ON POWER
ENERGY TRANSITION
It is a rugged, tough-to-tame island that features the unpredictable fire of active volcanos and the ice of Arctic freezes. But the people of Iceland – like their Norse ancestors – punch above their weight.
For it is also the land of extraordinary climate tech innovation, including carbon capture and storage, geothermal, biotech and more.
If one location encapsulates this resourcefulness, it is the Geothermal Park at Hellisheiði.
The park is owned by Orka náttúrunnar( ON Power), one of Iceland’ s leading green energy companies.
It is located on 103 hectares at the site of the Hellisheiði power plant and is a place for climate tech and food tech start-ups and established businesses to grow.
ON POWER
HEADQUARTERS: ICELAND NUMBER OF EMPLOYEES: ~ 200 MARKET CAP: US $ 43M
ON Power is the largest producer of geothermal energy and the second largest electricity producer in Iceland. It has also installed more than 3,000 EV charging stations across the island, having been the first to install one in 2014.
164 September 2025