Monitoring a photobioreactors in the micro-algae production facility, at a factory in the Geothermal Park in Hellisheidi.

Kristinn Haflidason, CEO of Algaennovation, monitors one of their photobioreactors in the micro-algae production facility, at ON, Geothermal Park in Hellisheidi. Iceland has successfully transformed its economy. In a span of a few decades, the country moved away from fossil fuels and shifted to 100% electricity production from renewable sources. Algae innovation proprietary technology for micro-algae cultivation enables to have negative carbon footprints and use less than 1% of freshwater and land areas used by conventional small-scale algae companies. The plant uses water and electricity from the nearby Hellisheidi geothermal power plant and exploits carbon dioxide emissions in a process that turns waste to value in a sustainable manner.