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October 22, 2021 New Today

The Spotlight On Iceland’s Capital City Shines Even Brighter With The Arrival Of The Reykjavik EDITION


With typical élan, Ian Schrager has captured the spirit of Iceland and set a new standard of luxury in its capital city. FILM: EDITION Introduces Reykjavik REYKJAVIK, Iceland, Oct. 21, 2021 /PRNewswire/ — A flourishing culinary hotspot with cool cafés, a rollicking nightlife and an epic music scene, the spotlight is shining brightly on Iceland’s…



With typical élan, Ian Schrager has captured the spirit of Iceland and set a new standard of luxury in its capital city.

FILM: EDITION Introduces Reykjavik

REYKJAVIK, Iceland, Oct. 21, 2021 /PRNewswire/ — A flourishing culinary hotspot with cool cafés, a rollicking nightlife and an epic music scene, the spotlight is shining brightly on Iceland’s hip capital city and, with typical finesse, the arrival of The Reykjavik EDITION further cements EDITION Hotels’ uncanny ability to land in just the right place at the right time. “Reykjavik is a really cool, young city – perfect for our brand,” says Ian Schrager, the visionary pioneer of the boutique hotel concept, PUBLIC and EDITION creator. “We think this is Reykjavik’s time and we’re right here at the very heart of it and at the perfect time.”

Opening in preview on November 9th, 2021, The Reykjavik EDITION will set a new standard as the city’s first truly luxury hotel experience, combining the best of the Icelandic capital with the personal, intimate and individual experience that the EDITION brand is known for. The result is a vibrant and sophisticated urban hub with 253 rooms, an outstanding line-up of bars, signature restaurant and nightclub and, in true EDITION style, the introduction of a new kind of modern social wellness concept. In the land of hot springs, mineral waters and natural fjords, this creative innovation, visceral emotional experience and authenticity of Ian Schrager, together with Marriott International’s long-standing operational expertise and global reach, results in a totally distinct offering that further boosts Reykjavik’s growing allure as a world class international cosmopolitan destination.

Iceland is an aspirational destination for many, in-between North America and Western Europe – increased flight routes, and its otherworldly landscape, drawing visitors from far and wide. The Reykjavik EDITION is the first true luxury brand entering the market which has facilities and services like no other. First appearing on the map when American chess grandmaster Bobby Fischer won the World Chess Championship in Reykjavik in 1972, Schrager, who was following the event at the time, says he was taken aback by the country’s unspoiled, natural beauty. Indeed, marooned in the North Atlantic Ocean, just beneath the Arctic Circle, Iceland is quite literally in the making, its constantly evolving landscape the result of rumbling volcanoes, bubbling hot springs, erupting geysers and shifting tectonic plates. All of this has resulted in a spectacular, mystical medley of bright green moss-carpeted lava fields, soaring glaciers and rugged mountains sliced by deep, river-cut valleys. “In Iceland, you’re getting to see things you won’t see anywhere else,” says Schrager. “More so than any other place in the world, it’s a real opportunity to get in touch with earth and nature and we’re proud to further expand the EDITION brand in an incredible place with an incredibly exciting hotel that gives you a true sense of place.”

Using his Midas touch, Ian Schrager has carefully conceived, concepted and programmed the hotel to create an alchemy and sense of magic exclusive to this hotel. The Reykjavik EDITION designed in partnership with local architecture firm, T.ark and New York-based studio, Roman and Williams with guidance of ISC (Ian Schrager Company) design, subtly captures the spirit of Reykjavik while avoiding the clichés and remaining firmly rooted in the EDITION brand’s strong sense of refined sophistication and style. On a harborside perch, against glorious mountain views, the hotel is in a flawless location at the heart of the city: adjacent to Harpa, the landmark concert hall and conference center – whose multicolored glass façade was designed by the celebrated Icelandic and Danish artist Olafur Eliasson – and just minutes from Laugavegur, the main shopping street in downtown Reykjavik.

From the outside, The Reykjavik EDITION is a striking addition to this downtown neighborhood. Its ebony façade of shou sugi ban timber has been charred to be blacked using an ancient Japanese technique, and blackened steel frames is a clear nod to Iceland’s dramatic lava landscape. The simple, clean-lines of the building itself have been angled to make the most of the views and its lively harborside setting with a double-entrance lobby accessible either from the pedestrian Harpa plaza, or the Harbor. The latter – in a grand sense of arrival similar to The Times Square EDITION – features a canopy, its underside illuminated by 12,210 glass LED nodes.

As with all EDITION hotels, the lobby is a dynamic, social space that subtly reveals a sense of place and sense of time. Here, basalt stone – or volcanic rock – is prominent, appearing on the flooring, which has been laid with an intricate pattern inspired by Icelandic geometry, and a standout sculptural reception desk. In the lobby center piece, the ISC team have added Icelandic lava stone sculptural totem to balance the warm materials such as tactile saddle leather wrapped around concrete columns – and white oak flooring, ceiling beams and slats, which flank the lobby bar. Lobby bar beverage menu focuses on global wines by the glass selection and classic cocktails with an Icelandic twist. The lobby lounge features a central open-flame fireplace which is the hearth of the space, surrounded by seating and a collection of custom-made furniture in intimate seating groups, such as the Jean-Michel Frank-inspired armchair in white shearling and Pierre Jeanneret-inspired chairs in black velvet. As ever, there is a strong emphasis on warm, indirect lighting, which has been thoughtfully considered to create a soft glow and to illuminate fixed furnishings like the bar and the reception desk and Christian Liaigre white bronze floor lamps to create a likeness to a jewelry box installation.

Inside the entrance of the hotel, ISC has collaborated with local artisans to create a totem sculpture of stacked, columnar basalt slate from the south of Iceland. Rising close to four meters high, the sculpture’s inspiration is found in the traditional Cairns that act as landmarks across Iceland’s countryside. Dramatically lit by both electric and candlelight and surrounded by a basalt bench, the totem is layered with lush black sheepskins, black damask and silk pillows, becoming a gathering place to see and be seen, at the center of the lobby. Right next to this, inspired by the spectacle of the aurora borealis (Northern Lights), ISC has video mapped the Northern Lights and has created an immersive, three dimensional and atmospheric digital artwork of beautiful green and purple dancing waves. Located in the lobby, it stirs a reaction and emotion, similar to witnessing the natural phenomenon in the Icelandic night sky…but in the comfort, warmth, and intimacy of the lobby and lobby fireplace.  We call it Northern Lights on demand.

Accessible from the lobby, the ground floor is also home to Tides, the signature restaurant with private dining room, and café with homemade baked goods, and Tölt, an intimate bar that takes its cues from The London EDITION’s award-winning Punch Room. Tides, which has an outdoor terrace and its own waterfront entrance, is helmed by Gunnar Karl Gíslason – the chef behind Dill, Reykjavik’s much-celebrated New Nordic Michelin-starred restaurant. The rich and sophisticated interiors have been thoughtfully considered for a seamless transition from day to night, featuring floor-to-ceiling windows that, during the day, shed natural light onto fluted concrete columns and oiled ash wood details such as the dramatically lit ceiling panels, various furnishings, and a central hexagonal-shaped bar- over which hangs a custom-made bronze and alabaster chandelier by the renowned French artist, Eric Schmitt. In the mornings, breakfast is a fresh, healthy mix of clean juices, pastries, fruit, cereal and skyr (Icelandic yoghurt) supplemented by an à la carte menu of hot dishes and a selection of open-face sandwiches. For lunch and dinner, Gíslason serves modern Icelandic cuisine, with subtle hints of traditional cooking methods, focused on seasonal local products and the highest quality of global ingredients mainly cooked over an open fire. Alongside an extensive global wine list, expect dishes such as a vertical salad topped with fried oyster mushrooms aged soy sauce and roasted almonds, whole Arctic char stuffed with lemon, dill and garlic butter, baked Atlantic cod, grilled potatoes, mixed herbs and butter and lamb shoulder braised and slowed grilled, pickled onions mint and apples, and for dessert, Tides carrot cake, buttermilk ice-cream, carrot and sea buckthorn jam, with roasted caraway oil. There is also a weekend brunch menu and three nights a week, The Counter, overlooking the theatrical open kitchen, will serve an eight-course tasting menu with wine pairings for up to 10 people. Meanwhile those looking for something more casual can pop into the bakery and café for a coffee and a selection of freshly baked crowberry scones to delicious sourdough or rye bread sandwiches where guests can dine in or take away.

On the opposite side of the lobby, away from prying eyes, Tölt – named after the unique fifth gait Icelandic horses are best known for – is a cozy bar, designed as a hidden sanctuary with three intimate nooks featuring colorful custom rugs with a pattern inspired by traditional Icelandic geometry, teak tambour walls, burnt orange banquettes and pony hair poufs that surround a central fireplace. Outside of the alcoves, the space is cocooned with rich walnut ceiling panels, and flooring, a custom-made walnut chandelier and floor-to-ceiling windows that frame views of Harpa. Behind the green marble-topped bar are backlit aged bronze shelves suspended from the ceiling, which create a warm glow under which to enjoy a menu of cocktails inspired by Icelandic culture using local Icelandic spirits.

Set to be a destination of its own, The Roof is located on the hotel’s 7th floor and offers panoramic mountain, North Atlantic Ocean and old town vistas. A versatile space that can be divided by a glass door for private events allows it to be the best place from which to enjoy the endless bright summer evenings as well as the magical northern lights in the colder months. Floor-to-ceiling glass doors open onto a large wrap-around seasonal outdoor terrace, scattered with comfortable seating and a large fire pit, while the slick all-black interiors create a discreet background that doesn’t detract from the views. Here, the casual vibe is supplemented by a small menu of comfort foods like grilled flatbreads, toasted sandwiches and fresh salads. From this vantage point, it is evident that Ian Schrager designed the hotel based on the views from the property.

Unfolding over the floors under the rooftop, the hotel’s 253 guestrooms and suites have been designed as warm retreats, each with their beds facing floor-to-ceiling windows that frame various views of the surrounding neighborhood. Some come complete with an outdoor terrace, while all of them are an embodiment of the EDITION brand’s approach to modern luxury with a subtle local flavor. A muted palette of ash wood and pale grey oak serves as a warm foundation for a feature formwork concrete wall, Italian custom-made furniture, copper bed light sconces, faux fur rugs, and artwork and accessories from local craftsmen, such as the colorful bed throw by local wool company, Ístex, ceramics by artist Guðbjörg Káradóttir, and in room art by famous Icelandic artists Pall Stefansson and Ragnar Axelsson showcasing Icelandic landscapes, exclusive to EDITION. Meanwhile, the monochrome bathrooms with custom handmade white ceramic tiles made in Italy, are furnished with a white marble vanity, matte black accessories, and fittings alongside custom Le Labo toiletries of EDITION’s exclusive scent. From its prime corner spot on the 6th floor, the one-bedroom Penthouse Suite – with its own private terrace has magnificent harbor, Harpa and mountain views that are further complemented by bright, light-filled elegant interiors of plush custom furnishings in creamy oatmeal tones. The Penthouse Suite is also accessorized with an oversized bathroom with Italian white marble and a central fireplace too.

The Reykjavik EDITION offers modern meeting and event spaces, including flexible studios, a boardroom with natural light, bleach oat-wide plank floorings, and a grand ballroom with pre-function space. The flexible ballroom with floor-to-ceiling glass windows can be divided into two separate spaces, while large glass doors are wide enough to accommodate a car.  Within the ballroom is a hanging alabaster chandelier paired with natural felt overwraps draped around the ballroom.

The lower ground floor is home to Sunset, opening later this year, a cool underground night spot with a state-of-the-art sound system and theatrical lighting that illuminates a dark and edgy black concrete interior with a black cast concrete bar. Sunset can be divided into three spaces with access from the hotel and Harpa square. Along with a killer cocktail menu and an ongoing roster of events, the club will play host to some of the world’s top DJs and performers, earmarking it as the latest unmissable destination in Reykjavik’s thriving nightlife scene. There is also a private entrance for those in need of the utmost discretion. “It would have been a dream to have opened Studio 54 here where darkness lasts 6 months rather than the 8 hours as it does in New York City. It would have been the perfect place for it” says Schrager.

