Two Joint Venture Projects Awarded EU Grants

Orkídea is one of the companies recently given a grant of approximately EUR 6.3m to develop new methods to produce fertiliser and biogas from organic waste products from land-based aquaculture and agriculture sectors.

The project, Terraforming LIFE, is a joint venture between Orkídea, First Water (Landeldi), Iceland’s Farmers’ Association (Bændasamtökin), Ölfus Cluster and SMJ from the Faroe Islands, and associates Blue Ocean Technology from Norway. Landsvirkjun has sponsored Orkídea from the beginning.

The four-year project was started on 1 June 2023.

Eimur, another company that Landsvirkjun has sponsored from the start, along with Icelandic New Energy (Íslensk NýOrka), will lead a project in Iceland that was recently awarded EUR 1.5 million from the LIFE Programme, the EU’s funding instrument for the environment and climate action. The Westfjords Regional Development Office (Vestfjarðastofa) and the Northeast Iceland Development Fund (Samtök sveitarfélaga og atvinnuþróunar á Norðurlandi eystra) are also associated partners. International co-operating parties are in Slovenia, Southeast Sweden, and Spain. Landsvirkjun is a proud sponsor of Eimur.

The project is called RECET, or Rural Europe for the Clean Energy Transition. It is intended to empower municipalities in five European areas to take forward the energy transition and devise plans regarding the energy transition in harmony with stakeholders and industries.

The expertise developed through RECET will be available to all municipalities in Iceland and elsewhere in Europe.

The three-year project will kick off on 1 October 2023.

Landsvirkjun would like to congratulate the individuals who have worked on these projects; this is an acknowledgment of their creative innovations and zeal. The Company is proud that Eimur and Orkídea are participating associates in these two projects, as they were purposefully established to identify innovation opportunities.