🇮🇸 Start-ups put the weight on the circular economy

March 20, 2023

Press release from KLAK

Seven outstanding and diverse start-ups have been selected to participate in Hringiðu 2023, a business accelerator and a collaborative platform for companies in Iceland, which put all the weight on the circular economy and ensure that resources are maintained in the economy.

The review of applications was conducted by a steering group, which is composed of representatives of the sponsors and partners of The Circle. The group includes experienced people from the business and business sectors who work to promote the circular economy and green solutions. Diverse and promising teams were sought to tackle climate challenges guided by the circular economy.

The debate on the circular economy has been the focus of recent years and is becoming increasingly urgent with each passing year. Hringiða A project is needed in this debate and has in a short time established itself as a coping mechanism to help start-ups draw up and develop solutions to climate-related challenges and take global leadership in environmental matters.

Hringiða is based on an international model and is a proven process in which start-ups are given access to targeted training and a broad network of industry experts. According to Kolfinna Kristínardóttir, project manager of Hringiða, “The accelerator is a strong forum for circular companies in Iceland that gives individuals the opportunity to meet other people who are interested and work within the circular economy. Hringiðu participants thus gain a wide network of mentors from business and eventually be able to apply for grants to European funds, such as LIFE and Horizon Europe.”

Mar Eco
Mar Eco stands for Marine Ecolocial Solutions and the goal is to work on environmentally friendly solutions in the production and use of fishing gear. Recycled plastic scrap from the sea is used, which supports the blue economy and environmentally friendly fishing.

The founders of Mar Eco are Atli Már Jósafatsson, Gunnar Már Atlason and Andrea Thormar.

Melta offers recirculation services and the production of organic fertilizers from bio-waste in rural and municipal areas.

Melta’s founders are Björk Brynjarsdóttir and Júlía Brenner.

Orb develops technologies to measure the carbon sequestration of forests in a cheap and accessible way to promote responsible carbon offsetting and the production of certified carbon units.

Orb is founded by Íris Ólafsdóttir and Jón Arnar Tómasson.

Resea Energy
Resea Energy is a research and development company aiming to produce biofuels from seaweed from cultivated seaweed.

The founders of Resea Energy are Páll Gunnarsson and Ingi Björn Sigurðsson.

Alor is working on the development and production of environmentally friendly aluminium batteries and energy storage of different sizes, i.e. from small batteries and accumulators to large energy storage in container sizes.

The founders of Alor eur Linda Fanney Valgeirsdóttir and Rúnar Unnþórsson.

Bambahús is a greenhouse that contributes to the strengthening of the circular economy, reusing liquid packaging that would otherwise be exported and landfilled. The houses are light, sturdy, premature, and specially designed with Icelandic climate in mind.

The founders of Bambahús are Reynir Hjálmarsson, Jón Hafþór Marteinsson and Sigrún Arna Gylfadóttir.

RVK Tool Library Collection
The Circular Library provides communities with fair and financial access to tools and other items.

The founders of RVK Tool Library’s Collection are Anna C de Matos and Kristofer Henry.

Management of the accelerator is in the hands KLAK who has for many years provided assistance in the development of business ideas and brought together a group of stakeholders with value creation as a guiding principle. The sponsors of Hringiðu are the City of Reykjavík, the Ministry of Environment, Energy and Climate, Reykjavik Energy, Faxaflóahafnir, Terra, Ölgerðin and the Federation of Icelandic Industries. The partners of Hringiða are Rannís, Breið development company, Evris, Sjávarklasinn, Grænvangur and Orkuklasinn.

Originally published on 17 March.

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