Also, on the lower ground floor is a gym, which is kitted out with state-of-the-art black strength training, weight, and cardio equipment, however, it is the social concept at the Spa that is one of the most unique aspects at the hotel and truly sets The Reykjavik EDITION apart. Alongside three treatment rooms, a hammam, steam room, sauna, and plunge pool which offers hydrotherapy, there is also a central lounge with a spa bar, which by day serves a fresh healthy menu of post-workout Viking shakes, champagnes and, delicious moss vodka infusions alongside snacks like volcano bread with black lava salt. This is best enjoyed in the Geothermal water splash pool together with the 60-minute Sundown Spa treatment, which includes an invigorating body massage and a cool onyx scalp massage.  Located directly opposite Sunset, the Spa is the perfect pre-party pamper space to get you thoroughly prepared for an epic evening of revelry. “A spa and wellness facility with a bar is something we haven’t really seen before,” says Schrager. “But going down there and socializing and drinking and then getting into the thermal waters is, again, a response to being in Iceland. And combining this in a tasteful and elegant way underpins what the EDITION brand is about.”

Along with its legendary service, The Reykjavik EDITION is another innovative addition to the EDITION brand and truly redefines luxury in Iceland’s cool capital city.

The hotel will be open in Preview from November 9th, 2021. An exclusive Preview Rate is available for 25% off Flexible Rates, available for a limited time only. Room rates start from 53,438 ISK per room, per night. Terms and conditions apply.

The Reykjavik EDITION, Austurbakki 2, 101 Reykjavik, Iceland
Reservations: +354 582 0025 | [email protected]
Hotel Inquiries: +354 582 0000 | [email protected]

ABOUT EDITION HOTELS

EDITION Hotels is an unexpected and refreshing collection of individualized, customized, one-of-a-kind hotels which redefines the codes of traditional luxury. Displaying the best of dining and entertainment, services and amenities “all under one roof,” each EDITION property is completely unique, reflecting the best of the cultural and social milieu of its location and of the time.

Conceived by Ian Schrager in a partnership with Marriott International, EDITION combines both the personal and intimate experience that Ian Schrager is known for, with the global reach, operational expertise and scale of Marriott. The authenticity and originality that Ian Schrager brings to this brand coupled with the global reach of Marriott International results in a truly distinct product sets itself apart from anything else currently in the marketplace. Each hotel, with its individuality, authenticity, originality, and unique ethos, reflects the current spirit and zeitgeist of its location. Although all the hotels look completely different from each other, the brand’s unifying aesthetic is in its approach and attitude to the modern lifestyle rather than its appearance. EDITION is about an attitude and the way it makes you feel rather than the way it looks. Sophisticated public spaces, finishes, design and details serve the experience, not drive it. For an underserved market of affluent, culturally savvy and service-savvy guests, the EDITION experience and lifestyle explores the unprecedented intersection and the perfect balance between taste-making design and innovation and consistent, excellent service on a global scale.

editionhotels.com
editionhotels.com/reykjavik
marriott.com/rekeb

Facebook: /EDITIONhotels
Facebook: /TheReykjavikEDITION
Twitter: @EDITIONhotels
Instagram: @EDITIONhotels
Instagram:@EDITIONReykjavik

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/the-spotlight-on-icelands-capital-city-shines-even-brighter-with-the-arrival-of-the-reykjavik-edition-301405939.html

SOURCE Marriott International, Inc.


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October 22, 2021 New Today

Seachill veteran set to lead Iceland Seafood UK production expansion


Iceland Seafood International has picked up a widely respected industry veteran to run production at its new UK plant, sources told Undercurrent News



Iceland Seafood International has picked up a widely respected industry veteran to run production at its new UK plant, sources told Undercurrent News


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October 20, 2021

Pool of Arctic LNG 2 creditors established, loans to be signed by end of year


MURMANSK. Oct 18 (Interfax) – A pool of creditors for the Arctic LNG 2 project has now been established, Novatek CEO Leonid Mikhelson told reporters. “It has been established. “[It remains] to sign on the dotted line,” Mikhelson said. “We’ll arrange all necessary project financing this year,” he said. Mikhelson also said documents on the…



MURMANSK. Oct 18 (Interfax) – A pool of creditors for the Arctic LNG 2 project has now been established, Novatek CEO Leonid Mikhelson told reporters.

“It has been established. “[It remains] to sign on the dotted line,” Mikhelson said. “We’ll arrange all necessary project financing this year,” he said.

Mikhelson also said documents on the possibility of Russian banks increasing financing had been signed.

Mikhelson said on September 3 that he was not seeing help from governments of European states whose companies are participating in the Arctic LNG 2 project so he had arranged with Russian banks to double their contribution to 60% from 30%. He said the decisions by European countries were related to politics.

He said French export-import agency BPI France, as well as Germany’s Hermes had not put financing for Arctic LNG on their agendas in the summer, although both French and German equipment suppliers were involved in the project, and that the company had received no further questions. “I think we won’t be expecting anybody else, they won’t be involved,” Mikhelson said, adding that in his view this had nothing to do with the green agenda prevailing in Europe at present.

“On the whole I think that this is connected not with the green agenda, but with the political agenda. And with the political agenda not of a state, but of the specific leaders of these states,” he said.

External financing for the $21.3 billion Arctic LNG 2 project should come to 9.2 billion euros. The plan was to secure 30% of that from each of China, Japan/Europe and Russia.

This article was originally posted on the website of Interfax.


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October 20, 2021

AEC and Arctic Parliamentarians sign MOU at the ACA 2021 in Reykjavik


Signing of a Papers on Sustainable Development in the Arctic The Arctic Parliamentarians and the Arctic Economic Council took a new step towards consolidating a partnership working towards sustainable human and economic development in the Arctic, when they signed a Memorandum of Understanding (MOU). On Thursday, October 14th during the Arctic Circle Assembly in Iceland,…



Signing of a Papers on Sustainable Development in the Arctic

The Arctic Parliamentarians and the Arctic Economic Council took a new step towards consolidating a partnership working towards sustainable human and economic development in the Arctic, when they signed a Memorandum of Understanding (MOU).

On Thursday, October 14th during the Arctic Circle Assembly in Iceland, a panel debate on sustainable economic development in the Arctic was held. Among the panelists were Danish Foreign Minister Jeppe Kofod, Member of Parliament Aaja Chemnitz Larsen (IA), Director of the Arctic Economic Council Mads Qvist Frederiksen, EU Special Envoy for Arctic Affairs Michael Mann and CEO of SÝN Heiðar Guðjónsson.

The focus of the panel debate was sustainable economic development and what it will take to attract foreign investment to the Arctic – especially for Greenland the importance of political stability was discussed. The panel debate was followed by the signing of an understanding paper between the Arctic Parliamentarians and the Arctic Economic Council.

Every two years, the Arctic Parliamentarians hold a conference for parliamentarians from the Arctic countries and the European Parliament. At the most recent conference, Aaja Chemnitz Larsen was elected chairman. Aaja Chemnitz Larsen states the following about the signing:

“It is very positive that we can sign an agreement on sustainable development in the Arctic. Arctic Parliamentarians are representatives of the people of the Arctic, so it is important to us that economically sustainable development in the Arctic directly benefits the people of the Arctic”.

Mads Qvist Frederiksen, director of the Arctic Economic Council, was also very enthusiastic and stated:

“Partnerships in the Arctic are important. Arctic Parliamentarians are a natural partner of the Arctic Economic Council, as we both represent the entire Arctic, in addition, we also have in common that we fight for investment in the region”.

The signed agreement states that the organizations commit to promote sustainable economic development, the promotion of meaningful involvement of indigenous peoples in the Arctic, and the promotion of the implementation of the Arctic Investment Protocol as platforms for cooperation.

“With the signing of this agreement, we have taken a new step towards a collaboration that will secure new investments for the Arctic, for the region as a whole, but also for the inhabitants of the Arctic,” says Aaja Chemnitz Larsen in conclusion.

Facts:

The Arctic Economic Council (AEC) is an independent organization that facilitates Arctic business-to-business activities and responsible economic development through the sharing of best practices. AEC was created by the Arctic Council during the 2013-2015 Canadian chairmanship.

Arctic Parliamentarians represent elected members of the Parliaments of the eight Arctic countries and the European Parliament. The Arctic indigenous peoples are permanent participants in the Committee too. Arctic Parliamentarians meet several times a year to discuss matters of importance to the Arctic people. Every second year the members adopt a statement, which outlines the shared the political focus of the Committee members.

Photo credit on the cover: Arctic Circle

This article was provided by the Arctic Economic Council and the office of Danish Folketinget MP Aaja Chemnitz Larsen.


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October 19, 2021

Samherji plans $11m expansion to prototype land-based salmon farm


The farm at Oxarfjordur is targeting growth to a production capacity of 3,000t of salmon  annually, in preparation for the construction of its planned 40,000t facility



The farm at Oxarfjordur is targeting growth to a production capacity of 3,000t of salmon  annually, in preparation for the construction of its planned 40,000t facility


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October 15, 2021

Iceland land-based salmon firm secures first-phase funding


Landeldi’s total new equity for this year is €15.3m, after majority family-owned investment company Stodir bought a 32.9% stake in the firm



Landeldi’s total new equity for this year is €15.3m, after majority family-owned investment company Stodir bought a 32.9% stake in the firm


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October 15, 2021

Norway, Russia agree big cuts in Barents Sea cod, haddock quotas 


Norway and Russia have agreed to significant but not unexpected cuts in the quotas for cod and haddock in the Barents Sea for 2022



Norway and Russia have agreed to significant but not unexpected cuts in the quotas for cod and haddock in the Barents Sea for 2022


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October 13, 2021

Arctic zone’s residents plan investments at $3.7 billion


According to the Vice President of the Corporation for Development of the Far East and Arctic, 88% of the residents are small and medium businesses. YAKUTSK, September 29. /TASS/. The amount of announced investments by residents of the Russian Arctic Zone is 277 billion rubles ($3.7 billion), Vice President of the Corporation for Development of…



According to the Vice President of the Corporation for Development of the Far East and Arctic, 88% of the residents are small and medium businesses.

YAKUTSK, September 29. /TASS/. The amount of announced investments by residents of the Russian Arctic Zone is 277 billion rubles ($3.7 billion), Vice President of the Corporation for Development of the Far East and Arctic Vitaly Simonenko told the 3rd Northern Sustainable Development Forum.

“The laws, regulating doing business in the Arctic, have been adjusted, and thus the Russian Arctic is now the world’s biggest economic zone of 5 million square kilometers with a competitive set of incentives,” he said. “As of today, 216 companies have become residents of the Russian Arctic Zone, with announced investments of 277 billion rubles.”

According to him, 88% of the residents are small and medium businesses. “The total amount of the public, private financing in the Arctic infrastructure projects and in the Far East makes 6.3 trillion rubles ($86 billion),” he said. “About 2 trillion rubles ($27 billion) <…> have been invested, more than 400 facilities have been commissioned. The businesses will offer about 200,000 jobs, half of which are available already.”

About forum

The 3rd Northern Sustainable Development Forum is underway in Yakutsk. The organizers are the Northern Forum, Yakutia’s government and the North-Eastern Federal University. The first Northern Sustainable Development Forum was organized in Yakutsk in 2019. TASS is the event’s general information partner.

This article was originally posted on the website of TASS, Russian news agency.


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October 12, 2021

Hot Ideas from a Cold Country: Icelandic Companies Offer Green Energy Solutions


When you think of Iceland, you may imagine remote settings, pristine nature, and erupting volcanoes. But did you know that Iceland is also a champion of renewable energy and sustainable solutions? Iceland has relied on renewable energy for nearly all its electricity and heating needs for more than half a century. The nation’s electricity is…



When you think of Iceland, you may imagine remote settings, pristine nature, and erupting volcanoes. But did you know that Iceland is also a champion of renewable energy and sustainable solutions? Iceland has relied on renewable energy for nearly all its electricity and heating needs for more than half a century. The nation’s electricity is generated through hydropower and geothermal energy. Iceland’s geothermal power plants produce renewable electricity and make full use of geothermal hot water, steam, cold water, and even carbon dioxide (CO2). Iceland is also exporting its geothermal energy expertise and implementing sustainable energy projects in countries all over the world, including the United States.

Icelanders have a long history of maximizing resources, and their sustainable energy solutions are no exception. In addition to harnessing the power of renewable energy, Icelandic leadership and expertise includes innovations in recycling and the ability to capture, store and transform carbon emissions, protecting the environment from their harmful effects. As part of its commitment to sustainable energy solutions, Iceland is working toward the goal of carbon neutrality by 2040 and is set to become the first fossil fuel–free country in the world by 2050.

Here are several groundbreaking Icelandic companies championing green solutions for a more sustainable future.

