Landsvirkjun and Eimskip Join Forces for the Energy Transition


Letter of intent signed today

Landsvirkjun and Eimskip signed a Letter of Intent today concerning Eimskip’s energy transition for its shipping- and ground transport fleet.

The Companies will jointly analyse market conditions and technology development regarding the use of hydrogen or e-fuel instead of fossil fuels in transportation, resulting in greatly reduced greenhouse gas emissions. Based on these analyses, the Companies will discuss potential future procurement and sales of hydrogen or e-fuel, produced by Landsvirkjun or its partners.

The time to act is now

Hörður Arnarson, Landsvirkjun’s CEO, says this is a significant step for the energy transition of the Icelandic economy.

“We believe that hydrogen and e-fuel will play a major role in the energy transition. Landsvirkjun is committed to paving the way, having already announced two e-fuel projects. The first one is aimed at producing hydrogen for heavy duty vehicles and other exciting innovation projects, and the second project concerns production of methanol for the energy transition in maritime. The collaboration with Eimskip and other leading Icelandic companies is vital for understanding future needs of the end-users of this new green energy.”

Vilhelm Már Þorsteinsson, Eimskip’s CEO, says the Company wants to take important steps towards the energy transition, therefore, the collaboration with the nation’s energy company is essential.

“We emphasise being at the forefront in the energy transition. It is important to be a part of the driving force and take on projects that support this progress. Eimskip’s operations are diverse and cover transport on land and sea, as well as providing miscellaneous transport services, hence, we must find more than one solution. The impact of implemented measures derived from our environmental projects has proven to be beneficial. However, we want to take even larger steps, and our collaboration with Landsvirkjun is an important part in that progress.”

Furthermore, concerning the energy transition, the CEOs agree that there is no time to spare and the time to act is now.