Icelandic New Energy

Icelandic New Energy Ltd (Íslensk NýOrka ehf) is a company that promotes the use of hydrogen fuel in Iceland founded in 1999 following a decision in 1998 by the Icelandic Parliament to convert vehicle and fishing fleets to hydrogen produced from renewable energy^[1] by 2050.

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Icelandic New Energy was formed as a spin-off from the research carried out by the University of Iceland and is 51% owned by Vistorka, with the remainder owned by DaimlerChrysler, Norsk Hydro and Shell Hydrogen.^[2] VistOrka itself is owned by The Icelandic New Business Venture Fund (Nýsköpunarsjóður) [1], the Ministry of Industry and Commerce, the national electricity company Landsvirkjun, Reykjavík Energy (Orkuveitu Reykjavíkur) [2], Hitaveita Suðurnesja [3], the Technological Institute of Iceland [4], The Fertilizer Plant (Áburðarverksmiðjan) [5], the University of Iceland and Reykjavik Resources.^[3]

Since it's foundation, Icelandic New Energy has managed a number of hydrogen demonstration projects in the country. The company also engages in hydrogen fuel consultancy, educational seminars and other activities.

See also

• Renewable energy in Iceland

References