  1. Converting to clean geothermal energy

Arctic Green Energy Corporation is a leading developer and operator of green energy projects, with a mission to export Icelandic success and leadership in geothermal and other renewables to markets in Europe and Asia. The impact of Icelandic solutions and expertise abroad is clearly seen in Arctic Green’s operations in China. Through a project with Arctic Green subsidiary Sinopec Green Energy, geothermal district heating in China has already led to tremendously positive environmental impacts as a replacement for coal. To date, Sinopec Green Energy has eliminated more than 11.4 million tons of CO2 emissions.

  1. Tapping geothermal and hydropower sources worldwide

ÍSOR Iceland GeoSurvey provides geothermal and hydropower research and development services to the Icelandic power industry as well as numerous foreign companies and governments all over the world. ISOR hosts the GRO Geothermal Training Programme, which promotes the utilization and sustainable management of reliable, economically viable and environmentally sound geothermal energy resources by training representatives from developing countries.

  1. Innovative ways to tap into wind power

Icewind designs uniquely shaped, robust vertical axis wind turbines that can withstand a variety of challenging environments, with low operation costs. The turbines are designed for telecom, surveillance, and commercial use anywhere you want clean electricity. They are notably weather-resistant, made for extreme conditions and remote areas.

  1. Finding a permanent storage solution for CO2

Carbfix provides a natural and permanent CO2 storage solution by turning CO2 into stone underground in less than two years. The Carbfix mineral storage technology provides an economic and efficient way of permanently removing previously emitted CO2 from the atmosphere, a key component of meeting the world’s climate goals outlined by the Paris Agreement.

  1. Recycling CO2into fuel and chemicals

Carbon Recycling International (CRI) captures CO2 emissions from any polluting source and turns them into methanol — which can then be used as fuel or as a base for other chemical compounds. The company works with industries around the world to develop valuable products from waste gases and renewable energy.

  1. Using geothermal energy to reduce plastic waste

Pure North recycles plastic using geothermal energy. Using hot water rather than chemicals to clean the plastic, they then turn that plastic directly into a product that can be used again locally in a circular fashion. The company envisions a future where all plastic in Iceland is recycled locally to eliminate plastic waste export.

  1. Enabling banking app users to track and reduce their carbon footprint

The latest innovation from the fintech company Meniga is Carbon Insight, a white label carbon calculator and engagement tool that enables people to track their carbon footprint based on their purchases, change their habits to minimize their environmental impact, and take action to offset the remaining footprint.

“As Iceland is one of the world leaders in geothermal energy and other innovative, sustainable solutions, our country is eager to share those solutions to help improve the environment everywhere,” said Einar Hansen Tomasson, head of Energy and Green Solutions at Business Iceland. “The export of Icelandic renewable energy expertise is making, and will continue to make, a positive impact on the climate worldwide.”

Learn more about Iceland’s commitment to sharing green energy expertise and sustainable innovation at GreenByIceland.com.

This article was provided by GreenbyIceland.com


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October 08, 2021

SSC invests to finalize Spaceport Esrange – first satellite to be launched in 2022


PRESS RELEASE Swedish Space Corporation (SSC) and the Nordic Investment Bank (NIB) have signed a EUR 12 million loan agreement for the finalization of a new spaceport at Esrange Space Center in Kiruna, northern Sweden. The 12-year maturity loan will finance the investments to unlock the use of reusable rockets and the ability to launch…



PRESS RELEASE

Swedish Space Corporation (SSC) and the Nordic Investment Bank (NIB) have signed a EUR 12 million loan agreement for the finalization of a new spaceport at Esrange Space Center in Kiruna, northern Sweden. The 12-year maturity loan will finance the investments to unlock the use of reusable rockets and the ability to launch small satellites into orbit as early as 2022, making Esrange the first major orbital launch site in the EU.

The 12 MEUR loan is part of an extensive modernization of Esrange that has been ongoing since 2015 – a total investment of around 50 MEUR. The loan will finance the completion of the construction of a new spaceport capability, aiming at a first satellite launch in 2022.

“This important milestone means that Sweden will become a launching state, offering the most modern ground technology possible to European and international satellite owners. This will be of great importance for future research, technology development and expanded international collaboration – all to support a sustainable development of life on Earth”, says Stefan Gardefjord, CEO of SSC.

“We are happy to contribute to our member country’s efforts to become a launching state. By expanding service offerings in the growing satellite sector, the project not only increases Sweden’s competitiveness, but also provides new capabilities for the whole European aerospace industry”, says André Küüsvek, NIB President and CEO.

The project entails construction work for the new launch site, including integration halls for rockets and satellites, expansion of planned fuel plants, launch pads and surrounding technical ground systems as well as development of technical support systems in Esrange’s operational communication center.

“With more than 50 years of experience from launching rockets and balloons, Esrange Space Center is already one of the most active and versatile launch sites in the world. And with the new spaceport capability it will most likely become the first launch site on European mainland to provide a platform for space companies to develop their next generation rocket technologies and launch their satellites”, says Philip Påhlsson, Project Manager New Esrange at SSC.

For further information contact:
Philip Ohlsson, Interim Head of Communications SSC, +46 (0)70-721 70 26, [email protected]

This press release first appeared on the website of the Swedish Space Corporation.


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The Spotlight On Iceland’s Capital City Shines Even Brighter With The Arrival Of The Reykjavik EDITION

With typical élan, Ian Schrager has captured the spirit of Iceland and set a new standard of luxury in its capital city. FILM: EDITION Introduces Reykjavik   REYKJAVIK, Iceland, Oct. 21, 2021 /PRNewswire/ -- A flourishing culinary hotspot with cool cafés, a rollicking nightlife and an epic music scene, the spotlight is shining brightly on...

With typical élan, Ian Schrager has captured the spirit of Iceland and set a new standard of luxury in its capital city.

FILM: EDITION Introduces Reykjavik

REYKJAVIK, Iceland, Oct. 21, 2021 /PRNewswire/ — A flourishing culinary hotspot with cool cafés, a rollicking nightlife and an epic music scene, the spotlight is shining brightly on Iceland’s hip capital city and, with typical finesse, the arrival of The Reykjavik EDITION further cements EDITION Hotels’ uncanny ability to land in just the right place at the right time. “Reykjavik is a really cool, young city – perfect for our brand,” says Ian Schrager, the visionary pioneer of the boutique hotel concept, PUBLIC and EDITION creator. “We think this is Reykjavik’s time and we’re right here at the very heart of it and at the perfect time.”

Opening in preview on November 9th, 2021, The Reykjavik EDITION will set a new standard as the city’s first truly luxury hotel experience, combining the best of the Icelandic capital with the personal, intimate and individual experience that the EDITION brand is known for. The result is a vibrant and sophisticated urban hub with 253 rooms, an outstanding line-up of bars, signature restaurant and nightclub and, in true EDITION style, the introduction of a new kind of modern social wellness concept. In the land of hot springs, mineral waters and natural fjords, this creative innovation, visceral emotional experience and authenticity of Ian Schrager, together with Marriott International’s long-standing operational expertise and global reach, results in a totally distinct offering that further boosts Reykjavik’s growing allure as a world class international cosmopolitan destination.

Iceland is an aspirational destination for many, in-between North America and Western Europe – increased flight routes, and its otherworldly landscape, drawing visitors from far and wide. The Reykjavik EDITION is the first true luxury brand entering the market which has facilities and services like no other. First appearing on the map when American chess grandmaster Bobby Fischer won the World Chess Championship in Reykjavik in 1972, Schrager, who was following the event at the time, says he was taken aback by the country’s unspoiled, natural beauty. Indeed, marooned in the North Atlantic Ocean, just beneath the Arctic Circle, Iceland is quite literally in the making, its constantly evolving landscape the result of rumbling volcanoes, bubbling hot springs, erupting geysers and shifting tectonic plates. All of this has resulted in a spectacular, mystical medley of bright green moss-carpeted lava fields, soaring glaciers and rugged mountains sliced by deep, river-cut valleys. “In Iceland, you’re getting to see things you won’t see anywhere else,” says Schrager. “More so than any other place in the world, it’s a real opportunity to get in touch with earth and nature and we’re proud to further expand the EDITION brand in an incredible place with an incredibly exciting hotel that gives you a true sense of place.”

Using his Midas touch, Ian Schrager has carefully conceived, concepted and programmed the hotel to create an alchemy and sense of magic exclusive to this hotel. The Reykjavik EDITION designed in partnership with local architecture firm, T.ark and New York-based studio, Roman and Williams with guidance of ISC (Ian Schrager Company) design, subtly captures the spirit of Reykjavik while avoiding the clichés and remaining firmly rooted in the EDITION brand’s strong sense of refined sophistication and style. On a harborside perch, against glorious mountain views, the hotel is in a flawless location at the heart of the city: adjacent to Harpa, the landmark concert hall and conference center – whose multicolored glass façade was designed by the celebrated Icelandic and Danish artist Olafur Eliasson – and just minutes from Laugavegur, the main shopping street in downtown Reykjavik.

From the outside, The Reykjavik EDITION is a striking addition to this downtown neighborhood. Its ebony façade of shou sugi ban timber has been charred to be blacked using an ancient Japanese technique, and blackened steel frames is a clear nod to Iceland’s dramatic lava landscape. The simple, clean-lines of the building itself have been angled to make the most of the views and its lively harborside setting with a double-entrance lobby accessible either from the pedestrian Harpa plaza, or the Harbor. The latter – in a grand sense of arrival similar to The Times Square EDITION – features a canopy, its underside illuminated by 12,210 glass LED nodes.

As with all EDITION hotels, the lobby is a dynamic, social space that subtly reveals a sense of place and sense of time. Here, basalt stone – or volcanic rock – is prominent, appearing on the flooring, which has been laid with an intricate pattern inspired by Icelandic geometry, and a standout sculptural reception desk. In the lobby center piece, the ISC team have added Icelandic lava stone sculptural totem to balance the warm materials such as tactile saddle leather wrapped around concrete columns – and white oak flooring, ceiling beams and slats, which flank the lobby bar. Lobby bar beverage menu focuses on global wines by the glass selection and classic cocktails with an Icelandic twist. The lobby lounge features a central open-flame fireplace which is the hearth of the space, surrounded by seating and a collection of custom-made furniture in intimate seating groups, such as the Jean-Michel Frank-inspired armchair in white shearling and Pierre Jeanneret-inspired chairs in black velvet. As ever, there is a strong emphasis on warm, indirect lighting, which has been thoughtfully considered to create a soft glow and to illuminate fixed furnishings like the bar and the reception desk and Christian Liaigre white bronze floor lamps to create a likeness to a jewelry box installation.

Inside the entrance of the hotel, ISC has collaborated with local artisans to create a totem sculpture of stacked, columnar basalt slate from the south of Iceland. Rising close to four meters high, the sculpture’s inspiration is found in the traditional Cairns that act as landmarks across Iceland’s countryside. Dramatically lit by both electric and candlelight and surrounded by a basalt bench, the totem is layered with lush black sheepskins, black damask and silk pillows, becoming a gathering place to see and be seen, at the center of the lobby. Right next to this, inspired by the spectacle of the aurora borealis (Northern Lights), ISC has video mapped the Northern Lights and has created an immersive, three dimensional and atmospheric digital artwork of beautiful green and purple dancing waves. Located in the lobby, it stirs a reaction and emotion, similar to witnessing the natural phenomenon in the Icelandic night sky…but in the comfort, warmth, and intimacy of the lobby and lobby fireplace.  We call it Northern Lights on demand.

Accessible from the lobby, the ground floor is also home to Tides, the signature restaurant with private dining room, and café with homemade baked goods, and Tölt, an intimate bar that takes its cues from The London EDITION’s award-winning Punch Room. Tides, which has an outdoor terrace and its own waterfront entrance, is helmed by Gunnar Karl Gíslason – the chef behind Dill, Reykjavik’s much-celebrated New Nordic Michelin-starred restaurant. The rich and sophisticated interiors have been thoughtfully considered for a seamless transition from day to night, featuring floor-to-ceiling windows that, during the day, shed natural light onto fluted concrete columns and oiled ash wood details such as the dramatically lit ceiling panels, various furnishings, and a central hexagonal-shaped bar- over which hangs a custom-made bronze and alabaster chandelier by the renowned French artist, Eric Schmitt. In the mornings, breakfast is a fresh, healthy mix of clean juices, pastries, fruit, cereal and skyr (Icelandic yoghurt) supplemented by an à la carte menu of hot dishes and a selection of open-face sandwiches. For lunch and dinner, Gíslason serves modern Icelandic cuisine, with subtle hints of traditional cooking methods, focused on seasonal local products and the highest quality of global ingredients mainly cooked over an open fire. Alongside an extensive global wine list, expect dishes such as a vertical salad topped with fried oyster mushrooms aged soy sauce and roasted almonds, whole Arctic char stuffed with lemon, dill and garlic butter, baked Atlantic cod, grilled potatoes, mixed herbs and butter and lamb shoulder braised and slowed grilled, pickled onions mint and apples, and for dessert, Tides carrot cake, buttermilk ice-cream, carrot and sea buckthorn jam, with roasted caraway oil. There is also a weekend brunch menu and three nights a week, The Counter, overlooking the theatrical open kitchen, will serve an eight-course tasting menu with wine pairings for up to 10 people. Meanwhile those looking for something more casual can pop into the bakery and café for a coffee and a selection of freshly baked crowberry scones to delicious sourdough or rye bread sandwiches where guests can dine in or take away.

