This will allow Carbon Iceland to capture more than one million tons/year of CO2 that will be used to produce renewable fuel for the Icelandic fishing and maritime industries and other transportation vehicles and equipment.
The Carbon Iceland project will help Iceland significantly to reach emission reduction targets for 2030 and 2040 as agreed by the Icelandic government. Mitsubishi Heavy Industries will provide an optimal capture technology solution for the projec, while Siemens Energy is engaged in developing the project’s Energy System Design Optimisation using its experience with hydrogen production technology and Power-to-X.
A project introductory meeting was held in Reykjavik 17-18 October where the Minister of the Environment, Energy and Climate, Mr. Guðlaugur Þór Þórðarson, met with Carbon Iceland and its partners. The Minister celebrated this important step in Iceland‘s energy transition and the plan to prevent a significant amount of CO2 emission from entering the atmosphere. The Carbon Iceland team also met with the President of Iceland, Madam Halla Tómasdóttir to introduce the large capturing plan and to production of renewable fuel for Iceland’s industries.
Útgerðarfélag Reykjavíkur has already signed an off-take agreement with Carbon Iceland, securing renewable fuel for the company's Factory Vessel, Guðmundur í Nesi RE-13, for years to come. Útgerðarfélag Reykjavíkur has been a leader in planning the new future with renewable fuels and has already completed substantial work on their vessel Guðmundur í Nesi RE-13, by modifying engines to be ready for the future of renewable fuels.
Carbon Iceland's first capturing and production facility will be located at Grundartangi