www.verkis.com

What www.verkis.com does

Verkís hf. is an Icelandic multi-disciplinary consulting engineering firm founded in 1932 and headquartered at Ofanleiti 2, 103 Reykjavík. The firm provides project-based engineering services across the full asset lifecycle — feasibility, design, construction supervision, commissioning, and operational support — for energy (geothermal, hydropower, wind, electrical systems), transport infrastructure (airports, roads, traffic systems), and buildings (safety design, procurement, cost estimating). Its core technical toolkit combines BIM-based 3D design methodology with specialized electrical analysis platforms (DIgSILENT Power Factory, Paladin Design Base, CDEGS) and protection-system testing equipment (OMICRON).

The firm generates revenue through professional services contracts with enterprise clients, principally utilities, governments, and industrial operators. Its largest disclosed engagements span geothermal and hydropower infrastructure in Iceland (Hellisheiði, Nesjavellir, Kárahnjúkar, Blanda, Theistareykir) and internationally (Germencik in Turkey, Olkaria in Kenya, Corbetti in Ethiopia, Grozni in Georgia). Verkís also acts as Owner's Engineer and Technical Adviser to multilateral lenders such as EBRD on third-party projects, and maintains consortium partnerships with ÍSOR, Mannvit, Efla, and HRV Engineering. The firm holds ISO 9001, ISO 14001, ISO 45001, and ÍST 85 equal-pay certifications and reports under a published Sustainability and Performance Report.

Distribution is entirely direct — no intermediaries, resellers, or technology platform licensing. Verkís has six branches across eleven locations in Iceland plus international offices in Norway, Denmark, Greenland, Poland, Kenya, and Georgia, and executes projects in markets including Iceland, the Nordics, East Africa, the Caucasus, the Middle East, Central America, and East Asia. Customer acquisition is driven by reputation, technical publication, international conference presence (World Geothermal Congress, FIDIC, Autodesk DevCon), and competitive tenders; pricing is project-based with internally maintained rate lists and is not publicly disclosed.

Name

www.verkis.com

Legal name

Verkís hf.

Website

https://verkis.com

Company type

Private

Founded year

1932

Operating status

Operating

Headcount range

251–500 employees

Short description

Verkís hf. is an Icelandic multi-disciplinary consulting engineering firm, founded in 1932 and headquartered in Reykjavík, delivering feasibility, design, supervision, and advisory services for geothermal, hydropower, wind, transport, and building projects to utilities, governments, and industrial operators in Iceland and internationally.

Ownership category

akta.pro rank

Product category

Engineering Consulting Services

NAICS

Engineering Services (54133), Engineering Services (541330)

SIC

Services-Engineering Services (8711)

akta.pro primary industry

Energy Systems & Power Engineering Consulting (BPAHAIAG)

akta.pro secondary industries

Civil & Structural Engineering Consulting (BPAHAIAA), Construction Engineering & Constructability Consulting (BPAHAIAN)

Keywords

• Engineering consulting services
• Geothermal power plants
• Hydropower plant design
• Transport infrastructure engineering
• Electrical power systems

Headquarters

HQ city

Reykjavík

HQ country

Iceland

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Engineering Consulting Services: Verkís provides comprehensive engineering consulting services for energy projects (geothermal, hydropower, wind), transport infrastructure, buildings, and industrial facilities. Services include feasibility studies, design, construction supervision, and project management. Revenue is generated through project-based contracts with energy companies, governments, and industrial clients.
2. Technical Advisory Services: Technical advisory services for project preparation, design phases, and financial close processes. For example, Verkís served as Technical Adviser to EBRD for the Germencik geothermal project during preparation and design phases.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Verkís is a multidisciplinary Icelandic consulting engineering firm providing feasibility studies, design, construction supervision, and project management for energy projects (geothermal, hydropower, wind), transport infrastructure (airports, roads, traffic systems), and buildings. The firm supports clients across the full project lifecycle from conceptual development through commissioning and operational consultation, delivering technical advisory services alongside detailed engineering design.