On the opposite side of the lobby, away from prying eyes, Tölt – named after the unique fifth gait Icelandic horses are best known for – is a cozy bar, designed as a hidden sanctuary with three intimate nooks featuring colorful custom rugs with a pattern inspired by traditional Icelandic geometry, teak tambour walls, burnt orange banquettes and pony hair poufs that surround a central fireplace. Outside of the alcoves, the space is cocooned with rich walnut ceiling panels, and flooring, a custom-made walnut chandelier and floor-to-ceiling windows that frame views of Harpa. Behind the green marble-topped bar are backlit aged bronze shelves suspended from the ceiling, which create a warm glow under which to enjoy a menu of cocktails inspired by Icelandic culture using local Icelandic spirits.

Set to be a destination of its own, The Roof is located on the hotel’s 7th floor and offers panoramic mountain, North Atlantic Ocean and old town vistas. A versatile space that can be divided by a glass door for private events allows it to be the best place from which to enjoy the endless bright summer evenings as well as the magical northern lights in the colder months. Floor-to-ceiling glass doors open onto a large wrap-around seasonal outdoor terrace, scattered with comfortable seating and a large fire pit, while the slick all-black interiors create a discreet background that doesn’t detract from the views. Here, the casual vibe is supplemented by a small menu of comfort foods like grilled flatbreads, toasted sandwiches and fresh salads. From this vantage point, it is evident that Ian Schrager designed the hotel based on the views from the property.

Unfolding over the floors under the rooftop, the hotel’s 253 guestrooms and suites have been designed as warm retreats, each with their beds facing floor-to-ceiling windows that frame various views of the surrounding neighborhood. Some come complete with an outdoor terrace, while all of them are an embodiment of the EDITION brand’s approach to modern luxury with a subtle local flavor. A muted palette of ash wood and pale grey oak serves as a warm foundation for a feature formwork concrete wall, Italian custom-made furniture, copper bed light sconces, faux fur rugs, and artwork and accessories from local craftsmen, such as the colorful bed throw by local wool company, Ístex, ceramics by artist Guðbjörg Káradóttir, and in room art by famous Icelandic artists Pall Stefansson and Ragnar Axelsson showcasing Icelandic landscapes, exclusive to EDITION. Meanwhile, the monochrome bathrooms with custom handmade white ceramic tiles made in Italy, are furnished with a white marble vanity, matte black accessories, and fittings alongside custom Le Labo toiletries of EDITION’s exclusive scent. From its prime corner spot on the 6th floor, the one-bedroom Penthouse Suite – with its own private terrace has magnificent harbor, Harpa and mountain views that are further complemented by bright, light-filled elegant interiors of plush custom furnishings in creamy oatmeal tones. The Penthouse Suite is also accessorized with an oversized bathroom with Italian white marble and a central fireplace too.

The Reykjavik EDITION offers modern meeting and event spaces, including flexible studios, a boardroom with natural light, bleach oat-wide plank floorings, and a grand ballroom with pre-function space. The flexible ballroom with floor-to-ceiling glass windows can be divided into two separate spaces, while large glass doors are wide enough to accommodate a car.  Within the ballroom is a hanging alabaster chandelier paired with natural felt overwraps draped around the ballroom.

The lower ground floor is home to Sunset, opening later this year, a cool underground night spot with a state-of-the-art sound system and theatrical lighting that illuminates a dark and edgy black concrete interior with a black cast concrete bar. Sunset can be divided into three spaces with access from the hotel and Harpa square. Along with a killer cocktail menu and an ongoing roster of events, the club will play host to some of the world’s top DJs and performers, earmarking it as the latest unmissable destination in Reykjavik’s thriving nightlife scene. There is also a private entrance for those in need of the utmost discretion. “It would have been a dream to have opened Studio 54 here where darkness lasts 6 months rather than the 8 hours as it does in New York City. It would have been the perfect place for it” says Schrager.

Also, on the lower ground floor is a gym, which is kitted out with state-of-the-art black strength training, weight, and cardio equipment, however, it is the social concept at the Spa that is one of the most unique aspects at the hotel and truly sets The Reykjavik EDITION apart. Alongside three treatment rooms, a hammam, steam room, sauna, and plunge pool which offers hydrotherapy, there is also a central lounge with a spa bar, which by day serves a fresh healthy menu of post-workout Viking shakes, champagnes and, delicious moss vodka infusions alongside snacks like volcano bread with black lava salt. This is best enjoyed in the Geothermal water splash pool together with the 60-minute Sundown Spa treatment, which includes an invigorating body massage and a cool onyx scalp massage.  Located directly opposite Sunset, the Spa is the perfect pre-party pamper space to get you thoroughly prepared for an epic evening of revelry. “A spa and wellness facility with a bar is something we haven’t really seen before,” says Schrager. “But going down there and socializing and drinking and then getting into the thermal waters is, again, a response to being in Iceland. And combining this in a tasteful and elegant way underpins what the EDITION brand is about.”

Along with its legendary service, The Reykjavik EDITION is another innovative addition to the EDITION brand and truly redefines luxury in Iceland’s cool capital city.

The hotel will be open in Preview from November 9th, 2021. An exclusive Preview Rate is available for 25% off Flexible Rates, available for a limited time only. Room rates start from 53,438 ISK per room, per night. Terms and conditions apply.

The Reykjavik EDITION, Austurbakki 2, 101 Reykjavik, Iceland
Reservations: +354 582 0025 | [email protected]
Hotel Inquiries: +354 582 0000 | [email protected]

ABOUT EDITION HOTELS

EDITION Hotels is an unexpected and refreshing collection of individualized, customized, one-of-a-kind hotels which redefines the codes of traditional luxury. Displaying the best of dining and entertainment, services and amenities “all under one roof,” each EDITION property is completely unique, reflecting the best of the cultural and social milieu of its location and of the time.

Conceived by Ian Schrager in a partnership with Marriott International, EDITION combines both the personal and intimate experience that Ian Schrager is known for, with the global reach, operational expertise and scale of Marriott. The authenticity and originality that Ian Schrager brings to this brand coupled with the global reach of Marriott International results in a truly distinct product sets itself apart from anything else currently in the marketplace. Each hotel, with its individuality, authenticity, originality, and unique ethos, reflects the current spirit and zeitgeist of its location. Although all the hotels look completely different from each other, the brand’s unifying aesthetic is in its approach and attitude to the modern lifestyle rather than its appearance. EDITION is about an attitude and the way it makes you feel rather than the way it looks. Sophisticated public spaces, finishes, design and details serve the experience, not drive it. For an underserved market of affluent, culturally savvy and service-savvy guests, the EDITION experience and lifestyle explores the unprecedented intersection and the perfect balance between taste-making design and innovation and consistent, excellent service on a global scale.

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editionhotels.com/reykjavik
marriott.com/rekeb

Facebook: /EDITIONhotels
Facebook: /TheReykjavikEDITION
Twitter: @EDITIONhotels
Instagram: @EDITIONhotels
Instagram:@EDITIONReykjavik

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SOURCE Marriott International, Inc.


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Seachill veteran set to lead Iceland Seafood UK production expansion

Iceland Seafood International has picked up a widely respecte

Iceland Seafood International has picked up a widely respected industry veteran to run production at its new UK plant, sources told Undercurrent News


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Pool of Arctic LNG 2 creditors established, loans to be signed by end of year

MURMANSK. Oct 18 (Interfax) – A pool of creditors for the Arctic LNG 2 project has now been established, Novatek CEO Leonid Mikhelson told reporters. “It has been established. “[It remains] to sign on the dotted line,” Mikhelson said. “We’ll arrange all necessary project financing this year,” he said. Mikhelson also said documents on the

MURMANSK. Oct 18 (Interfax) – A pool of creditors for the Arctic LNG 2 project has now been established, Novatek CEO Leonid Mikhelson told reporters.

“It has been established. “[It remains] to sign on the dotted line,” Mikhelson said. “We’ll arrange all necessary project financing this year,” he said.

Mikhelson also said documents on the possibility of Russian banks increasing financing had been signed.

Mikhelson said on September 3 that he was not seeing help from governments of European states whose companies are participating in the Arctic LNG 2 project so he had arranged with Russian banks to double their contribution to 60% from 30%. He said the decisions by European countries were related to politics.

He said French export-import agency BPI France, as well as Germany’s Hermes had not put financing for Arctic LNG on their agendas in the summer, although both French and German equipment suppliers were involved in the project, and that the company had received no further questions. “I think we won’t be expecting anybody else, they won’t be involved,” Mikhelson said, adding that in his view this had nothing to do with the green agenda prevailing in Europe at present.

“On the whole I think that this is connected not with the green agenda, but with the political agenda. And with the political agenda not of a state, but of the specific leaders of these states,” he said.

External financing for the $21.3 billion Arctic LNG 2 project should come to 9.2 billion euros. The plan was to secure 30% of that from each of China, Japan/Europe and Russia.

This article was originally posted on the website of Interfax.


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AEC and Arctic Parliamentarians sign MOU at the ACA 2021 in Reykjavik

Signing of a Papers on Sustainable Development in the Arctic The Arctic Parliamentarians and the Arctic Economic Council took a new step towards consolidating a partnership working towards sustainable human and economic development in the Arctic, when they signed a Memorandum of Understanding (MOU). On Thursday, October 14th during the Arctic Circle

Signing of a Papers on Sustainable Development in the Arctic

The Arctic Parliamentarians and the Arctic Economic Council took a new step towards consolidating a partnership working towards sustainable human and economic development in the Arctic, when they signed a Memorandum of Understanding (MOU).

On Thursday, October 14th during the Arctic Circle Assembly in Iceland, a panel debate on sustainable economic development in the Arctic was held. Among the panelists were Danish Foreign Minister Jeppe Kofod, Member of Parliament Aaja Chemnitz Larsen (IA), Director of the Arctic Economic Council Mads Qvist Frederiksen, EU Special Envoy for Arctic Affairs Michael Mann and CEO of SÝN Heiðar Guðjónsson.

The focus of the panel debate was sustainable economic development and what it will take to attract foreign investment to the Arctic – especially for Greenland the importance of political stability was discussed. The panel debate was followed by the signing of an understanding paper between the Arctic Parliamentarians and the Arctic Economic Council.

Every two years, the Arctic Parliamentarians hold a conference for parliamentarians from the Arctic countries and the European Parliament. At the most recent conference, Aaja Chemnitz Larsen was elected chairman. Aaja Chemnitz Larsen states the following about the signing:

“It is very positive that we can sign an agreement on sustainable development in the Arctic. Arctic Parliamentarians are representatives of the people of the Arctic, so it is important to us that economically sustainable development in the Arctic directly benefits the people of the Arctic”.

Mads Qvist Frederiksen, director of the Arctic Economic Council, was also very enthusiastic and stated:

“Partnerships in the Arctic are important. Arctic Parliamentarians are a natural partner of the Arctic Economic Council, as we both represent the entire Arctic, in addition, we also have in common that we fight for investment in the region”.

The signed agreement states that the organizations commit to promote sustainable economic development, the promotion of meaningful involvement of indigenous peoples in the Arctic, and the promotion of the implementation of the Arctic Investment Protocol as platforms for cooperation.

“With the signing of this agreement, we have taken a new step towards a collaboration that will secure new investments for the Arctic, for the region as a whole, but also for the inhabitants of the Arctic,” says Aaja Chemnitz Larsen in conclusion.

Facts:

The Arctic Economic Council (AEC) is an independent organization that facilitates Arctic business-to-business activities and responsible economic development through the sharing of best practices. AEC was created by the Arctic Council during the 2013-2015 Canadian chairmanship.

