01.05.2023
Japan‘s Minister of Economy, Trade and Industry visits Carbfix
A Japanese delegation led by Yasutoshi Nishimura, Minister of Economy, Trade and Industry visited Hellisheidi geothermal power plant yesterday to learn about the operations of Carbfix, ON Power, and Climeworks.
Sævar Freyr Þráinsson, CEO of Reykjavik Energy, the parent company of ON Power and Carbfix, welcomed the minister at the power plant‘s Geothermal Exhibition, and Berglind Rán Ólafsdóttir CEO of ON Power, gave an introduction about the utilization of geothermal energy in Iceland.
Edda Aradóttir, CEO of Carbfix presented Carbfix‘s technology of CO2 mineralization and it‘s global scaling potential, followed by a presentation from Christoph Gebald, CEO of Climeworks. The guests of honor furthermore visited one of Carbfix‘s injection wells, where CO2 is being injected into the ground for permanent mineralization. There Ms. Aradottir presented Minister Nishimura with a gift: a piece of basaltic rock with mineralized CO2, symbolizing the big geologic potential for implementing the Carbfix technology in Japan
Carbfix potential in Japan is significant
The delegation‘s visit to Iceland included the signing of a joint statement of geothermal cooperation with Iceland‘s Minister of Environment, Energy and Climate, Guðlaugur Þór Þórðarson, and strengthening industry and business relations between the two nations.
Japan has great potential for the deployment of the Carbfix technology due to its position on the Pacific Ring of Fire, which is highly volcanically active and has abundant potentially favorable rock formations for mineral storage of CO2. Their estimated theoretical storage potential ranges between 44 – 439 Gt CO2 and Carbfix is already exploring the feasibility of unlocking that storage potential in partnership with Japanese businesses.
CBO of Carbfix Kristinn Ingi Lárusson stated that "As we look to address the challenges of climate change, we must explore every opportunity to reduce our carbon footprint. The potential of Carbfix in Japan is promising.
To the left: Japan's ambassador to Iceland, Ryotaro Suzuki, Christoph Gebald, CEO of Climeworks, Edda Aradóttir, CEO of Carbfix, Yasutoshi Nishimura, Minister of Economy, Trade and Industry in Japan, Sævar Freyr Þráinsson, CEO of Reykjavik Energy and Berglind Rán Ólafsdóttir CEO of ON Power.
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