The Iceland Eco-Business Park is situated in one of the richest natural resource areas in Iceland, a global leader in renewable energy where 100% of electricity and heating needs are met with a combination of hydro and geothermal power. Through this park, we will provide a much-needed platform for diverse industry players that have the ambition to move toward circular business models and the largest co-working space in the country.
This building was originally destined to be an aluminium smelter and was constructed using concrete and steel – both very high carbon footprint materials. It has been sitting empty for years. Based on an estimate of 800 kg/m2, by transforming this building, we will be recycling over 20,000 tons of estimated carbon emissions. By utilizing the empty space within the Eco-Business Park, companies can significantly reduce their carbon footprint, instead of starting new constructions.
One of the central components of the circular economy is that waste is designed out of the system. Our long-term vision is to build a strong community focused on solving problems through innovation, re-imagining each other’s waste streams, into new value; a truly circular environment to the benefit of all members of the community and the planet.
The Iceland Ocean Cluster is the co-founder of the Iceland Eco-Business Park. With over 60 companies under its roof in Reykjavík, The Iceland Ocean Cluster House has become a global showcase of Iceland’s aim to use all parts of the fish to create value and waste nothing – 100% fish use.
The aim of the Eco-Business Park is to extend this 100% ideology to a whole array of other industries. The new Eco-Business Park will grow the existing co-working space of the Iceland Ocean Cluster by ten-fold, and the largest in the country where new and expanding companies can rent space for their offices, research, development, and manufacturing facilities.