OUR VISION - Carbon Iceland

WE ARE ASPIRED TO FIGHT CLIMATE CHANGE

Providing green fuel to hard-to-electrify industries

Our vision is to capture large industrial emissions to speed up decarbonization

Point source emission is responsible for ∿40% of Iceland’s emissions (w/o LULUCF). Capturing the CO2 released, is an important step towards carbon-neutrality in Iceland. By utilizing latest technology and partnering with large emitters, Carbon Iceland is able to cost-effectively and rapidly capture large volumes of CO2 that would otherwise be released into the atmosphere.

This will allow Carbon Iceland to eventually capture 1-2 million tons of CO2 to provide as a feedstock into our own production of eFuels, green liquid CO2 and for sequestration.

Our vision is to provide net-zero fuel to hard-to-electrify industries

Many industries still use fossil fuels, such as maritime, fishing, transportation, and aviation. Large parts of these industries have been proven to be hard to electrify, due to energy storage and weight limitation issues. Carbon Iceland will help to advance the decarbonization of these industries by offering green fuel to these industries, with no or minor modifications to engines needed.

For the Marine Sector, Carbon Iceland can offer green fuel that can eventually serve 100% of needs of the marine sector. In Iceland, this is very much applicable for the fishing fleet industry, as an example. Similar strategies can also be applied to the Heavy Trucks Sector. Carbon Iceland can offer up to 100% of the fuel needed to decarbonize transportation vehicles and heavy machinery. Considerable part of this sectors will be hard-to-electrify and therefore, to speed up the level of decarbonization, renewable fuel for combustion engines is a necessary stepping-stone into a greener future. In addition, the Aviation Sector is another sector that Carbon Iceland will be able to serve with sustainable aviation fuel.

Carbon Iceland has developed a strategic green fuel deployment plan that can be available upon request.

300,000 tons/year of renewable fuels

Our vision is to advance energy transition without replacing engines

Blending mandates are the main tool to advance the use of renewable fuel by demanding a certain minimum % of renewable fuel to be used in various sectors, such as in aviation, maritime, cars, trucks and in other transportation vehicles.

We embrace new technologies that can bring new engines to transportation vehicles of all sectors. But high percentages of current transportation sectors will continue to use current engines for years to come due to the fact that businesses have already invested in current vehicles, using current engine types. And to advance decarbonization, we have to offer a solution to current engines in different sectors, to speed up the fight against climate change. Waiting for all engines to be replaced would delay decarbonization for much longer time than we can afford.

As done in many other countries (India, USA, etc.) it is possible to put into action a drop-in fuel legislation to ensure a usage of a certain minimum % of renewable fuel by don’t changing any engines. In many countries, this initially forces up to 20-30% of blending renewable fuels to slowly increase the usage of renewable fuels, without waiting for the whole fleet to change engines. In later stages, the ratio can be higher by making modifications on current engines.

Renewable fuel options, like portrayed here, would definately speed up decarbonization within many sectors:

Carbon Iceland's first customer is the fishing trawler "Guðmundur í Nesi RE-13"

Pioneer work on renewable fuels by fishing fleet operator Útgerðarfélag Reykjavíkur

Útgerðarfélag Reykjavíkur (www.urseafood.is) has truly been a pioneer in advancing the pathway for renewable fuels, for the last years, in Iceland. Their trawler, “Guðmundur í Nesi RE-13”, will be Carbon Iceland’s first customer, as agreed by a binding off-take agreement, recently signed by Útgerðarfélag Reykjavíkur and Carbon Iceland.

It is truly a valuable acknowledgement for Carbon Iceland to experience such a strong support from this large and well established fishing fleet operator. A binding off-take agreement has been signed, securing ÚR all the renewable fuel they need for its fleet of vessels.

Our renewable fuel is already in high demand

Our renewable fuel production facility, already in design process, will offer industries more than one type of renewable fuel. While many engine types prefer eMethanol, there are other engines that can be transformed smoother by different types of renewable fuel types, that Carbon Iceland will offer.