Product overview

Verkís Consulting Engineers is a multi-disciplinary engineering consultancy firm offering comprehensive consulting services across energy (geothermal, hydropower, wind power, electrical power production), transportation infrastructure (airports, roads, bridges, tunnels, traffic systems), and buildings (safety design, procurement management, cost estimates). The company provides services from feasibility studies through design, construction supervision, and operational support. Verkís is an Icelandic company headquartered in Reykjavik with international operations in Norway, Denmark, Greenland, Poland, Kenya, and Georgia. The portfolio spans over 16 distinct service categories covering the entire project lifecycle for power generation, transportation, and building projects.

Differentiator

Problem solved

Functional benefit

Products and services

• Geothermal Power Plants Services Comprehensive consulting services for geothermal power plant development including preparation, design, and construction support, covering all phases from initial preparation to commissioning, including drilling boreholes and transmission system connection.
• Hydropower Services Design and consulting services for hydropower plants covering the entire lifecycle from conceptual development to operation, including dams, underground structures, waterways, power stations, machinery, and electrical equipment.
• Electrical Power Production Services Engineering and advisory services for electrical power production supporting development, optimisation, and operation of energy generation facilities including power plants, renewable energy systems, and electrical infrastructure.
• Wind Power Services Multidisciplinary engineering services for wind power projects from development through implementation, including feasibility studies, site assessments, turbine design, and operational support.
• Backup Generators Services Expert engineering and advisory services for backup power systems, including design, implementation, and optimisation of standby power solutions for critical facilities such as hospitals and data centers.
• System Checks Services System check and performance verification services using advanced analysis software (Power Factory, Paladin Design Base, CDEGS) for electrical systems including load flow, short-circuit, and protection analysis.
• Control and Defense Equipment Services Engineering services for defense equipment of power systems including protection relay calculations, testing with OMICRON equipment, and system analysis using DigSilent Power Factory.
• Safety Design Services Holistic safety design services including risk assessments, safety analysis, and engineering solutions for buildings, infrastructure, and industrial facilities to protect people and assets.
• Procurement Management Services Procurement and negotiation services including tender document preparation, supplier evaluation, contract management, and logistics coordination for construction and industrial projects.
• Cost Estimates Services Cost estimating and cost planning services using AACE International methodology and proprietary software for initial, maintenance, and operating cost estimates for construction projects.
• Other Power Production Services Consulting and design services for non-traditional energy sources including tides, gas pressure drop, organic fuel, and binary cycle power plants for geothermal and other unconventional energy applications.
• Airport Infrastructure Services Comprehensive airport engineering services including terminal buildings, runways, taxiways, aprons, hangars, electrical and lighting systems, and airport master planning.
• Traffic Technology Services Intelligent transport systems and traffic technology services including traffic surveys, forecasting, municipal traffic audits, and intelligent transport solutions for safety and efficiency.
• Road and Street Design Services Design services for roads, streets, footpaths, bridges, and underpasses including traffic signs, street lighting, and transportation infrastructure for urban and rural environments.
• Cycling and Footpaths Services Planning, design, and development services for cycling paths and footpaths promoting active mobility infrastructure for safer and more accessible communities.
• Chemical Safety Services Chemical safety consulting including risk assessments, product labelling, safety documentation, SDS preparation, and chemical compatibility assessments for industrial environments.
• Electrical Power Quality and Magnetic Field Services Power quality assessments and magnetic field measurements for transmission and distribution systems, including harmonic analysis, voltage disturbance evaluation, and electromagnetic field compliance testing.

Quantifiable outcome

• Kárahnjúkar hydropower plant - 690 MW installed capacity
• +4 more outcomes

Named customers9 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

Feature5 records

Partnerships

Eight partnerships are on record, tiered minor and core.

