What Yggdrasill Carbon does

Yggdrasill Carbon ehf. (YGG) is a privately held Icelandic company founded in 2020 and headquartered in Egilsstaðir, with additional offices in Reykjavík and Borgarnes. The company develops, implements, and certifies afforestation-based carbon sequestration projects on Icelandic land leased or partnered from private landowners, with 12-13 active projects spanning East and West Iceland and a cumulative 2,464,286 trees planted since the first planting year in 2022. Species include spruce, pine, larch, birch, and aspen, with monitoring obligations extending over a 50-year sequestration horizon.

YGG's underlying technology stack combines drone-based digital twin mapping (delivered via partner Svarma) for baseline validation with Svarma's Datact database for ongoing project data management, supporting transparent stakeholder access. Projects are certified under multiple frameworks: Skógarkolefni (the Icelandic Forest Carbon standard administered by Lands og Skógar / IFS), Gold Standard (internationally, with Mýrar certified via TUV NORD in 2024 — the first such certification for an Icelandic project), and iCert/Enviance for verification. YGG is also developing adjacent wetland restoration (VERRA) and soil carbon product lines.

YGG monetizes carbon credits generated from these projects, selling both pending credits (pre-certification, pre-sequestration) and certified units to corporate and organizational buyers seeking emission offsets. Credits are registered in the International Carbon Registry with unique serial numbers. Named buyers include Íslandsbanki, Deloitte, Hagar (1,250 credits covering Scope 1+2 emissions in 2022), and Norðursigling. The company sells directly via a sales-led motion, with quote-based pricing that is not publicly disclosed. Revenue figures are not publicly reported; the company is operationally lean at approximately five full-time employees (up to 20 contractors seasonally), supplemented by Rannís grant funding and a deep partnership network spanning certification bodies, the Icelandic Forest Service, and Svarma.

Name

Yggdrasill Carbon

Legal name

Yggdrasill Carbon ehf.

Website

https://yggcarbon.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Yggdrasill Carbon (YGG) is a privately held Icelandic company, founded in 2020, that develops certified afforestation-based carbon sequestration projects on partnered Icelandic land and sells the resulting carbon credits to corporate and municipal buyers seeking verified emission offsets.

Ownership category

akta.pro rank

Product category

Voluntary Carbon Credits

NAICS

Timber Tract Operations (11311), Support Activities for Forestry (1153)

SIC

Forestry (800)

akta.pro primary industry

Agroforestry & Perennial Cropping Systems (EUABABAD)

akta.pro secondary industries

Carbon Sequestration & Forest Carbon Credits (AFAMAMAA), Timberland Carbon & Natural Capital Project Development (Offsets/REDD+) (AFAMAKAH), Regenerative Agriculture & Soil Organic Carbon (SOC) (EUABABAE), Soil & Biomass Carbon Measurement (Soil Sampling, Forest Inventory, Blue Carbon) (EUABACAH)

Keywords

• Voluntary carbon credits
• Afforestation project development
• Forest carbon sequestration
• Carbon offset certification
• Carbon credit verification

Headquarters

HQ city

Egilsstaðir

HQ country

Iceland

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Certified Carbon Credits: YGG generates revenue by selling certified carbon credits (carbon units) from afforestation projects. One certified carbon unit is created when one tonne of CO2 equivalent is removed from the atmosphere through verified carbon sequestration. Credits are sold to companies and organizations seeking to offset their emissions.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Yggdrasill Carbon (YGG) develops and operates afforestation projects across Iceland, planting native and boreal tree species (spruce, pine, larch, birch, aspen) on partnered landowner sites, and generates certified carbon credits representing one tonne of CO2 equivalent sequestered over a 50-year measurement horizon. The company also runs complementary wetland restoration and soil carbon projects. Carbon credits are certified under the Icelandic Skógarkolefni standard, the international Gold Standard, and VERRA, and tracked in the International Carbon Registry.

Product overview

Yggdrasill Carbon (YGG) offers certified carbon credits through afforestation projects in Icelandic nature. Their core product is verified carbon units representing CO₂ sequestration from forestry projects, complemented by wetland restoration and soil carbon projects. The company operates 13 active afforestation projects across Iceland, planting approximately 2.5 million trees (spruce, pine, larch, birch, aspen) that will sequester carbon over 50 years. Carbon credits are tracked in the International Carbon Registry with unique serial numbers. Projects undergo certification through Gold Standard (international), Skógarkolefni (Icelandic Forest Carbon Standard), and IFS, verified by third parties including Enviance, iCert, and TUV NORD. Data management is handled through the Datact platform in partnership with Svarma for drone-based monitoring and digital twin creation.