Arctic Parliamentarians represent elected members of the Parliaments of the eight Arctic countries and the European Parliament. The Arctic indigenous peoples are permanent participants in the Committee too. Arctic Parliamentarians meet several times a year to discuss matters of importance to the Arctic people. Every second year the members adopt a statement, which outlines the shared the political focus of the Committee members.

Photo credit on the cover: Arctic Circle

This article was provided by the Arctic Economic Council and the office of Danish Folketinget MP Aaja Chemnitz Larsen.


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Samherji plans $11m expansion to prototype land-based salmon farm

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Iceland land-based salmon firm secures first-phase funding

Landeldi's total new equity for this year is €15.3m,

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Norway, Russia agree big cuts in Barents Sea cod, haddock quotas 

Norway and Russia have agreed to sign

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Arctic zone’s residents plan investments at $3.7 billion

According to the Vice President of the Corporation for Development of the Far East and Arctic, 88% of the residents are small and medium businesses. YAKUTSK, September 29. /TASS/. The amount of announced investments by residents of the Russian Arctic Zone is 277 billion rubles ($3.7 billion), Vice President of the Corporation for Development of

According to the Vice President of the Corporation for Development of the Far East and Arctic, 88% of the residents are small and medium businesses.

YAKUTSK, September 29. /TASS/. The amount of announced investments by residents of the Russian Arctic Zone is 277 billion rubles ($3.7 billion), Vice President of the Corporation for Development of the Far East and Arctic Vitaly Simonenko told the 3rd Northern Sustainable Development Forum.

“The laws, regulating doing business in the Arctic, have been adjusted, and thus the Russian Arctic is now the world’s biggest economic zone of 5 million square kilometers with a competitive set of incentives,” he said. “As of today, 216 companies have become residents of the Russian Arctic Zone, with announced investments of 277 billion rubles.”

According to him, 88% of the residents are small and medium businesses. “The total amount of the public, private financing in the Arctic infrastructure projects and in the Far East makes 6.3 trillion rubles ($86 billion),” he said. “About 2 trillion rubles ($27 billion) <…> have been invested, more than 400 facilities have been commissioned. The businesses will offer about 200,000 jobs, half of which are available already.”

About forum

The 3rd Northern Sustainable Development Forum is underway in Yakutsk. The organizers are the Northern Forum, Yakutia’s government and the North-Eastern Federal University. The first Northern Sustainable Development Forum was organized in Yakutsk in 2019. TASS is the event’s general information partner.

This article was originally posted on the website of TASS, Russian news agency.


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Hot Ideas from a Cold Country: Icelandic Companies Offer Green Energy Solutions

When you think of Iceland, you may imagine remote settings, pristine nature, and erupting volcanoes. But did you know that Iceland is also a champion of renewable energy and sustainable solutions? Iceland has relied on renewable energy for nearly all its electricity and heating needs for more than half a century. The nation’s electricity

When you think of Iceland, you may imagine remote settings, pristine nature, and erupting volcanoes. But did you know that Iceland is also a champion of renewable energy and sustainable solutions? Iceland has relied on renewable energy for nearly all its electricity and heating needs for more than half a century. The nation’s electricity is generated through hydropower and geothermal energy. Iceland’s geothermal power plants produce renewable electricity and make full use of geothermal hot water, steam, cold water, and even carbon dioxide (CO2). Iceland is also exporting its geothermal energy expertise and implementing sustainable energy projects in countries all over the world, including the United States.

Icelanders have a long history of maximizing resources, and their sustainable energy solutions are no exception. In addition to harnessing the power of renewable energy, Icelandic leadership and expertise includes innovations in recycling and the ability to capture, store and transform carbon emissions, protecting the environment from their harmful effects. As part of its commitment to sustainable energy solutions, Iceland is working toward the goal of carbon neutrality by 2040 and is set to become the first fossil fuel–free country in the world by 2050.

Here are several groundbreaking Icelandic companies championing green solutions for a more sustainable future.

  1. Converting to clean geothermal energy

Arctic Green Energy Corporation is a leading developer and operator of green energy projects, with a mission to export Icelandic success and leadership in geothermal and other renewables to markets in Europe and Asia. The impact of Icelandic solutions and expertise abroad is clearly seen in Arctic Green’s operations in China. Through a project with Arctic Green subsidiary Sinopec Green Energy, geothermal district heating in China has already led to tremendously positive environmental impacts as a replacement for coal. To date, Sinopec Green Energy has eliminated more than 11.4 million tons of CO2 emissions.

  1. Tapping geothermal and hydropower sources worldwide

ÍSOR Iceland GeoSurvey provides geothermal and hydropower research and development services to the Icelandic power industry as well as numerous foreign companies and governments all over the world. ISOR hosts the GRO Geothermal Training Programme, which promotes the utilization and sustainable management of reliable, economically viable and environmentally sound geothermal energy resources by training representatives from developing countries.

  1. Innovative ways to tap into wind power

Icewind designs uniquely shaped, robust vertical axis wind turbines that can withstand a variety of challenging environments, with low operation costs. The turbines are designed for telecom, surveillance, and commercial use anywhere you want clean electricity. They are notably weather-resistant, made for extreme conditions and remote areas.

  1. Finding a permanent storage solution for CO2

Carbfix provides a natural and permanent CO2 storage solution by turning CO2 into stone underground in less than two years. The Carbfix mineral storage technology provides an economic and efficient way of permanently removing previously emitted CO2 from the atmosphere, a key component of meeting the world’s climate goals outlined by the Paris Agreement.

  1. Recycling CO2into fuel and chemicals

Carbon Recycling International (CRI) captures CO2 emissions from any polluting source and turns them into methanol — which can then be used as fuel or as a base for other chemical compounds. The company works with industries around the world to develop valuable products from waste gases and renewable energy.

  1. Using geothermal energy to reduce plastic waste

Pure North recycles plastic using geothermal energy. Using hot water rather than chemicals to clean the plastic, they then turn that plastic directly into a product that can be used again locally in a circular fashion. The company envisions a future where all plastic in Iceland is recycled locally to eliminate plastic waste export.

  1. Enabling banking app users to track and reduce their carbon footprint

The latest innovation from the fintech company Meniga is Carbon Insight, a white label carbon calculator and engagement tool that enables people to track their carbon footprint based on their purchases, change their habits to minimize their environmental impact, and take action to offset the remaining footprint.

“As Iceland is one of the world leaders in geothermal energy and other innovative, sustainable solutions, our country is eager to share those solutions to help improve the environment everywhere,” said Einar Hansen Tomasson, head of Energy and Green Solutions at Business Iceland. “The export of Icelandic renewable energy expertise is making, and will continue to make, a positive impact on the climate worldwide.”

Learn more about Iceland’s commitment to sharing green energy expertise and sustainable innovation at GreenByIceland.com.

This article was provided by GreenbyIceland.com


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SSC invests to finalize Spaceport Esrange – first satellite to be launched in 2022

PRESS RELEASE Swedish Space Corporation (SSC) and the Nordic Investment Bank (NIB) have signed a EUR 12 million loan agreement for the finalization of a new spaceport at Esrange Space Center in Kiruna, northern Sweden. The 12-year maturity loan will finance the investments to unlock the use of reusable rockets and

PRESS RELEASE

Swedish Space Corporation (SSC) and the Nordic Investment Bank (NIB) have signed a EUR 12 million loan agreement for the finalization of a new spaceport at Esrange Space Center in Kiruna, northern Sweden. The 12-year maturity loan will finance the investments to unlock the use of reusable rockets and the ability to launch small satellites into orbit as early as 2022, making Esrange the first major orbital launch site in the EU.

The 12 MEUR loan is part of an extensive modernization of Esrange that has been ongoing since 2015 – a total investment of around 50 MEUR. The loan will finance the completion of the construction of a new spaceport capability, aiming at a first satellite launch in 2022.

“This important milestone means that Sweden will become a launching state, offering the most modern ground technology possible to European and international satellite owners. This will be of great importance for future research, technology development and expanded international collaboration – all to support a sustainable development of life on Earth”, says Stefan Gardefjord, CEO of SSC.

“We are happy to contribute to our member country’s efforts to become a launching state. By expanding service offerings in the growing satellite sector, the project not only increases Sweden’s competitiveness, but also provides new capabilities for the whole European aerospace industry”, says André Küüsvek, NIB President and CEO.

The project entails construction work for the new launch site, including integration halls for rockets and satellites, expansion of planned fuel plants, launch pads and surrounding technical ground systems as well as development of technical support systems in Esrange’s operational communication center.

“With more than 50 years of experience from launching rockets and balloons, Esrange Space Center is already one of the most active and versatile launch sites in the world. And with the new spaceport capability it will most likely become the first launch site on European mainland to provide a platform for space companies to develop their next generation rocket technologies and launch their satellites”, says Philip Påhlsson, Project Manager New Esrange at SSC.

For further information contact:
Philip Ohlsson, Interim Head of Communications SSC, +46 (0)70-721 70 26, [email protected]

This press release first appeared on the website of the Swedish Space Corporation.


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Marealis – Turning Marine By-Products into Healthcare Solutions

A locally-operated biotech company in Tromsø, Norway, partnering with multiple research institutions to provide high-skilled jobs. Their product, PreCardix®, is a certified and proven blood-pressure treatment made from refined marine by-products. This profile is part of our ongoing Sustainable Arctic Opportunities Series, in which we partnered with the Arctic Economic Council to

A locally-operated biotech company in Tromsø, Norway, partnering with multiple research institutions to provide high-skilled jobs. Their product, PreCardix®, is a certified and proven blood-pressure treatment made from refined marine by-products.

This profile is part of our ongoing Sustainable Arctic Opportunities Series, in which we partnered with the Arctic Economic Council to profile businesses and projects in the Arctic which represent active or recent investment opportunities, while demonstrating a strong commitment to sustainability. These profiles are just a sample of the vast spectrum of innovative and responsible businesses and organizations operating in the Arctic region. By presenting these businesses and letting them explain in their own words how they contribute to the region, we hope to show the breadth of opportunity and the enormous potential of the Arctic where, with a deep commitment to sustainability and respect for the environment, businesses and development projects can contribute positively to the communities that live there and the stewardship of this most spectacular area of our planet.

Key Information:

Organization name: Marealis AS

Company headquarters: Tromsø, Norway

Sector/Industry: Biotechnology – Consumer Goods

Organization type: Private

Project name: Sustainable Blue Value Creation

Project location: Kårvikhamn / Tromsø, Norway

Markets served: Natural health product markets in North America and eventually worldwide;

  • Nutraceutical market worldwide
  • Food and ingredient market worldwide

UN Sustainable Development Goals fulfilled:

  • #3 Ensuring the health and well-being of individuals at all ages,
  • #4 Ensuring inclusive and equitable quality education and promoting lifelong learning opportunities;
  • #8 Promoting sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all;
  • #9 Building resilient infrastructure, promoting inclusive and sustainable industrialization, and fostering innovation;
  • #11 Making cities and human settlements inclusive, safe, resilient, and sustainable;
  • #12 Ensuring sustainable consumption and production patterns; and
  • #14 Conserving and sustainably using the oceans, seas, and marine resources for sustainable development.

Project ownership/key stakeholders: Marealis AS

Project website: www.precardix.com/about

The proposed Marealis Biopark
Company description:

Marealis AS is a B-Corp certified Norwegian biotech company committed to developing, producing, and commercializing sustainable, high quality products from marine by-products. Marealis converts cold-water prawn shells (Pandalus borealis), historically a waste by-product, into a clinically proven bioactive marine peptide concentrate with significant blood pressure lowering attributes. Building on parent company Stella Polaris’ industrial competence and after more than 50 years of industrial experience, Marealis will leverage its unique competence within marine by-product R&D and innovation by creating new products from various marine species and establishing an Innovation Centre for Marine by-products. The bioprocess facility will contain production lines for marine byproducts like shrimp shells and fish skin/heads into refined bioactive peptide concentrates, and high quality collagen and flavor ingredients. The facility aims to operate in close cooperation with educational institutions and other industries to share knowledge and increase value creation.

Project description:

Marealis AS seeks funding to support sustainable marine biotechnology innovation in the Arctic region. Over the next five years, four Marealis projects will contribute to the UN’s sustainable development goals and growth in the Arctic region. These include: commercialization of our product and brand PreCardix® in North America; market expansion of PreCardix® in Europe, Asia and Africa; new product innovation; and the establishment of a state-of-the-art innovation park and bio-processing production facility in the Arctic region. The above initiatives directly impact global health and well-being, quality education, decent work, economic growth, industry, innovation and infrastructure, sustainable cities and communities, responsible consumption and production, and life below water.

