Top investable innovation zones: Iceland EcoBusiness Park, Helguvík, Iceland
Project overview
Iceland EcoBusiness Park (IEBP) is a privately owned Eco-Industrial and Innovation park located in Helguvík on Iceland’s Reykjanes Peninsula. Launched in 2023, the project repurposes a large industrial building originally intended to become an aluminium smelter –where construction was halted before operations ever began – and gives it a new, future-oriented purpose.
Rather than heavy industry, IEBP is designed as a place for sustainable businesses to grow side by side, sharing infrastructure, knowledge and resources. The park is built around the idea of community first: companies are not only tenants, but active participants in a collaborative ecosystem shaped by circular economy principles.
With approximately 25,000 sq m of existing floor space and clear potential for expansion around the building, IEBP offers flexible industrial and innovation spaces powered by Iceland’s 100% renewable energy mix. Its location, minutes from Helguvík harbour, close to Keflavík International Airport and 45 minutes from the capital area, makes it particularly attractive for internationally minded companies seeking a European base with strong sustainability credentials.
The opportunity
IEBP offers companies the opportunity to establish, relocate or expand operations within a purpose-built community of like-minded businesses. The park is open to domestic and international ventures across sectors such as sustainable manufacturing, food production, cleantech, materials, research and innovation-driven industry.
The opportunity lies in becoming part of a growing, sustainability-focused business community. Companies joining IEBP benefit from proximity to like-minded ventures and from a long-term vision built around collaboration and circular thinking, with future potential for deeper cooperation as the park develops.
IEBP is seeking new companies that wish to rent or purchase space on site and contribute to a growing ecosystem with a strong circular mindset at its core.
IEBP welcomes entrepreneurs, startups and scale-ups, as well as well-established companies looking for flexible space in a sustainability-driven environment.
The financials
The park is 100% privately owned, with the founders retaining majority ownership, and has been developed without public investment backing.
The operating model is based on welcoming ventures and companies on site: businesses join the park by leasing or purchasing space and becoming part of the IEBP community. Value creation comes through long-term occupancy, collaboration between tenants and the shared growth of the ecosystem rather than through speculative development or short-term returns.
This model provides stability, clarity and alignment of interests between the park and its companies, while allowing each venture to scale at its own pace within a supportive and resource-efficient environment.
Project sponsor
IEBP is a privately owned project, founded and led by Kjartan Eiríksson, CEO, and Þór Sigfússon, chairman, who together hold majority ownership. The project is not backed by public investment.
IEBP works closely with regional stakeholders and innovation partners, but governance, strategy and long-term development remain fully private.
Significance
IEBP is significant both for the Reykjanes Peninsula and for Iceland as a whole. At a regional level, the project supports the long-term economic transition of the Helguvík area by transforming an unfinished heavy industry site into a productive environment for sustainable and innovation-driven businesses.
This shift contributes to local job creation, skills development and renewed economic activity in a region with strategic importance for Iceland’s infrastructure and logistics.
Beyond its regional role, IEBP creates a national platform for diverse, future-oriented companies to generate long-term value through innovation and collaboration. By attracting international businesses and operating entirely on renewable energy, the park strengthens Iceland’s position as a destination for sustainable, renewable-powered industry.
At the national level, IEBP complements Iceland’s strong innovation ecosystem by addressing a key gap: the limited availability of flexible, large-scale industrial space suitable for modern production, research and applied innovation.
By focusing on community building and circular principles, the project demonstrates how existing industrial infrastructure can be reimagined to meet today’s economic and environmental objectives while supporting Iceland’s long-term competitiveness.
The pitch
The park offers companies something increasingly rare: space to grow within a community that genuinely shares values, infrastructure and ambition. Powered entirely by renewable energy and located at the crossroads of international transport routes, the park combines practical advantages with a strong sustainability narrative.
What makes IEBP particularly attractive is its human scale and long-term perspective. Companies are not isolated tenants but neighbours, encouraged to collaborate, exchange resources and develop circular solutions together. The result is an ecosystem where businesses can innovate, scale and operate responsibly, while benefiting from the stability of private ownership and a clear, consistent vision.
