A property formerly destined to be a large aluminum smelter that was never completed, has been given a new lease of life and will be transformed into a new Eco-Business Park for Iceland.
The Park is situated in a highly advantageous location. It is just two minutes from Helguvik harbor, ten minutes from the International Airport in Keflavik and forty-five minutes from Reykjavik city center. The property consists of 280.000 m2 of land and the existing floorplan of 25.000 m2. There is an option to double the floor space by installing an additional level, creating a new total functional floor space of up to 50.000m2. This space is positioned in one of the richest natural resource areas in Iceland called Reykjanes, and in a country already known as a global leader in renewable energy where 100% of electricity and heating needs are met with a combination of hydro and geothermal power. The Park will benefit from a close relationship with The Resource Park in the Reykjanes where companies are striving to make full use of the rich local resources: geothermal hot water, cold water, steam, renewable electricity, and carbon dioxide.
The Iceland Ocean Cluster is the co-founder of the Eco-Business Park. With over 60 companies under its roof in Reykjavik, The Iceland Ocean Cluster House has become a global showcase of Iceland´s aim to use all parts of the fish to create value and waste nothing; 100% fish use. The aim of the Eco-Business Park is to extend this 100% ideology to a whole array of other industries. The new Eco-Business Park will grow the existing co-working space of the Iceland Ocean Cluster by ten-fold, and the largest in the country where new and expanding companies can rent space for their offices, research, development, and manufacturing facilities.
The Park will provide a much-needed platform for diverse industry players that have the ambition to move toward circular business models and the largest co-working space in the country. One of the central components of the circular economy is that waste is designed out of the system. The long-term vision of The Park is to build bridges between the sectors of water, energy and food and create the opportunity for companies inhouse to re-imagine each other´s waste streams, into new value; a truly circular environment to the benefit of all members of the community and the planet.