Reykjavík Energy at Arctic Circle
Reykjavík Energy's session at the Arctic Circle Assembly 2024 will delve into the untapped potential of renewable energy sources and innovative technologies that are reshaping the global energy landscape.
Date: Friday, October 18th at 17:10 - 18:05
Location: Harpa
Register for the Arctic Circle Assembly here
The energy transition is one of the biggest and most important projects in the history of mankind. It is both complicated and there is great time pressure. To achieve our goals, we need to produce sufficient green energy, meaning electricity and geothermal energy. We must increase and improve both to move beyond the current situation of discussing an energy shortage. Once we have addressed the energy shortage, we still need to tackle what is known as energy transition. It is our most critical task right now and is a part of the global journey to transition away from polluting fossil fuels.
Iceland has committed to participating in the project to fight global warming by reducing the Earth’s temperature by one and a half degree. The world aims to triple the amount of green energy by 2030 and double the energy efficiency at the same time. However, in some ways the current situation is backwards. The reality is that we are discussing an energy shortage in Iceland, when we should be talking about opportunities. The energy transition is about changing production methods, transportation, general ways of life and finding new ways to move societies forward to a greater success - in harmony with nature. We are not only replacing fossil fuels with sustainable energy sources, but also creating by-products, new business opportunities and improved energy efficiency. In this way, new companies and jobs will be created that increase economic growth and our competitiveness as a nation.
We therefore want to call this the "The Current Shift“ and not the energy transition. It better captures the revolution and multiple effects that we Icelanders can reap. The word current refers to these issues being highly current, and it is also a term that refers to the flow of electricity. The Current Shift captures the revolution and multiple effects that we Icelanders can reap.
The energy shortage, energy transition and current shift – these are just terms for the opportunities we are observing, and discussions are already underway with many of the most interesting, innovative and creative startups in this field. There are clear opportunities in the energy exchange - for the environment, business life, financial life, human life, Iceland's image and the whole society. These opportunities are emerging due to an unprecedented transformation occurring globally.
Clear Opportunities reflects the goals that Reykjavík Energy aims to achieve for the future. Clear refers to pure, green energy which we seek to enhance in various ways, while the opportunities we discuss are those that benefit our society and the positive impact we, as a company, can have. Reykjavík Energy‘s vision for the future is simple: We are a catalyst for a sustainable future. Each word carries great significance and meaning for us. We strive for purpose in everything we do and base our actions on this perspective.
Sævar Freyr Þráinsson
CEO of Reykjavík Energy
An executive with broad experience, Sævar was the CEO of Síminn, Iceland‘s leading telecommunications company, 365 media corporation, and, most recently, served as the Mayor of Akranes municipality. Since Akranes is one of the owners of RE, Sævar had a previous role to play in relation to the company where he, for example, supported the progress of Carbfix, and used his experience and background in projects related to Ljósleiðarinn (Reykjavík Fibre Network).
Sævar has a cand. oecon in business administration from the University of Iceland with a focus on marketing. He worked at Síminn for 18 years, including seven years as the CEO. He was the CEO of 365 Media for three years before returning to his hometown of Akranes to serve as Mayor in 2017.
Sævar has been either the chairperson or board member of 17 companies in IT, software development, telecommunications, financial technology and banking solutions, pension funds, marine sales and R&D center in Iceland, UK, Sweden, and Denmark. He has also served on the boards of several charitable, social, or business-related associations, such as The Chamber of Commerce, a football club, and a hospital charity foundation to name a few.
Helga Kristín Jóhannsdóttir
Business and Development Manager of ON Power's Geothermal Park
Helga Kristín Jóhannsdóttir is the business development manager of ON Power‘s Geothermal Park. Helga Kristín has an M.Sc. degree in finance from IE Business School in Madrid and a B.Sc. degree in industrial engineering from the University of Iceland. Geothermal park ON is located at ON Power‘s power plant at Hellisheiði and aims to attract innovative companies that use resource flows from the power plant and fit into the scenario of a circular economy.
Edda Sif Pind Aradóttir
CEO of Carbfix
Edda Aradóttir, CEO of Carbfix, named among TIME100 Most Influential Business Climate Leaders. She is a chemical engineer, she completed her doctorate from the University of Iceland in 2001. Earlier, Edda worked as director of innovation and prospects in the department of research and innovation at Reykjavík Energy (RE), as well as project manager at Carbfix from 2011. In her work for RE, Edda was leader of strategic projects regarding sustainable utilisation of natural resources and headed extensive international innovation projects, supported by EU climate and energy framework. Carbfix mission is to significantly contribute to climate recovery through the worldwide scaling and further development of underground CO2 mineral storage technologies.
Carbfix is the pioneering CO2 mineral storage operator, leading since 2012 and has successfully mineralized over 90 thousand tons of CO2 in Iceland using our proprietary technology, establishing a safe, permanent, and cost-effective solution for carbon storage.
Hera Grímsdóttir
Managing Director of Research and Innovation at Reykjavík Energy
Hera Grímsdóttir is the managing director of Research & Innovation. Hera has a master's degree in civil engineering with a focus on construction and decision-making, as well as an MBA degree from the University of Reykjavík. Since 2018, she has been the president of Reykjavík University's Faculty of Industry and Technology, but was previously the director of the construction department at the school's Faculty of Technology and Engineering. Hera has extensive management and project management experience in complex projects. She previously worked at the engineering firm EFLA, first in the energy department and later in the construction department. Between 2011 and 2015, she managed international high-tech projects at the prosthetics manufacturer Össur.
Hjalti Páll Ingólfsson
Director of GEORG Geothermal Research Cluster
Hjalti Páll Ingólfsson is a seasoned professional with over 15 years of experience in the geothermal energy sector, specializing in international project management and strategic leadership. As Director of GEORG, the Geothermal Research Cluster, he has driven the organization’s strategic development and led a multidisciplinary team in executing complex, large-scale international projects. Renowned for his leadership and expertise, Hjalti plays a pivotal role in advancing sustainable energy initiatives through effective management and collaboration across diverse teams and stakeholders. His contributions have significantly impacted the field of geothermal energy.
Áslaug Arna Sigurbjörnsdóttir
Minister of Higher Education, Science and Innovation
Áslaug Arna Sigurbjörnsdóttir was appointed Minister of Higher Education, Science and Innovation in Iceland in 2021. She was previously the Minister of Justice from 2019-2021. Born in 1990, Ms. Sigurbjörnsdóttir is the youngest female minister appointed in Iceland‘s history and the youngest Minister of Justice ever appointed in world history.
As Minister of Higher Education, Science and Innovation, Ms. Sigurbjörnsdóttir has made it her mission that innovation becomes Iceland‘s biggest export. High quality education at the university level and access to foreign experts is paramount in that vision. Sustainable industries, climate innovation and increased use of innovation and technology in all corners of society are among the top items on the Minister‘s agenda. As the head of a newly formed ministry, Ms. Sigurbjörnsdóttir is not afraid to break down walls of tradition to create a ministry that is modern and embraces the significant technological advances taking place in today‘s world.