The world’s second-largest ferrosilicon plant, Elkem Iceland, signed a letter of intent for the purpose of utilizing Carbfix’s technology to decrease CO2 emissions of its alloys plant in Grundartangi, Iceland. Carbfix is an Icelandic company specializing in capturing and storing carbon dioxide by turning it into stone.
The LOI was signed by the CEOs of both companies and will serve as the framework for all the forthcoming analysis, research, and data collection related to the process of implementing Carbfix’s carbon capture technology in Elkem’s plant. The company’s CCS method has already been successfully incorporated in the Hellisheidi Geothermal Power Plant.
Carbfix is currently “busy responding to inquiries” from a range of different locations and sectors in the world, according to CEO Edda Sif Aradottir. But she believes it would be more beneficial to begin the project in its home country.
Carbfix is owned by Reykjavík Energy, who some two years ago signed an agreement with the government of Iceland and several representatives of the country’s energy-intensive industry. The aim of the agreement was to study the effectiveness of Carbfix’s technology in the sector and compare it to its success in geothermal utilization.
All parties understand the problematic nature of CO2 emissions and their concentration in the atmosphere for the environment, yet they also recognize their inevitability in different production processes. For this reason, the Grundartangi Development Company will be closely monitoring the effectiveness of the CCS technology in the ferroalloy plant.
A further LOI was also signed between Grundartangi and Carbfix’s sister company, Veitur Utilities, to explore the potential of harnessing waste heat from Grundartangi’s industrial facilities.