Orkusjóður

Orkusjóður is an Icelandic fund established to support research, development, and innovation within the energy sector. Its primary objective is to promote the sustainable use of energy resources and the development of new energy technologies in Iceland. The fund operates under the Ministry of Industries and Innovation and plays a significant role in driving the country's energy transition.

The fund finances projects that aim to improve energy efficiency, increase the utilization of renewable energy sources such as geothermal and hydropower, and explore new energy technologies like carbon capture and storage. It also supports research into electric vehicles and related infrastructure. Orkusjóður provides grants and funding to research institutions, universities, companies, and individuals who are engaged in innovative energy-related activities.

Funding for Orkusjóður comes from various sources, including contributions from energy companies operating in Iceland and governmental allocations. The selection process for funding is competitive, with projects evaluated based on their potential impact, scientific merit, and alignment with national energy policy goals. By investing in these areas, Orkusjóður contributes to Iceland's efforts to maintain its leadership in renewable energy and reduce its carbon footprint. The fund's activities are crucial for fostering a knowledge-based economy and ensuring a sustainable energy future for Iceland.