We are excited to announce to NCEC members that Dr. Edda Aradottir from Iceland, CEO of Carbfix, who spoke at the recent annual meeting, has been named a WE Empower UN SDG Challenge awardee for 2024!

Dr. Edda Aradottir is the CEO of Carbfix, an Icelandic company dedicated to climate recovery through proprietary technology that permanently transforms captured CO₂ into stone underground. Carbfix accelerates a natural process in which dissolved CO₂ interacts with reactive rock to form stable carbonate minerals, providing a permanent, environmentally benign carbon storage solution. Carbfix progressed from concept to a cost-effective, industrial carbon capture and storage (CCS) process in just seven years, thanks to collaboration between industry and academia, involving scientists, engineers, and tradespeople, while simultaneously training future experts through research positions.

NCEC Interview with Dr. Aradottir

1. How does Carbfix contribute to removing carbon from the atmosphere?

Carbfix’s technology speeds up natural processes that already store over 99% of Earth's carbon. Under Aradottir’s leadership, Carbfix aims to scale globally, focusing on hard-to-abate sectors such as cement, steel, and chemicals.

2. Who are the key stakeholders in the carbon removal space?

Carbfix actively collaborates with stakeholders including policymakers, businesses, and NGOs to advance CCS solutions. Global partnerships extend to Europe, North America, Asia, and Africa, in areas with favorable geology, regulations, and market conditions (SDG 17: Partnerships for the Goals).

3. How is this a viable financial model?

Carbfix is a cost-effective solution for emission reductions in voluntary and mandatory carbon markets, exemplified by CCS operations at the Hellisheidi Geothermal Power Plant in collaboration with ON Power and Climeworks. Verified for certified carbon credits, Carbfix mineral storage technology competes strongly on safety, permanency, and cost, with CCS costs at Hellisheidi around $30/ton, lower than EU ETS emission allowance prices.

4. How do you engage with local communities?

Carbfix educates and involves local communities and students through partnerships with academic institutions, youth exhibitions, and transparent public communication, promoting climate awareness and dialogue.

5. Anything else you’d like to share?

“It is pivotal to highlight women’s role in climate to empower us and ensure we are included in all discussions and decision-making.” — Edda Aradottir

Links for Further Reading

- Carbfix website

- Bloomberg: Is CO₂ Removal Ready for Its Big Moment?

- X EARTH with John Holden: Modeling Sustainability for Business

- Financial Times: Climate tech to save the planet: Out of thin air

- Vogue Scandinavia: The shoes on Björk's latest album cover are made of CO₂

- Businesswire: Verdox Wins $1M XPRIZE Carbon Removal Award 1with Carbfix

- Northstack: The biggest EU grant to Iceland so far goes to Carbfix

- Vogue Business: Iceland fashion and beauty sustainability spotlight