• TechonminorStrategic or Co-development Partner · 1 January 2021Indian consulting company partnered with Verkís and ÍSOR (Iceland GeoSurvey) through memorandum of understanding for cooperation on geothermal production and utilization in India. Working together on geothermal power plant development.
• Efla (consulting engineers)coreStrategic or Co-development PartnerCollaboration on defense of critical infrastructure projects at Reykjanes peninsula, including mitigation measures (dams) during volcanic eruption response. Worked together with University of Iceland on protection barriers.
• University of IcelandcoreStrategic or Co-development PartnerCollaboration on critical infrastructure defense projects including defense barriers at Reykjanes peninsula. Joint work on volcanic eruption response and protection systems.
• ÍSOR (Iceland GeoSurvey)coreStrategic or Co-development PartnerJoint cooperation with Techon on geothermal projects in India. Long-standing partnership in geothermal research and project development.
• Stucky (Turkey)minorImplementation/ SI/ Consulting PartnerCollaboration on Germencik geothermal power plant project in Turkey. Verkís led due-diligence and technical assistance work for EBRD as lender, in collaboration with ISOR and Stucky.
• MannvitcoreStrategic or Co-development PartnerConsortium partnership for geothermal projects. Appointed by Reykjavík Geothermal and later Corbetti Geothermal Company as Owner's Engineer for the Corbetti Geothermal Power Project. Also consortium partner for Theistareykir and Bjarnarflag geothermal plants.
• HRV EngineeringminorImplementation/ SI/ Consulting PartnerPartnership on Fjarðaál aluminum smelter project in Iceland. Verkís is a leading partner in HRV Engineering consortium for industrial projects.
• Reykjavík GeothermalminorChannel Partner/ Reseller/ DistributorAppointed by Reykjavík Geothermal as part of consortium with Mannvit for Owner's Engineer services for the Corbetti Geothermal Power Project.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• COWI: Danish-headquartered engineering consultancy with deep expertise in energy, infrastructure, and Arctic environments — directly comparable on Nordic engineering consulting and offshore/Arctic projects.
• Ramboll: Global engineering, architecture, and consulting firm with strong Nordic heritage and significant renewable energy, hydropower, and infrastructure practices. Comparable as a multi-disciplinary consultancy serving energy and built-environment clients.
• Sweco: Pan-Nordic engineering consultancy with broad energy, water, and infrastructure practices. Comparable in multidisciplinary engineering delivery and Nordic footprint, though much larger and more diversified than Verkís.
• AFRY (ÅF Pöyry): Swedish-Finnish engineering and design consultancy with extensive hydropower and renewable energy practices. Comparable on energy engineering consulting and Nordic market presence.
• WSP Global: Global engineering professional services firm with energy, transport, and buildings practices. Comparable in multidisciplinary project-based consulting, though at much larger scale than Verkís.

Direct peers

• Mannvit: Icelandic multidisciplinary engineering consultancy with similar geothermal, hydropower, and industrial capability. Direct competitor and consortium partner on Icelandic energy projects (Theistareykir, Bjarnarflag, Corbetti).
• HRV Engineering: Icelandic industrial engineering consultancy partnering with Verkís on Fjarðaál aluminum smelter; comparable in industrial electrical and process engineering scope.
• Stucky (Gruner): Swiss engineering consultancy with strong hydropower and dam-design heritage; partnered with Verkís on the Germencik geothermal project in Turkey as lender's technical adviser. Directly comparable on hydropower and energy infrastructure engineering.
• Efla Engineering Consultants: Icelandic consulting engineer with overlapping capabilities in energy, transport, and civil infrastructure. Partnered with Verkís on Suðurnes volcanic-defence barriers but also competes in Icelandic tenders.

Emerging players

• ÍSOR (Iceland GeoSurvey): Specialist Icelandic geoscience and geothermal subsurface consultancy. Partners with Verkís on geothermal projects (Theistareykir, India MoU) but focuses on subsurface/resource assessment rather than full multi-disciplinary engineering.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 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 www.verkis.com