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Geothermal Innovation Site at Þeistareykir

The construction of the first building on the site for cascading use of geothermal at Þeistareykir Geothermal Station marks the beginning of development for innovation companies in the area. GeoSilica will be the first company to begin operations in the new innovation facility on the site.

The development of cascading use of geothermal

The first building on the Innovation Site

Close to Þeistareykir Geothermal Station is a designated site for cascading use of geothermal resources, where Landsvirkjun intends to support various innovation companies in the future. The first building will be a 126-square-metre facility leased to GeoSilica.

Work underway on the innovation site in early May 2026.
Work underway on the innovation site in early May 2026.

The building will include a spacious production area and a laboratory for chemical analysis, as well as an office and an area for welcoming visitors, from which guests will be able to view the production area and learn more about the operation of GeoSilica. The building design has been carefully developed with due consideration for the surrounding built environment, ensuring that it harmonises with nearby buildings and integrates well with its broader setting.

  • Construction began at the end of April 2026.
  • Operations are expected to begin in summer 2026.

GeoSilica utilises Geothermal Silica

More about GeoSilica

The collaboration between GeoSilica and Landsvirkjun, agreed in May 2025, marks the beginning of long-term cascading use of geothermal resources at Þeistareykir. The agreement covers the lease of the building, and supply of defined resource streams. Furthermore, the collaboration agreement supports a successful long-term partnership and strengthen Landsvirkjun’s continued support to GeoSilica. Through this agreement Landsvirkjun is contributing to future innovation and creating additional opportunities for utilizing the resources entrusted to the company.

Partnership agreement signed in May 2025. From left: Ríkarður S. Ríkarðsson, then Executive Director of Business Development and Innovation; Fida Abu Libdeh, CEO of GeoSilica; and Bjarni Pálsson, Executive Director of Wind and Geothermal.
Partnership agreement signed in May 2025. From left: Ríkarður S. Ríkarðsson, then Executive Director of Business Development and Innovation; Fida Abu Libdeh, CEO of GeoSilica; and Bjarni Pálsson, Executive Director of Wind and Geothermal.

GeoSilica produces natural liquid dietary supplements for daily use and will utilise silica from geothermal fluid at Þeistareykir Geothermal Station in its production. Silica is one of the most common minerals in the world and is widely found in nature.

“GeoSilica’s operations support improved utilisation of resource streams from the Þeistareykir area and will lay a strong foundation for multiple use in the area in the future.”

Bjarni Pálsson

Executive Vice President of Wind and Geothermal

Signing of the partnership agreement between Landsvirkjun and GeoSilica. From left: Steinunn Ósk Valsdóttir, Dóra Björk Þrándardóttir, Sigurbjörg Ásta Jónsdóttir, Steinunn Pálmadóttir, Ríkarður Ríkarðsson, Haraldur Hallgrímsson, Fida Abu Libdeh, Sólveig R. Gunnarsdóttir, Hjalti Páll Ingólfsson, Bjarni Pálsson, Vordís Eiríksdóttir, Bríet Ósk Magnúsdóttir and Alma Stefánsdóttir.

Q&A

  • Yes. Landsvirkjun is looking towards further development and support for innovation companies focusing on cascading use of the geothermal resources at Þeistareykir. GeoSilica will be the first of many companies on the site long-term.

  • Geothermal silica is naturally dissolved in the geothermal fluid used for electricity generation at Þeistareykir Geothermal Station.

  • Geothermal silica can cause scaling when it comes up through wells with the geothermal fluid and travels through the production process of geothermal power stations. In this project, silica is also treated as a resource with diverse upportunities for utilization: a naturally occurring mineral that can be separated and used as a valuable resource globally.