Mannvit, along with most of the Icelandic companies involved in geothermal energy development in Iceland, recently established an Icelandic Geothermal Cluster. This new cooperative agreement was formalized yesterday at the headquarters of Arion Bank in Reykjavik. During this initial meeting a report entitled, "Creating Added Value in Geothermal Energy" was presented. This report, authored by Mr. Hákon Gunnarsson and Mrs. Þóra M. Þorgeirsdóttir from Gekon, focused on the cluster and its potential. It also outlined and defined ten co-operative projects, which will be conducive to the development of the cluster in the next few years. Projects will be systematically processed from July 2011 to December 2012, by utilizing control techniques developed by the Cluster.
The meeting featured several keynote speakers, including the CEO of Mannvit, Eyjólfur Árni Rafnsson, Mr. Stefán Pétursson from Arion Bank, Mr. Hákon Gunnarsson and Mrs. Þóra M. Þorgeirsdóttir from Gekon, as well as Dr. Michael Porter. Dr. Porter is a professor at Harvard University and one of the world’s leading scholars in the field of policy formulation and the competitiveness of nations.
The cluster consists of some 20 companies including, The National Power Company (Landsvirkjun), HS Orka, GEORG, Íslandsbanki, The Federation of Icelandic Industries, Orkuveita Reykjavikur (OR), Arion Bank, and Mannvit.
By its participation in the geothermal cluster, Mannvit wants to contribute to further development and knowledge in the field of geothermal utilization in Iceland. Proof of Mannvit’s commitment to fulfil this contribution is the fact that they are also a member of GEORG (Geothermal Research Group), a cooperation project in the field of geothermal research in Iceland.
Strength in numbers
The main goals of this new Geothermal Cluster are to foster cooperation, thereby improving competitiveness, and to bolster innovation of the Icelandic companies involved in geothermal energy. By doing so, the Cluster hopes to attract additional domestic and foreign investment and further encourage the export of geothermal expertise as well as technical advances in the geothermal industry.
The Geothermal Cluster analytical results show that great opportunities lie in its development in the coming years. Three major opportunities for growth were pointed out at this meeting. First, to attract additional power-intensive businesses to the country. Second, that there are great possibilities in exporting geothermal energy by laying a marine cable to Europe. And lastly, that significant geothermal knowledge exists within the cluster for export to markets abroad.