Asked about the potential for green-tech companies operating in Iceland expanding into the US, Secretary Granholm said: "Actually, we have some projects already going with Carbfix, Climeworks and a number of companies that are experimenting on a smaller scale, that we have helped to fund. These technologies – geothermal and carbon management – have got to be scaled accross the world. And this is why Iceland is uniquely positioned to be a leader for the world, as you already are. But we want to be helpful in amplifying how wonderful you guys have experienced it here and how others can adopt it."

Minister Þórðarson added: "I agree, and I feel that listening to these good friends of ours talk about what we are doing gives us a better appreciation of our pioneering position in several fields. This is much larger than I think most Icelanders realize, both in terms of current and future opportunities."

US-Iceland bilateral agreement on geothermal energy and climate solutions

During Secretary Granholm‘s visit to Iceland, she and Minister Þórðarson signed a US-Icelandic bilateral agreement on cooperation in the fields of geothermal energy and climate solutions.

The agreement aims for close cooperation with private companies as well as universities and institutions, to facilitate collaboration between them.

Mineralization potential in the US

Upon arrival at Hellisheidi, the delegations received a warm welcome and presentations from Sævar Freyr Þráinsson, CEO of Reykjavik Energy, Edda Aradóttir, CEO of Carbfix, Helga Kristín Jóhannsdóttir, Head of Business Development at ON Power, and Kristinn Hafliðason, General Manager of Vaxa Technologies.

Edda Aradóttir highlighted the significant potential for CO₂ mineralization in the United States, with an estimated theoretical capacity of several thousand gigatons. She also summarized the projects Carbfix is already involved within the US in close collaboration with numerous US partners – including PNNL, RMI, Columbia University and the University of Wyoming – and supported by DOE grants.

About Carbfix

Carbfix is the world’s first CO₂ mineral storage operator. Since 2012, Carbfix has mineralized over 90 thousand tons of CO₂ in Iceland using proprietary technology. This proven, safe, permanent, and cost-effective carbon storage solution is ripe for significant upscaling both in Iceland and worldwide. Carbfix’s largest current project is Coda Terminal, recipient of a EUR 115M grant from the EU’s Innovation Fund, with an expected capacity to mineralize 3 million tons of CO₂ annually. Further information at: www.carbfix.com