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Geothermal Idea Challenge

Challenge over

The idea challenge is now over, but all the ideas that were submitted and results will be introduced at Hof Cultural House in Akureyri, June 13 at 2 p.m. Welcome to join us!


What is it all about?

This Idea Challenge on the utilization of low to medium enthalpy resources in Northeast Iceland is held by EIMUR in cooperation with Íslensk verðbréf and Vaðlaheiðargöng ehf. There are no restrictions on the type of utilization being suggested or where within the region it is. The goal is to receive varied ideas on the utilization of low to medium enthalpy resources. 

In February 2014 a warm water vein (46°C) was hit while the Vaðlaheiði tunnel was being constructed. The water flow and temperature has now stabilised and is thought to be quite a resource that today is just flowing out to sea.

One of EIMUR’s goals is to encourage increased sustainability of the communities in Northeast Iceland with better utilization of resources but the water in Vaðlaheiði tunnel is a good example of a resource that should not go to waste. Various ideas of possible utilization have already been named, but with this competition the hope is to increase the likelihood of utilization becoming a reality.

This is an idea challenge and is open to everyone. 


The total prize amount is 2.000.000 ISK. First prize will be at least 1.500.000 ISK. Íslensk verðbréf will also offer the winner assistance with:

  • Possible financing options
  • Creation/evaluation of a business plan and evaluation of needed investment
  • Creating tenders, final agreements and other legal transactions. 

Project description 

All further information on the challenge can be found in the competition description here below, but submission deadline will be Monday May 22.