Elkem wants to use Carbfix to reduce emissions at Grundartangi
Elkem Iceland intends to use Carbfix’s technology to reduce the emissions of the operation of its alloy plant at Grundartangi, Iceland. In parallel with the plans, the feasibility of utilizing carbon dioxide from the plant will be studied, in collaboration with Grundartangi Development Company.
Yesterday, a Letter of Intent (LoI) to this purpose was signed by the two companies’ CEOs and the chairman of the board of the Grundartangi Development Company and witnessed by Iceland’s Minister for Tourism, Industry and Innovation.
The LoI creates a framework for the necessary data collection, research, and analysis of necessary steps to apply the Carbfix technology to capture CO2 from Elkem’s plant and permanently mineralise it in bedrock. The method has already proven its value at the Hellisheidi Geothermal Power Plant.
Edda Sif Aradottir, CEO of Carbfix, said Carbfix has momentum which is pleasing and necessary when the climate crisis manifests itself in increasingly diverse ways. “We are busy responding to inquiries for implementation of Carbfix from various locations and industries around the world, but it can be beneficial to start this project first here at home,” Aradottir says.
Almost two years ago, the Icelandic government pioneered an agreement between Reykjavík Energy, the owner of Carbfix, and representatives of the power-intensive industry in Iceland, with the aim of exploring whether the technology that has proven so successful in geothermal utilization could benefit the power-intensive industry. Þórdís Kolbrún Reykfjörð Gylfadóttir was one of four ministers involved in this initiative and she was present at the signing of this LoI following this initiative today.
While too high CO2 concentration in the atmosphere creates problems, the gas is an unavoidable by-product in various production processes. Therefore, it will be studied in collaboration with the Grundartangi Development Company whether it will be possible to extract CO2 from the emissions from the ferroalloy plant.
On this same occasion, a letter of intent was signed between Elkem Iceland, Grundartangi Development Company, and Veitur Utilities, Carbfix’s sister company, on research into the harnessing of waste heat from the industrial plants at Grundartangi.
Ólafur Adolfsson, Chairman of the Board of Grundartangi Development Company, says he hopes that the project will support ongoing development at Grundartangi, which will be based on innovation, environmentally friendly solutions, value creation, and cluster collaboration between powerful companies, institutions, and public bodies. The area offers access to various material streams, i.e. carbon dioxide and waste heat from industrial activities, access to excess renewable electricity and good port facilities.
This press release first appeared on the Carbfix website.