Financials:

Annual project revenue: Projected 2021: US$500k / Anticipated 2026: US$5 -10m

Turnover: Projected 2021: US$500k / Anticipated 2026: US$5-10m

Total assets in Arctic: Current assets: US$500k / Projected: US$15m

Total staff in Arctic: Current staff: 4 / Projected staff: 20-25

Production/outputs:

  • Current production of bioactive marine peptide concentrate: 3500 kg
  • Current production of shrimp meal: 200,000 kg
  • Projected production output from hydrolysis process: 200,000 kg
  • Projected output from other production: 400,000 kg

Project timeline: 5 years

Total Project Cost: US$25-40m

Project funding sources: Private and public

Investment needed/received: US$20-30m

Funding method desired: Equity

Project status: Proposed

Investment spending breakdown:

  • Commercialization of our product and brand PreCardix® in North America (US$5-10m)
  • Market expansion of PreCardix® in Europe, Asia and Africa (US$5-10m)
  • New product innovation (US$3-5m)
  • Establishment of a state-of-the-art innovation park and bio-processing production facility in the Arctic region (US$10-15m)

Interview Questions:

What are your project’s biggest positive contributions to the Arctic, at the regional or local level?

Marealis will contribute to achieving several UN sustainable development goals in the arctic region, specifically quality education, decent work, economic growth, industry, innovation and infrastructure, sustainable cities and communities, responsible consumption and production, and life below water. Marealis diverts 100% of its marine by-products from prawn production into commercially viable ingredients and products. The establishment of a state-of-the-art innovation park and bioprocessing production facility allows Marealis to scale and evolve its innovation and efficiency. The facility will also create jobs, growth, contribute to responsible and sustainable fishing practices and consumption, and provide internship and research partnership opportunities for students. Investment in PreCardix® will help Marealis grow revenue and contribute to the viability of the new production facility.

How does your project help develop human capital in the communities where it’s located?

Marealis AS intends to establish an Arctic-based state-of-the-art facility for bioprocessing to support its business strategy. This will help to develop human capital as the facility will attract highly-educated professionals across many disciplines including R&D and biotechnology. The facility will, therefore, contribute to significant innovation, technology, and job opportunities. Individuals would then have an environment where they can acquire new competencies, develop skills and apply innovative ideas. The facility will be the first industrial facility for bio-processing in the Arctic region of Norway .

How does your project balance economic and social goals with environmental protection?

The foundation of the Marealis AS business strategy is to leverage underutilized resources (marine by-products) from the seafood industry to create high-value products and brands with specific health benefits. Marealis is already a leader in sustainable marine by-product sourcing and helps solve global health issues such as hypertension through its products. Marealis is one of only 4,000 certified B-Corporations globally. B-corporations must pass a rigorous certification process based on the world’s highest social and environmental performance standards and accountability standards. The Stella Polaris Group (including Marealis) has been working with UN Global Compact in a program to optimize sustainability, and has initiated a collaboration with Seacirc to pilot a reporting system for sustainability and environmental optimization. Marealis also plans to partner with the Arctic University of Norway and governmental institutions to support students and research projects within fishery, science and biotech in Norway. Marealis will continue to leverage its unique knowledge and expertise gained through the development and commercialization of PreCardix® to become a leading innovator in unique, groundbreaking products and brands utilizing marine by-products in the Arctic region of Norway.

How have you partnered with the research community in measuring project processes and impacts?

Marealis worked closely with governmental research institutions and universities to develop its unique and groundbreaking blood pressure-lowering peptide concentrate. Both the UiT Arctic University of Norway and Nofima – the Norwegian Institution of Fishery and Science hold strong academic and professional competence within the marine industry and R&D. These partnerships were fundamental to Marealis historically and remain essential for the future. When establishing the innovation park, Marealis plans to partner with the Arctic University of Norway and governmental institutions to provide learning and collaboration opportunities for students and research projects within fishery, science and biotech in Norway. Marealis will continue to leverage its unique knowledge and expertise gained through the development and commercialization of PreCardix® to become a leading innovator in unique, groundbreaking products and brands utilizing marine by-products in the Arctic region of Norway.

How have you entered into public/private partnerships with the local community and/or government?

Marealis partnered with governmental research institutions and local universities to develop its unique and groundbreaking blood pressure-lowering peptide concentrate. Both the Arctic University of Norway, which has played an advisory role throughout the development of the peptide concentrate, and the Norwegian Institution of Fishery and Science, who presented the scientific idea to help us recreate the findings, ensure reproducibility, and scale it to production, hold strong academic and professional competence within the marine industry and R&D. These relationships played a significant role for Marealis historically and will remain important in the future. Marealis continues to leverage its unique competence within R&D gained from the development of PreCardix® to support future R&D and product development with other marine species. Marealis and parent company Stella Polaris AS have formed close and valuable collaborations with other local companies in the seafood industry, such as Brødrene Karlsen AS and Wilsgård AS, which hold large quantities of products from cod fish and salmon.

Primary Contact:

Name:

Andreas Semmingsen

Phone:

+47 920 92 504

Position:

CEO

 

Do you know an Arctic business that would be a good candidate for the Sustainable Arctic Opportunities Series? Contact us at [email protected]

This profile was assembled for the Arctic Economic Council by the Polar Research and Policy Initiative, with funds provided by the Nordic Investment Bank.


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Tłıchǫ Highway – Critical Infrastructure Connecting the Communities of the Northwest Territories

An indigenous-operated highway project to provide access from Highway 3 to the community of Whatì in the Northwest Territories, connecting the Canadian Arctic to the main national road system. This profile is part of our ongoing Sustainable Arctic Opportunities Series, in which we partnered with the Arctic Economic Council to profile businesses and projects

An indigenous-operated highway project to provide access from Highway 3 to the community of Whatì in the Northwest Territories, connecting the Canadian Arctic to the main national road system.

This profile is part of our ongoing Sustainable Arctic Opportunities Series, in which we partnered with the Arctic Economic Council to profile businesses and projects in the Arctic which represent active or recent investment opportunities, while demonstrating a strong commitment to sustainability. These profiles are just a sample of the vast spectrum of innovative and responsible businesses and organizations operating in the Arctic region. By presenting these businesses and letting them explain in their own words how they contribute to the region, we hope to show the breadth of opportunity and the enormous potential of the Arctic where, with a deep commitment to sustainability and respect for the environment, businesses and development projects can contribute positively to the communities that live there and the stewardship of this most spectacular area of our planet.

Key Information:

Organization name: Government of the Northwest Territories, Department of Infrastructure

Company headquarters: Yellowknife, NT, Canada

Sector/Industry: Infrastructure – Roads

Organization type: Public-private partnership

Project name: Tłıchǫ Highway (HWY 9), formerly Tłıchǫ All-Season Road

Project location: From NWT Hwy 3, km 196; to Community of Whatì

SDGs fulfilled and in what ways:

  • #3 Good health and wellbeing: ensuring the health and well-being of individuals at all ages,
  • #8 Decent work and economic growth: providing employment, decent work and sustainable economic growth,
  • #9 Industry, innovation and infrastructure: building resilient infrastructure to promote inclusive and sustainable industrialization,
  • #13 Climate action: taking urgent action to combat climate change

Project ownership/key stakeholders: The Project Owner is the Government of the Northwest Territories. PPP Canada, GNWT, Tłıchǫ Investment Corporation (TIC), North Star Infrastructure (NSI), and Kiewit are the primary stakeholders.

Project website: http://www.inf.gov.nt.ca/TlichoHighway

 

Company description:

The Government of the Northwest Territories (GNWT) employs approximately 4,800 employees who provide programs and various services for close to 44,000 residents.

Project description:

Tłıchǫ Highway is a two-lane, 97-kilometre gravel all-season road, providing a year-round connection from Whatìto Highway 3. The road top width is 8.5 metres including each lane of 3.75 metres width and another 0.5 metres width of shoulders on either side. There are four major structural bridges, two major structural culverts and more than one hundred drainage pipe culverts. This road is designed to RLU80 standards with a design speed of 80km/h for Rural Local undivided (Low Volume) and a posted speed limit of 70 km/h. This design standard is for year-round use by commercial and private vehicles according to the size and weight limitations outlined by NWT regulations. The highway project will increase access for the winter roads to the communities of Gamètì and Wekweètì.

Financials:

Total staff in Sub-Arctic:

At peak construction, 276 workers were employed, 128 NWT/Tłıchǫ residents, including 31 female employees.

Currently there are 115 employees; 46 are NWT/Tłıchǫ residents, including 16 female employees.

During the post construction Operation and Maintenance (next 25 years) phase, NSI will provide 8 to 11 NWT/Tłıchǫ residents with employment.

Production/outputs:

Two-lane all-season, gravel highway between NWT Highway 3 and the Community of Whatì

Project timeline:

  • Substantial Completion Nov 30, 2021 and final completion Nov 30, 2022, (O&M through to 2047).
  • Substantial Completion date– 30/11/2021
  • Final completion date – 30/11/2022
  • O&M through to 2047

Total Project Cost: CA$411.8M (US$307.084m)

Project funding sources: PPP Canada 25% and Government of NWT 75%

Investment needed/received: 25% from PPP Canada

Funding method desired : Equity

Project status: Funded, Under Construction. Road opening to public November 2021

Other significant metrics: 3 years of Construction and 25 years of O & M for total project cost.

Investment spending breakdown:

The capital cost of the project is CA$200m (US$149m). The value of the contract with North Star Infrastructure over the 28 years is CA$411.8m (US$307m), comprised of the following:

  • GNWT Substantial Completion payment: CA$110.4m (US$82.3m)
  • Service Payment – Capital Portion: CA$148.5 million (US$110.7m)
  • Service Payment – OMR Portion: $152.9 million (US$114m)

The Tłı̨chǫ Government is an equity partner (20%) in North Star Infrastructure GP

Interview Questions:

What are your project’s biggest positive contributions to the Arctic, at the regional or local level?

The project’s biggest contribution to the Arctic is its Infrastructure development. This has a very important role in the longevity and health of local communities. Firstly, the Tłı̨chǫ Highway project will essentially improve the ease of access to various health care services for local residents. Secondly, there will be improved access to goods and services that will reduce the cost of living in the region. And thirdly, the project brings support concerning new social and employment opportunities while helping attract further interest from industry in the exploration and development of natural resources.

How does your project help develop human capital in the communities where it’s located?

Providing employment and economic development opportunities ensures communities remain healthy and vibrant. North Star Infrastructure GP has signed up to a detailed training plan that requires them to employ and train Tłı̨chǫ Citizens into various roles through the construction, operations, and maintenance periods – with particular attention towards creating opportunities for women and youth. This will ensure that significant knowledge and capacity transfer occurs, building on the skills that already exist within the Tłı̨chǫ Communities. North Star Infrastructure GP is contractually obligated to ensure Tłı̨chǫ, Northern and Local Businesses deliver a meaningful proportion of the project, and achievement of these obligations will be carefully monitored by the GNWT. The employment and training opportunities associated with the project allows residents to better support themselves and supports the development of a strong northern workforce.

How have you ensured inclusive and equitable consultations with local/indigenous communities?

The Tłı̨chǫ Highway project ensures inclusive and equitable consultations with the local communities through various collaborations. For example, as part of the project, North Star Infrastructure (NSI) has set up a Community Coordination Lead (CCL) who works directly with the local communities to solicit their inputs and needs while addressing grievances. Furthermore, the CCL’s responsibility includes coordinating workshops and training to develop the necessary skills of residents to get them ready for working life.

The Government of the Northwest Territories has been working collaboratively with the Tłı̨chǫ Government (TG) to advance the Tłı̨chǫ All-Season Road project, through the environmental assessment process, procurement and now construction. Since 2012, the Tłı̨chǫ Investment Corporation (TIC), the business wing of TG, has had an equity share in the project.

How does your project balance economic and social goals with environmental protection?

The Tłı̨chǫ Highway project has undergone an environmental assessment which was required under the Mackenzie Valley Resource Management Act (MVRMA). This assessment determined if the project was likely to have significant adverse impacts on the environment or be of public concern. The project was approved by the board and the Tłı̨chǫ Government has separately concurred with the board’s report. The report, conclusively, shows that the project balances economic and social goals while ensuring that the environment remains protected.

What specific mitigation measures, technological or otherwise, has your project put in place to safeguard the local environment?

The Tłı̨chǫ Highway project has put in place significant measures to ensure environmental protection and restrict potential future hazards. The current mitigation measures associated with the project to safeguard the environment include plans associated with permafrost, wildlife, caribou habitats, fish habitats and sediment erosion.

