Reykjavik Energy Invest (REI) is an emerging global leader in the management and development of geothermal energy opportunities. REI was formed in 2007 by a committee appointed by Reykjavik Energy (www.or.is) to capitalize on Reykjavik Energy’s leading position in the global utilization of sustainable energy.
 
Reykjavik Energy builds its business on two main foundations: its geothermal power plan and multi-utility infrastructure, founded in 1999 with the merger of Reykjavik Electricity and Reykjavik District Heating. Reykjavik Water Works was subsequently incorporated and later acquisitions include dozens of smaller utilities in smaller municipalities.

The history of Reykjavik Water Works dates back to 1909, Reykjavik Electricity to 1921 and Reykjavik District Heating to 1930. The latest addition to the company's utilities, in 2006, is the sewerage system in Iceland’s capital and nearby municipalities.

Reykjavik Energy operates in accordance with Quality Standards ISO 9001, ISO 14001, OHSAS 18001 and the HACCP regarding tap water. RE’s electric generation is certified as Green by TÜV in Germany, it has received an Aa2 rating by Moody’s and Reykjavik Energy was awarded The Environmental Company of the Year Award by The Icelandic Ministry for the Environment in 2005.

Reykjavik Energy now operates in 20 municipalities and serves more than half of the population with electricity, tap water, hot water for space heating and sewer services. Reykjavik Electricity also owns and operates a dark-fiber backbone network in the south and west of Iceland.

Reykjavik Energy bridges natural resources and societies, harnesses natural resources in a sustainable, economical way, and applies cutting edge technology for the benefit of customers, owners and the environment.

Reykjavik Energy is a world leader in research and development programs and takes special pride in its leadership in geothermal efficiency and environmental issues. Reykjavik Energy paved the way among Icelandic power companies and Icelandic companies in general by commencing issuance of an annual, independently audited Sustainability Report in 2000. Reykjavik Energy has played a key role in implementing sustainable energy sources like hydrogen and methane in transportation in Iceland and leads the way in developing and applying cutting edge technology in geothermal research.

Reykjavik Energy is currently working on a multinational study aimed at sequestering CO₂ in basalt. The Company's research associates include world renowned scientist Wallace S. Broecker of MIT, recipient of numerous international awards, as well as top scholars at the University of Iceland and the Université Paul Sabatier in Toulouse, France. The project's implications for fighting global warming are very promising.

Another research program is the Icelandic Deep Drilling Project. Its purpose is to drill 4-5 km deep boreholes to reach supercritical hydrous fluid at temperatures of 400-600°C. Drilling to such depths could significantly increase the power output of geothermal fields in Iceland. The project’s first hole is to be drilled at RE’s Hellisheidi site in 2008.

Reykjavik Energy's reputation not only attracts scholars and geothermal scientists. The Company’s showcase of harnessing green energy has been admired by heads of state and their delegations for many years. Since 2000 there have been 41 registered visits of heads of states and senior ministerial figures at Reykjavik Energy’s facilities.

Reykjavik Energy’s contribution to Iceland’s reputation as home of clean energy is not confined to geothermal resources. The Company is taking an active role in implementing new energy sources for transportation in Iceland. Reykjavik Energy is involved in two businesses developing sustainable transportation alternatives through the use of methane and hydrogen. The Company owns and runs a 10 km. methane pipeline from Reykjavik’s landfill to a filling station and runs several methane vehicles in the Company’s fleet. It also owns 5 hydrogen vehicles and takes an active part in fulfilling the Icelandic Government’s goal of developing a hydrogen economy in Iceland.

Reykjavik Energy has close ties with the Geothermal Training Programme of the University of the United Nations, which has operated in Reykjavik since 1975. Reykjavik Energy’s scientists are professors in the programme and UNU-GTP’s students seek their field training at RE’s sites. This connection with the UNU-GTP’s hundreds of graduates provides Reykjavik Energy with invaluable contacts when operating abroad.

REYST - Reykjavik Energy Graduate School of Sustainable Systems
Sustainable use of energy resources is the basis for future economic growth and well being. To promote research and organized education in this field, Reykjavik Energy, in collaboration with Reykjavik University and the University of Iceland, has founded an interdisciplinary school in higher education for engineers and scientists in order to create leading experts in management, design and research in the field of sustainable energy.