Who We Are
GEG ehf. is an Iceland-based geothermal development company with strong experience in delivering turn-key geothermal power plant solutions from wellhead to transmission line connection. GEG and its acquired assets have a strong experience in the design, engineering, delivery, and construction of geothermal power plants, having successfully implemented 16 of them across both Kenya and Iceland. GEG and its assets initially focused on providing geothermal wellhead power plants on a turn-key basis to clients worldwide, and have since adapted the business model.
Today, GEG ehf., founded in 2019, is developing geothermal projects with local partners around the globe to step earlier into the development cycle. GEG believes there is the urgent need for modular geothermal development that considers resource and development risk and responsibility for the environment. Lastly, GEG sees an opportunity to utilize the resource beyond power generation and is investigating direct use opportunities tied into the company’s development efforts.
GEG ehf. was founded in Iceland in 2019 on a market opportunity for modular smaller-scale power plants. With a unique modular small-scale wellhead power plant design, and the development model from wellhead to transmission line, GEG pioneered the “turn-key“ modular geothermal wellhead power plant concept with one of the world’s lowest footprints per MW.
Mission & Vision
Our mission is to become a leading global geothermal resource developer in offering a unique and proven approach on modular development with the smallest land footprint and fastest path to energy generation, while building and fully utilizing a geographically balanced portfolio of geothermal assets globally. We are also on target to contribute towards the global energy transition by helping to avoid carbon emissions from traditional fossil fuel power generation.
The GEG team consists of the company’s employees located at our headquarters in Iceland, as well as our advisors and partners based around the world.
Board of Directors
The GEG team works with a number of trusted individuals to help oversee our business on behalf of our shareholders.
In our global geothermal development work and in our business development, GEG works with the following companies, while maintaining various international working relationships beyond just these entities.
In our work, environmental, social, and governance (ESG) principles are seen as crucial for GEG‘s business and international activities. GEG has implemented a holistic sustainability policy focusing on ESG matters to help manage risks and opportunities to develop a reduced time, low risk, and low cost geothermal energy solution in our commitment to support the UN’s Sustainable Development Goals (SDGs).
Geothermal power is not only a sustainable, environmentally-friendly, and reliable source of energy, but it also has various advantages over other renewable energy technologies. Geothermal has many diverse and community-benefitting applications as well, such as direct use, which GEG aims to fully utilize in ongoing and future projects.