Primary Contact:

Name:

Public Affairs and Communications

Phone:

867-767-9088 ext. 31166

Position:

N/A

Do you know an Arctic business that would be a good candidate for the Sustainable Arctic Opportunities Series? Contact us at [email protected]

This profile was assembled for the Arctic Economic Council by the Polar Research and Policy Initiative, with funds provided by the Nordic Investment Bank.


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Greenland studying ways to combat ghost gear

A single ship working 24/7, three months a year collecting

A single ship working 24/7, three months a year collecting the gear for five years could save Greenland $4.6 million, the amount the industry loses to the problem annually


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Greenland Ruby – Traceable Gemstones Making Communities Shine

A mining operation in Greenland producing sustainably sourced, traceable rubies, and facilitating the funding of local initiatives and climate research in the Arctic. Key Information: Organization name: Greenland Ruby A/S Company headquarters: Nuuk, Greenland Sector/Industry: Mining – Precious Gems Organization type: Private Enterprise Project location: Aappaluttoq

A mining operation in Greenland producing sustainably sourced, traceable rubies, and facilitating the funding of local initiatives and climate research in the Arctic.

Key Information:

Organization name: Greenland Ruby A/S

Company headquarters: Nuuk, Greenland

Sector/Industry: Mining – Precious Gems

Organization type: Private Enterprise

Project location: Aappaluttoq Ruby Mine, Fiskenæsset, Greenland

Markets served: The global market for responsibly sourced gemstones.

Project ownership/key stakeholders: Project Aurora: Greenland Ruby received an US$18 million working capital injection from the Nebari Natural Resources Credit Fund. LNS took over from True North Gems.

Company website: www.greenlandruby.gl

 

Company description:

Greenland Ruby is an active ruby and pink sapphire mining operation, established in October 2016. Greenland Ruby is part of LNS Group, a Norwegian, family-owned company. Greenland Ruby Is a member of the International Colored Gemstone Association (ICA) CIBJO (World Jewellery Confederation) and the AGTA (American Gem Trade Association). The company is also the first colored gemstone mining member of the Responsible Jewelry Council. The sales and marketing office is located in New York City, and Paris respectively, with additional offices in Miami, Bangkok, Copenhagen and Mo I Rana in Norway. 

Project description:

The current mine at Aappaluttoq is well-funded, but additional funding is sought for the exploitation of the adjacent anorthosite deposit (most probably the largest in the world) of which Greenland Ruby holds the license as well. Mining will be done with low-intensity blasting techniques that are common in the diamond mining industry. The Aappaluttoq Project consists of mining operations and the processing of ruby-bearing ore to ruby concentrate. Greenland Ruby’s mining yield is processed at its ultra-modern, state-of-the-art processing plant adjacent to the mine. Sorting and cleaning of ruby concentrate is done in Nuuk. Construction began in 2015 at a capital cost of US$25 million and the ruby ​​mine officially opened in 2017. The Greenland Ruby mine site is accessed via a small port for equipment and a heliport for employees and provisions.

Financials:

Total assets in Arctic: US$100m

Total staff in Arctic: 55

Production/outputs: 2,600kg annually of sorted rough, translating to almost 1 million carats of polished gemstones.

Project timeline: 2021-2031

Funding method desired: Debt and equity

Project funding sources: Private

Project status: Proposed

Total Project Cost: Approximately US$15 million per year to operate the ruby mine.

Investment spending breakdown: Updated exploration reports, geological studies, confirmation drilling, pilot plant and starting production costs.

 

Interview Questions:

What are your project’s biggest positive contributions to the Arctic, at the regional or local level?

Greenland Ruby initiated the PinkPolarBear Foundation, whereby a percentage of proceeds from the sale of each gem goes to the Foundation. The foundation supports international polar research in all disciplines, particularly programs focused on understanding the mechanisms driving climate change in the arctic, as well as sponsoring research, cultural projects and education in Greenland. The PinkPolarBear Foundation’s first project is to sponsor the Amitsialak Sewing Workshop in Nuuk.

What measures have you taken to increase transparency and guard against corruption in your project’s financial and reporting activities?

Greenland Ruby has a state-of-the-art administration and reporting system. We are monitored by our parent company, Norwegian-owned LNS Group, and report to the Government of Greenland, as per our mining license. We are also proud to be the very first colored gem miner to join the Responsible Jewellery Council. Greenland Ruby is currently undergoing a third-party, independent audit of the supply chain and of the responsible practices as required for its membership in RJC.Our mine-to-market tracking system also makes us unique. The PinkPolarbear Foundation has its own board and is monitored by Greenland Ruby.

How does your project balance economic and social goals with environmental protection?

The Aappaluttoq mining operation has a neutral impact on the climate. There is no residual, visual or environmental impact, and when we close the operation, the waterway (Ukkaata Qaava, which has been determined not to have any fish or other larger aquatic life). will be refilled, all equipment and buildings will be removed, and the site will be fully restored to its natural wilderness. We also have a CO2 neutral policy.Human rights, labor, environmental, mining, and product disclosure practices are respected at every project stage. The company is committed to achieving the 17 SDG’s (Sustainable Development Goals) as set out by the United Nations.

How does your project integrate long-term sustainability, especially in the local community, into its design?

Greenland Ruby employs local Greenlandic staff, provides training and sponsors local projects, education and exchange programs. All resources are from local vendors. The company also pays royalties on the values extracted, which goes to Greenland’s authorities.

What resources or organization have you relied on when crafting your project’s sustainability strategy?

Greenland Ruby has partnered with the research community to measure project process and impacts, including the International Polar Foundation in Brussels, the Greenland Institute of Natural Resources, and the Greenland Climate Research Center. In addition, Greenland Ruby is dedicated to making a difference in the lives of Greenlandic people through the PinkPolarBear Foundation, along with four other Founding Members. Ultimately, by driving large-scale change in the behavior of humans we can foster an improvement in the habitat of other species and other life-forms.Greenland Ruby has, amongst others, signed an agreement with Greenland’s self-rule authorities that constitutes a framework for how the company is to act, both towards authorities as well as the local population.

Primary Contact:

Name: Erik Jens

Phone: 9174121389

Position: Senior Advisor

 

This profile is part of our ongoing Sustainable Arctic Opportunities Series, in which we partnered with the Arctic Economic Council to profile businesses and projects in the Arctic which represent active or recent investment opportunities, while demonstrating a strong commitment to sustainability. These profiles are just a sample of the vast spectrum of innovative and responsible businesses and organizations operating in the Arctic region. By presenting these businesses and letting them explain in their own words how they contribute to the region, we hope to show the breadth of opportunity and the enormous potential of the Arctic where, with a deep commitment to sustainability and respect for the environment, businesses and development projects can contribute positively to the communities that live there and the stewardship of this most spectacular area of our planet.

Do you know an Arctic business that would be a good candidate for the Sustainable Arctic Opportunities Series? Contact us at [email protected]

This profile was assembled for the Arctic Economic Council by the Polar Research and Policy Initiative, with funds provided by the Nordic Investment Bank.


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Kerecis – The Healing Power of Fish Skins

For as long as Icelanders have been fishing, fish skins have been a byproduct of little value. That is, until recently, when Kerecis, a company in Iceland’s Westfjords region, transformed discarded cod skins into a valuable medical device to heal human wounds.   Kerecis founder and CEO Guðmundur Fertram Sigurjónsson got the idea of using

For as long as Icelanders have been fishing, fish skins have been a byproduct of little value. That is, until recently, when Kerecis, a company in Iceland’s Westfjords region, transformed discarded cod skins into a valuable medical device to heal human wounds.  

Kerecis founder and CEO Guðmundur Fertram Sigurjónsson got the idea of using cod skin for wound care and tissue regeneration in 2010. His diverse background in engineering, medical devices, and technology led him to consider alternative approaches to the commonly used skin grafts from the patients themselves or other mammals.

Fertram knew that cod is rich in Omega-3 fatty acids—which help stimulate cell growth—and that Iceland had plenty of cod. After years of development and testing, Kerecis received clearance from the U.S. Food and Drug Administration and the EU to use cod skins to heal wounds. The company has conducted large-scale, comparative studies that confirmed the healing potential of the cod skin compared to alternate treatments.

When grafted onto damaged human tissue, the fish skin recruits the body’s own cells, supporting its own ability to regenerate.

The cod skins offer several advantages over many traditional wound treatments. Because there is no risk of a viral disease transfer from Atlantic cod to people, the fish skin needs only mild processing for medical use and maintains its natural structure and elements, including its Omega3 fatty acids. The fish skin is sustainably sourced, cost-efficient to produce, and free of the religious and cultural barriers associated with some other skin graft products.

The company’s flagship product, Kerecis Omega3 Wound, has been used to successfully treat tens of thousands of patients worldwide. In the process, the use of fish skin grafts has prevented thousands of amputations. The company is working closely with the U.S. Department of Defense, as its Omega3-rich fish tissue can be used in the treatment of blast injuries and gun and burn wounds. Kerecis is also developing other products for surgical use in, for example, oral surgery, body-wall reconstruction, hernia repair, breast reconstruction, brain surgery, and obesity stomach reduction.

Kerecis has emerged as an internationally recognized innovator in biotechnology with operations in Iceland, the United States, Switzerland, and Germany, and sales in multiple international markets. Now with more than 150 employees worldwide, Kerecis is deeply rooted in Iceland. The Kerecis fish skin derives from sustainable fish stock caught in Icelandic waters. Manufacturing and quality control takes place in Ísafjörður, and R&D and corporate functions are in Reykjavík.

Kerecis was founded with the simple objective of harnessing nature’s own remedies to extend life. Its manufacturing facility uses 100% renewable energy. Today Kerecis is proving to be a pioneer as it transforms wound care in a sustainable way through its waste-to-value model.

This article was first published by Green by Iceland.


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Saltverk – A Sprinkle of Sustainability from Iceland

As you travel through Iceland’s Westfjords, it seems as though almost every turn presents awe-inspiring scenery. The sheer drop-off of the roads to the ocean, the mountain passes, and deep fjords make for a stunning drive, albeit with some white-knuckle moments! This is not exactly where you would expect there to be a gourmet salt

As you travel through Iceland’s Westfjords, it seems as though almost every turn presents awe-inspiring scenery. The sheer drop-off of the roads to the ocean, the mountain passes, and deep fjords make for a stunning drive, albeit with some white-knuckle moments! This is not exactly where you would expect there to be a gourmet salt producer. 

Saltverk is perched at the tip of the thin Reykjanes Peninsula between two fjords in an unassuming building. However, the billowing steam is a giveaway. Inside, seawater is slowly being evaporated using geothermal energy that is found just steps away, outside. Their entire process of production is sustainable and has no carbon footprint.

While Saltverk’s diverse offering reflects today’s gourmet tastes, the history of producing sea salt in this area dates back to the 1770s. The Danish king established salt making in Reykjanes that operated until the devastating Laki Crater eruption of 1783. At the time, salt was as precious as gold, and salt makers were forbidden from marrying—let alone have children—so they could concentrate on their valuable work. Salt was essential for preserving food—especially fish—and crucial for this remote Danish colony to transport valuable commodities back to mainland European markets.

When Björn Steinar Jónsson was wrapping up his engineering degree in Denmark, he knew he wanted to return to Iceland to focus on sustainability work. In 2012 he founded Saltverk, inspired by the quality ingredients used in the food scene in Copenhagen. He knew about the geothermal activity in the area and was familiar with the clean waters of the remote inner Ísafjörður fjord.

Saltverk is Iceland’s only salt producer. Its operations are fully sustainable with zero carbon emissions, thanks to the geothermal resources in the area. 

Besides using geothermal energy and stainless-steel equipment, much of Saltverk’s processes are strikingly similar to those used to produce sea salt a thousand years ago. The work is labor and energy-intensive. A tremendous amount of water needs to be boiled to produce the flakey, mineral-rich salts. Seawater is naturally 3.5% salt. Saltverk pumps in the nearby seawater and slowly evaporates it using geothermal heat until it reaches 20% salinity. The salty brine is boiled until the salt crystallizes, and the flakes fall to the bottom of the pan. The process requires constant stirring with a long-handled stainless steel sieve shovel that collects the flakes but lets the water pass through. The salt flakes are scooped out and placed in large trays to dry in ovens for 12 hours. The entire process takes seven to ten days, with each harvest yielding between 100-200 kg (220–440 lbs.) of salt.

