyrirtæki)minorStrategic or Co-development PartnerRATA is a consulting firm that is part of the Norðanátt innovation initiative alongside Eimur, SSNE, and SSNV.
• PCC BakkiSilicon and Orkuveita HúsavíkurminorStrategic or Co-development PartnerPCC BakkiSilicon and Orkuveita Húsavíkur are co-developers with Eimur of the Glatvarmi á Bakka project, which assessed the feasibility of recovering 8-9 MW of waste heat from the silicon plant's cooling system.
• Nýsköpunarmiðstöð ÍslandsminorStrategic or Co-development PartnerNýsköpunarmiðstöð Íslands (Innovation Center Iceland) partnered with Eimur on idea competitions including the geothermal food production competition and provided mentorship for contestants.
• Íslensk verðbréfminorStrategic or Co-development PartnerÍslensk verðbréf (Icelandic Securities) co-organized idea competitions with Eimur on low-temperature water use and geothermal food production, offering winning ideas support with financing and business planning.
• Matarauður ÍslandsminorStrategic or Co-development PartnerMatarauður Íslands (Icelandic Food Authority) co-organized the geothermal food production idea competition with Eimur, focusing on sustainable food production using geothermal resources.
• Eimur, SSNV, SSNE, RATA (Norðanátt partnership)coreStrategic or Co-development PartnerThe Norðanátt innovation initiative is jointly led by Eimur and the two regional municipal associations (SSNE, SSNV), with RATA as consulting partner. It operates an annual cycle of innovation programs across all of North Iceland.
• NorðurþingcoreStrategic or Co-development PartnerNorðurþing municipality is a key local partner for Eimur, co-developing the Green Industrial Park at Bakka (Árbakki). Norðurþing and Landsvirkjun signed a cooperation agreement in 2022 for the eco-industrial park development.
• Stuttgart Media University (Germany)minorStrategic or Co-development PartnerGerman university that partnered with Eimur on the 2018 and 2019 summer school programs, bringing international students to work on geothermal utilization projects in North Iceland.
• Listaháskóli Íslands (Icelandic School of Design)minorStrategic or Co-development PartnerPartner in Eimur's 2019 summer school program, working alongside Stuttgart Media University on sustainability and design projects in North Iceland.
• Norðurslóðanetið (Arctic Council)minorStrategic or Co-development PartnerEimur co-organized a webinar with the Arctic Council's Nordic network on regional development and food security focusing on geothermal energy's role in the Arctic.

Scale indicators4 records

Recent moves9 records

Expansion highlights6 records

Broad incumbents

• Nýsköpunarmiðstöð Íslands (Innovation Center Iceland): National Icelandic innovation center that partnered with Eimur on geothermal food idea competitions; broader Iceland-wide mandate and significantly larger resources, but overlaps on innovation programming and ecosystem convening.
• Climate-KIC: European knowledge and innovation community backed by EIT, focused on climate innovation; comparable mission (climate innovation, community engagement) but operates at pan-European scale with much deeper resources than a regional cluster.
• EIT InnoEnergy: European sustainable energy innovation partnership co-funded by the EU; matches Eimur's renewable energy innovation focus and EU-funded operating model but at substantially larger scale, broader geography, and with a venture-investment arm Eimur lacks.

Direct peers

• GEORG (Geothermal Research Cluster): Icelandic geothermal research cluster that partnered with Eimur on the Crowdthermal project and co-hosts international workshops; shares the geothermal-innovation mission but emphasizes research output rather than municipal convening.
• Orkídea: Icelandic cluster organization explicitly cited in Eimur's own materials as a comparable model; similarly structured around resource utilization and regional innovation, serving as a sister cluster in another part of Iceland.
• Vestfjarðastofa (Westfjords Regional Development Agency): Icelandic regional development agency that is Eimur's partner in the RECET project; operates a comparable cluster/development agency model with municipalities in the Westfjords region on energy transition and innovation.

Regional players

• Innovasjon Norge: Norwegian state innovation agency that partnered with Eimur's Norðanátt initiative on cross-border Icelandic-Norwegian startup exchange; serves a similar convening-and-innovation role for businesses and municipalities in Norway rather than competing in Iceland.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/eimur

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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

Frequently asked questions about Eimur