Differentiator

Problem solved

Functional benefit

Products and services

• Certified Carbon Credits (Vottar kolefniseiningar) Certified carbon credits representing one tonne of CO2 equivalent sequestered or removed from the atmosphere through YGG's afforestation projects. Each credit is tracked with a unique serial number in the International Carbon Registry (ICR) and sold to companies and organizations seeking to offset their emissions. Credits are sold as 'pending carbon units' before sequestration has materialized, with full certification occurring after actual carbon binding is measured, typically about 5 years from planting.
• Afforestation Projects (Skógræktarverkefni) Forestry projects for carbon sequestration across Iceland, planting spruce, pine, larch, birch, and aspen across multiple locations including Saltvík, Ljárskógar, Hamrar, Fjallssel, Þröm, Eyri, Davíðsstaðir, Hvanná, Egilssel, Mýrar, Arnaldsstaðir, Laugasel, and Þverá. Carbon sequestration is measured and certified regularly over 50 years, with parallel monitoring of forest health, soil carbon buildup, tree species distribution, cultural heritage, and local community benefits. Projects are certified under Skógarkolefni, Gold Standard, and IFS standards.
• Wetland Restoration Projects (Endurheimt votlendis) Projects focused on restoration of wetlands as a complementary service alongside afforestation, being developed to follow international standards such as VERRA.
• Soil Projects (Jarðvegsverkefni) Projects related to soil restoration and measurement of carbon storage in soil, developed alongside forestry and wetland restoration projects.

Quantifiable outcome

• 2,464,286 trees planted across Iceland
• +2 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature2 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Skógræktin / IFS (Icelandic Forestry Service)coreStrategic or Co-development Partner · 1 January 2025YGG and IFS signed a Memorandum of Understanding on cooperation regarding carbon sequestration forestry projects. IFS oversees laws on forests and forestry in Iceland and developed the Icelandic Forest Carbon Certification Standard (Skógarkolefni). Cooperation includes forest carbon standards, education, and consulting.
• BrimminorStrategic or Co-development Partner · 1 January 2023YGG signed a cooperation agreement with Brim (fisheries company) for a climate project in Vopnafjörður. The project is a 165-hectare carbon sequestration forestry project being developed with Vopnafjarðarhreppur municipality and Ministry of Environment, Energy and Climate.
• SvarmicoreTechnology or IntegrationYGG collaborates with Svarmi for drone-based digital assessment of natural values in preparation, implementation and follow-up of climate projects. Svarmi's Datact database manages all project data ensuring transparency and accessibility for stakeholders. YGG received a Technology Development Fund grant in partnership with Svarmi to develop improved analytical solutions.
• EnviancecoreStrategic or Co-development PartnerEnviance, in collaboration with iCert, is responsible for certification of YGG projects. The certification process ensures real climate benefits, explains project governance, land ownership, legal compliance, and alignment with public forestry policies. Certification of approximately half of the projects expected to be completed by 2025.
• iCertcoreStrategic or Co-development PartneriCert works in collaboration with Enviance for certification of YGG projects. Multiple YGG projects have already received certification from iCert.
• TUV NORDcoreStrategic or Co-development PartnerGerman certification body TUV NORD completed Gold Standard certification for YGG's Mýrar project in 2024.
• Gold StandardcoreStrategic or Co-development PartnerInternational certification standard. YGG's Mýrar project underwent Gold Standard certification completed by TUV NORD in 2024.
• LOS (Land & Ocean Services)minorOthersListed as a partner/supporter of YGG's climate projects.

Scale indicators5 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Sylvera: Independent ratings and MRV provider for forestry carbon credits using satellite and remote sensing data — overlaps with YGG's Svarmi/Datact drone-based digital-twin and project-data monitoring layer.
• Pachama: Tech-enabled nature-based carbon credit marketplace and project quality assessor focused on forestry credits — competes for the same corporate buyers of high-integrity forestry offsets that YGG targets.
• PUR Projet: Nature-based carbon project developer specializing in regenerative agriculture, agroforestry, and restoration projects that sells certified credits to enterprises — directly comparable landowner-aggregation-and-credit-issuance model.
• South Pole Group: Large global carbon project developer and consultancy originating nature-based credits (forestry, agriculture, soil) and selling to enterprise buyers — same dual-sided landowner/corporate-buyer model as YGG, but at much greater scale and geographic breadth.
• Forest Carbon (UK): UK-based forestry carbon project developer that establishes woodland carbon code projects with landowners and sells verified credits to corporates — closest functional analogue to YGG's afforestation-and-certification model.

Broad incumbents

• Climate Impact X (CIX): Singapore-based carbon exchange and project developer operating in nature-based credits including forestry — relevant counterpart for YGG on both the project-origination and credit-distribution sides.
• Plan Vivo: Long-established standards body and ecosystem for community-led land-use carbon projects; comparable certification framework and project-development pathway to YGG's Skógarkolefni / Gold Standard model.

Regional players

• Carbonbay: Nordic-Baltic carbon project developer focused on forestry and land-use credits — closest regional peer to YGG with comparable Nordic jurisdictional positioning and buyer base.

Emerging players

• Nori (NCX): Marketplace for soil and nature-based removal credits with project origination; adjacent rather than directly competing, but competing for the same voluntary market buyer dollars.

Others

• Svarmi: Icelandic drone and data-platform partner of YGG providing Datact and digital-twin technology — not a competitor but a key enabler whose technology stack underpins YGG's MRV differentiation.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/watch?v=nkFuqJnoIsw&t=2s
• LinkedInlinkedin.com/company/yggdrasill

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 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 Yggdrasill Carbon