While this handmade salt delicacy commands a price premium—up to 30 times more expensive than plain table salt—you know you are tasting something special. In stark contrast to plain salts, Saltverk’s sea salt is minimally processed, and it does not hide its complex mineral taste born from the waters of the North Atlantic. Chefs throughout Europe and North America embrace Saltverk’s products to enhance the taste and presentation of their meals. Along with their traditional flake salt, the company offers seasoned salts that add unique flavor and visual appeal, such as seaweed salt, wild Icelandic thyme salt, birch smoked salt, and black lava salt that are very popular souvenirs.

While salt making in Iceland will never be a large industry, the future of sustainable salt making in remote Iceland looks bright. Thankfully the lives of salt makers are not as austere as 300 years ago!

SALTVERK’S WEBSITE

This article was originally published by Green by Iceland.


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Matorka – Land Ho! The Future of Sustainable Seafood

When it comes to sustainable fisheries, the list of countries that have managed their stocks as well as Iceland is short. In the 1970s, Iceland figured out that to prevent the collapse of its cod fisheries—and the basis of its economy—its fishing future required strict management. To this day, Iceland continues to manage a

When it comes to sustainable fisheries, the list of countries that have managed their stocks as well as Iceland is short. In the 1970s, Iceland figured out that to prevent the collapse of its cod fisheries—and the basis of its economy—its fishing future required strict management.

To this day, Iceland continues to manage a wide range of fish stocks found in its waters through stringent monitoring and science-based catch quotas. Organizations such as Iceland Responsible Fisheries Management (IRFM) ensure the future of Icelandic fishing through a certification chain that guarantees suppliers that the fish originates from IRFM certified fisheries. Additionally, fish processors and other stakeholders constantly look for approaches to use 100% of each fish for food, pharmaceuticals, nutrition, and other supplements. What was not predicted in the 1970s was the role of land-based aquaculture in Iceland’s push for even more sustainable fishing.

Land-based fish farming has been practiced for thousands of years around the world. Icelandic company Matorka has transformed the process into the 21st century using renewable energy, thoughtful designs, and high-tech monitoring systems. Matorka is a clever combination of the Icelandic words “mat,” which means food, and “orka,” which means energy—food energy. The name is suitable. The company is transforming Iceland’s geothermal energy and abundant clean water into the perfect habitat to grow fish.

Founded in 2010, Matorka’s mission is to produce Aquaculture Stewardship Council (ASC) and global Good Aquaculture Practice (GAP) certified premium Arctic char and steelhead. From egg to final harvest, the company monitors and controls all steps of a fish’s lifecycle. Since the fish grow in land-based tanks, the water temperature and oxygenation can be optimally kept. Unlike sea-based aquaculture, the waters are free of parasites and pathogens.

Best of all, the fish need no antibiotics, chemicals, or hormones, and their feed is all-natural and sustainable.

Matorka is understandably proud of maintaining a 1:1.2 Feed Conversion Ratio (FCR) for their fish. This means, on average, it takes 1 unit of mass of feed (dry material) for an animal to gain 1.2 units of mass of live weight. To provide a reference, the average FCR for beef cattle is 6:1 and 2.8:1 for poultry.

While land-based aquaculture currently represents a mere fraction of wild-caught fish, the process and technologies are evolving rapidly with tremendous potential to scale up operations. Matorka now harvests about 1,500 metric tons of Arctic charr and steelhead per year and aims to quadruple its capacity. Large-scale land-based aquaculture in Iceland is particularly attractive because it has plentiful water and renewable power to offset the industry’s energy intensiveness. Matorka has implemented several design elements to increase efficiency that would work anywhere. The entire facility is built on a modular concept. Each module consists of a raceway at the top with three grow-out tanks. The tanks are stacked with 1.2 meters (4 ft) between each so that the water is gravity-fed between them. Because the system is land-based, the entire process of producing fish is more environmentally sensitive. Ocean-based aquaculture systems cannot guarantee that fish will not escape and crossbreed or pass on a disease to native species.

Furthermore, these companies do not consider the tremendous amounts of fish waste that collects in the fjords and bays. Even though the waste dissipates, it can pollute the ocean floors long-term. To produce the highest quality fish, Matorka must account for these factors and have created a cleaner environment than any ocean today through constant filtration and monitoring. Taking it one step further, Matorka offsets any added carbon emissions from their facility by planting trees in Iceland.

While many species are difficult to grow in land-based tanks—such as cod, Matorka’s facility represents the best bet for the most sustainable fish consumption. The company is constantly seeking ways to improve and produce new fish species in land-based contained systems, including salmon. Globally, protein demand is increasing. There will need to be a transformational shift in food production across all sectors to meet these needs. Moreover, consumers are demanding sustainability and full traceability of their food, particularly seafood. Matorka is uniquely positioned to answer these consumer needs and to provide the healthiest product possible. Land-based fish farming may lack the romance of long-line fishing, but there are undoubtedly many fish stocks that could use a reprieve from the world’s overfished oceans.

This article was originally published by Green by Iceland.


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Bulk Fiber Networks and WFN Strategies, LLC Announce Commencement of Leif Erikson Cable Project

OSLO, Norway & STERLING, Va.--(BUSINESS WIRE)--#LeifErikson--Bulk Fiber Networks, a leading builder and operator of fiber network infrastructure in the Nordics, and WFN Strategies, a leading submarine cable planning, engineering, and implementation firm, together announce commencement of a feasibili

OSLO, Norway & STERLING, Va.–(BUSINESS WIRE)–#LeifErikson–Bulk Fiber Networks, a leading builder and operator of fiber network infrastructure in the Nordics, and WFN Strategies, a leading submarine cable planning, engineering, and implementation firm, together announce commencement of a feasibility study for the prospective Leif Erikson cable project, unlocking the global renewable giants Norway and Canada.


The Leif Erikson Cable System will consist of a 4.200 km direct link between southern Norway and Atlantic-Canada connecting into Goose Bay, including plans to extend the system terrestrially back to Montreal. The Leif Erikson system will be the first trans-Atlantic cable powered with 100% renewable energy in line with Bulk’s vision to bring sustainable infrastructure to a global audience.

The Leif Erikson subsea fiber cable will form a northern route between Norway and Canada with 100% renewable energy feed from both sides of the Atlantic.

The feasibility study will be used for survey and construction planning, hazard identification, risk management, and budget and economic modeling. In addition, the feasibility study will develop sustainability requirements for the supply chain and life cycle management.

Bulk Infrastructure owns and operates more than 10,000 km of international and intra-Nordic high-capacity subsea and terrestrial fiber networks, including four live subsea fiber systems, one under construction and the Leif Erikson system now kicking off detailed planning.

WFN Strategies will act as the project planner, designer, and implementer, establishing an initial understanding of the telecommunications infrastructure which will need to be constructed; creating a high-level plan (technical requirements and timeline) for developing that infrastructure; identifying any obstacles or issues in constructing the infrastructure; and providing budgetary cost estimates for the Leif Erikson Cable System project. WFN will bring long term industry experience into the project planning and management.

“We are pleased to formally kick off the Leif Erikson project together with WFN,” said Peder Naerboe, Founder & Executive Chairman at Bulk. “WFN’s experience with submarine cable projects in the arctic regions as well as their determination to include Sustainability as a key element all through the project management makes them the ideal partner for us in a project like Leif Erikson.”

“We are excited to be working with Bulk in preparing the Feasibility Study for the Leif Erikson submarine cable project,” said WFN Strategies Managing Director, Wayne Nielsen. “Bulk Fiber Networks continues to demonstrate success in project execution and making sustainable digital infrastructure available for a rapidly expanding industry. This project draws nicely on our cable engineering and development capabilities, and we look forward to supporting this new system.”

In the Norwegian end of the Leif Erikson system, a prosperous Nordic Data Center industry is rapidly becoming a sustainability hub in European Digital Infrastructure. The Nordic governments support digital infrastructure development at scale. As an example the Norwegian government issued in 2018 a national data center strategy: “Powered by Nature: Norway as a Data Center Nation.” A critical element to achieving this vision of the Nordics as a sustainable Digital Infrastructure hub in Europe, is the availability of high-capacity dark fiber, including low-latency pathways to North America and Central Europe. The Leif Erikson system would be a hallmark project in such respect, and would furthermore be the first trans-Atlantic fiber system that would be powered by 100% renewable energy in both ends. This was also acknowledged by the Global Carrier Awards when shortlisting Leif Erikson for special recognition in the 2021 awards to be announced later this month.

About Bulk Fiber Networks AS

Bulk Fiber Networks is a leading builder and operator of fiber network infrastructure, tailor-made to meet the growing demands of large-scale data and cloud service providers in the Nordics, the US and Europe. We offer some of the shortest, lowest-latency international and intra-Nordic fiber routes available. To learn how Bulk Fiber Networks can help you connect into the Nordics, visit bulkinfrastructure.com and follow us on LinkedIn, Twitter and Facebook. Bulk Fiber Networks is a division of Bulk Infrastructure, a leading provider of sustainable digital infrastructure in the Nordics.

About WFN Strategies, LLC

WFN Strategies, LLC (wfnstrategies.com) is an industry-leading consultancy specializing in the planning, procurement, and implementation of submarine cable systems. WFN has served the telecommunications industry for 20 years and possesses an accredited ISO 9001:2015 management system, and ISO 27001:2013 InfoSec program for the implementation of submarine cable systems for commercial, governmental, and offshore energy companies throughout the world. We are in the process of obtaining our ISO 14001:2015 certification for an environmental management system. WFN’s commitment to sustainability spans two decades, and it recently adopted a roadmap to reduce Scope 1, 2, and 3 carbon emissions in line with climate science, and to achieve net-zero carbon emissions by 2040. WFN advocates for reduced emissions through renewable energy alternatives for clients’ submarine cables. In 2019, WFN received the President’s “E” Award for Exports.

Contacts

Mia Hinterwaldner

iMiller Public Relations

[email protected]
+1 866-307-2510


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Pure North Recycling – Recycling Plastic with Geothermal

Pure North Recycling has a clear purpose – to recycle plastic locally in an environmentally friendly process.  Pure North uses abundant geothermal energy to recycle plastics in Iceland instead of shipping the waste to mainland Europe or Asia, where it is recycled or all too often incinerated. The environmental benefits of local recycling and re-use are tremendous. Icelanders dispose of

Pure North Recycling has a clear purpose – to recycle plastic locally in an environmentally friendly process. 

Pure North uses abundant geothermal energy to recycle plastics in Iceland instead of shipping the waste to mainland Europe or Asia, where it is recycled or all too often incinerated. The environmental benefits of local recycling and re-use are tremendous.

Icelanders dispose of 14,000 tons (40 kg/88 lb. per person) of plastic packaging each year, recycling between 11-13%. There is an exceptional opportunity to increase the recycling of plastics, reduce shipping, and save our oceans from unnecessary plastic pollution by using this plastic again locally within a circular economy.

Pure North uses geothermal wastewater in Hveragerði (45 km/28 miles from Reykjavík) to clean the plastic. This water is much hotter than the water used in Europe and Asia for recycling plastics and does not require extra energy to be heated up. Using such hot water eliminates the need for gas scrubbing or alternative chemicals in the cleaning process. Pure North uses geothermal heat to dry the plastics, and all the electricity used is also produced with renewables since they are based in Iceland.

Each ton of plastic recycled by Pure North saves 0.7 tons of CO2eq and 1.8 tons of oil compared to producing an extra ton of plastic.

Pure North’s processing technique sees additional carbon dioxide savings of 1.52 CO2eq per ton compared to recycling plastic in Europe or Asia, according to a comparative Life Cycle Assessment (LCA) of plastic recycling at Pure North by Resource International.

Pure North currently recycles 2,500 tons of plastic hay-baling waste per year—the largest source of plastic waste in Iceland. It has plans to double its production to 5,000 tons by 2021. Ten large Icelandic companies have signed a cooperation agreement to recycle their plastic, including The Blue Lagoon, BM Vallá, Brim, CCEP, Eimskip, Krónan, Lýsi, Marel, Mjólkursamsalan, and Össur.

Pure North Recycling estimates that it can scale up production capacity to 20,000 tons per year—more than is currently imported annually. The company envisions a future where all the plastic in Iceland is recycled locally over and over.

PURE NORTH RECYCLING WEBSITE

This article originally appeared on Green by Iceland.


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Hackers hit Alaska Seafood Marketing Institute

ASMI, which operates separate computer systems from the state’s executive branc

ASMI, which operates separate computer systems from the state’s executive branch, discovered the activity of a ‘nefarious third party’ in August — Jeremy Woodrow


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