Iceland offers truly exciting and unique opportunities for investment in the chemical industry.
This excellent potential is enhanced by some of the key advantages Iceland offers that combine to create opportunities in chemichal industry fields including:
For industries with high-energy consumption, Iceland offers the chance to develop exciting products to help the world reduce its carbon footprint in the future.
Reasons to choose Iceland:
Low-cost geothermal energy
- Iceland has a unique supply of competitively priced, sustainable energy from hydro and geothermal resources.
- This provides the chemical industry with a range of diversified uses – and the chance to utilise that energy to produce lightweight materials such as carbon fibers.
- Clean, efficient and low cost chemical processes.
A supportive political and economic environment
- Great political enthusiasm for building up the chemical industry in Iceland, including stimulus legislation and various incentives.
- Iceland offers an advanced economy with European legislatives framework, sound infrastructure, low corporate taxes and incentives for foreign direct investment.
A dynamic science community and workforce
- Iceland offers a highly educated scientific workforce.
- The strong links between the academic community and the corporate world are shown in initiatives such as the Vatnsmýri Science Park.
Great potential for low-cost chlorine production
- Chlorine chemistry has a role in over 50% of all industrial chemical processes – and in making future innovations happen.
- Electricity accounts for around half the cost of producing chlorine.
- Iceland's unique energy resources make the cost of chlorine production around 30-40% lower cost than in the rest of Europe.
Great potential for chemical clusters
Iceland is an excellent option for the development of chemical clusters based on green electricity and steam with the combination of many factors including:
- A supportive investment environment
- Land availability