GEG is proud to announce that we have won an ISK 30 million grant from the Ministry for Foreign Affairs in Iceland.

We will be exploring if low-temperature geothermal energy could be used as an energy source for the cold storage for apples. The grant is provided by the Business Partnership Fund for the United Nations’ Global Goals, to Icelandic GEG. The project is to be completed by the end of 2023.

According to Snorri Einarsson, CTO of GEG, the intention is to use that energy to run a steam-powered cold room. “We want to use that technology to run cold storage for apples. The direct use of geothermal energy for cooling is a cheaper way to cool the apples than to use electricity, ” he says.

According to Vijay Chauhan, CRO of GEG, “there are no cold storage in the district as of today. Therefore, farmers are often forced to sell apples at lower prices during the harvest season instead of being able to store them in refrigerators and sell them over a longer period of time, thus creating more value for society.”

The project is linked to four of the seventeen United Nations Global Goals: the Sustainable Energy Goal (7); the goal of good employment and economic growth (8); the goal of greater equality (10) and the goal of climate action (13).

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