EASME

EASME is a European Union executive agency that supports small and medium-sized enterprises and promotes innovation in Europe. It manages projects in the areas of small and medium-sized enterprises, as well as the environment, energy, and maritime sectors, funded by COSME, LIFE, and EMFF. EASME organizes the European Sustainable Energy Week and serves industries such as environmental management, energy production, and maritime activities.

Kristalina Georgieva

Vice President

Past deals in Iceland

Svarmi

Grant in 2019
Svarmi is an Icelandic company that focuses on unmanned aerial vehicles (UAVs) for applications such as aerial photography and mapping, as well as other specialized tasks. In addition to its UAV offerings, Svarmi has developed a software platform aimed at assisting organizations in building essential digital infrastructure. This software includes a data analytics pipeline that establishes consistent metrics related to biodiversity and aligns with nature-related financial disclosure frameworks. It also facilitates the evaluation of new infrastructure projects, enabling geologists to obtain detailed reporting on their environmental impact.

Hefring Marine

Grant in 2019
Hefring Marine is an Icelandic startup based in Reykjavík that specializes in advanced marine technology. The company offers the Intelligent Marine Assistance System (IMAS), an AI-driven software solution designed to enhance safety and efficiency for both manned and unmanned vessels. IMAS utilizes artificial intelligence, machine learning, and Internet of Things (IoT) technologies to provide real-time navigation guidance, helping operators minimize risks associated with inexperience and improving situational awareness. The system significantly reduces fuel consumption and carbon emissions, with potential savings of up to 25%, and mitigates wave slamming impacts by as much as 70%. This approach not only protects crew and passengers but also minimizes damage to vessels and equipment, ensuring a safer and more comfortable marine experience.

Mussila

Grant in 2019
Mussila is an Icelandic EdTech company focused on providing innovative digital learning solutions for children, specifically in music education. The company employs a unique Learn, Play, Create methodology that combines gaming with classical music courses to engage children in learning music through enjoyable exercises. Mussila's award-winning apps are designed to keep children motivated while they learn to play musical instruments, fostering creativity and a love for music in a fun and interactive way.

SagaNatura

Grant in 2019
SagaNatura is an Icelandic biotech company that specializes in the development, production, and export of health products derived from premium Icelandic ingredients. The company focuses on the organic herb Archangelica Angelica and high-quality Astaxanthin, offering a range of consumer products that are safe, vegan-friendly, and of Icelandic origin. SagaNatura operates under two primary brands, SagaMedica, established in 2000, and KeyNatura, launched in 2014. The company aims to promote healthier lifestyles through its clean-label nutrition products, which address various health issues, including vision, skin health, energy, and concentration. By leveraging Iceland's pristine environment, SagaNatura is committed to providing high-quality health solutions that contribute to the well-being of consumers.

Trackwell

Grant in 2019
Trackwell Ltd, established in 1996 in Iceland, specializes in developing wireless communication solutions and is recognized for its expertise in mission-critical systems for telecom operators and government agencies. The company offers Mobile Resource Management (MRM) solutions as a software as a service (SaaS), equipping enterprises with tools to effectively manage their resources, including employees, vehicles, vessels, and other mobile assets. Trackwell's comprehensive suite of software includes fleet tracking, field workforce management, and specialized systems for fishing companies, enabling clients to gain real-time visibility into their operations. With hundreds of companies utilizing Trackwell MRM systems to oversee thousands of employees and a significant number of vehicles across various domains, the company has established itself as a leading provider in the resource management sector.

Asco Harvester

Grant in 2018
Asco Harvester produces a marine mower that mows marine vegetation by the seacoast along with cleaning waste and garbage which increasingly piles up in vulnerable places. Asco is easy to manage and has alot of safety equipment on board. Asco is solid, highly technical and has been modified by innovative developments in recent years. Asco is suitable both for water catchments and in difficult weather conditions at sea thus the Asco reaches different target groups. Asco is designed and constructed from scratch in Iceland. All types of Asco have similar characteristics, therefore most equipment can be used in various Asco types.

Fjolblendir

Grant in 2018
Fjölblendir ehf is a research and development company based in Kópavogur, Iceland, with facilities in Ireland. The company specializes in the invention and development of fuel systems and carburetors utilizing its novel Total Combustion Technology (TCT). This innovative TCT-based fuel system is specifically designed for small off-road engines (SORE), enabling them to comply with EPA phase III regulations without requiring engine modifications or the use of catalysts. Fjölblendir aims to create fuel systems that are not only straightforward to manufacture and calibrate but also generate lower emissions compared to conventional systems.

Seafood IQ

Grant in 2018
Seafood IQ is an Icelandic, award-winning Seafood-tech venture that was founded in 2015. They are seafood veterans and P.h.D level technologists that believe, by turning the complex into simple with smart technologies they can create the tools needed to increase trust, comfort, and profit within the seafood value chain. Their team is developing the worlds’ only data platform that combines IoT/RFID, Blockchain, and artificial intelligence to create a new level of trust based on unified digital identities, real-time temperature monitoring and cryptographed background information of every box of fish that is manufactured, transported and then sold into the marketplace.

Memento Payments

Grant in 2018
Memento Ehf is a developer of a cloud-based social payment platform aimed at enhancing the relationship between banks and their customers. Founded in 2014 and based in Reykjavík, Iceland, the company provides a comprehensive software toolkit and mobile payment application that can be seamlessly integrated with existing banking infrastructures. This platform enables banks to launch wallet and peer-to-peer payment services on both iOS and Android devices, facilitating a more engaging and user-friendly banking experience. Memento's vision is to create a Social-to-Bank Relationship Platform, recognizing the importance of technology and regulatory advancements in the financial sector. By focusing on building strong, integrated relationships within consumers' social lives, Memento seeks to empower financial institutions to adapt and thrive in a rapidly evolving fintech landscape.

Fisheries Technologies

Grant in 2017
Fisheries Technologies is an Icelandic company specializing in the field of fisheries management on a governmental level. The company's main focus is on data collection procedures and related information systems.

GeoSilica

Grant in 2017
geoSilica, founded in 2012 by Fida Abu Libdeh and Burkni Pálsson, originated from their academic research in energy and environmental engineering at the University of Iceland. The company began operations at the Hellisheidi Power Plant, collaborating with ON Energy to exploit the mineral-rich geothermal water. Through a proprietary two-step production process, geoSilica enhances the concentration of silica in the geothermal water without altering its chemical composition, subsequently replacing it with clean groundwater to produce highly pure silica particles. The production process is entirely chemical-free. In late 2014, geoSilica launched its first product, a liquid silica supplement derived from 100% natural ingredients, aimed at promoting health benefits for hair, skin, bones, and muscles. The company is also actively developing new products to expand its offerings.

ErkiTónlist

Grant in 2017
ErkiTónlist was founded in 1985 to promote creative endeavours in music, especially those that for one reason or other did not obtain commercial support. ErkiTónlist sf has issued several LPs and CDs with experimental and theatre music, constructed the MIC database for Icelandic music – www.mic.is, produced music videos for experimental music, organized seminars for young musicians – emphasizing on computer music, initiated and organized the biannual ErkiTid – the first electronic music festival in Iceland, supported the development of CALMUS project , a computer program for musical composition, operated a studio for recording, sound design, video production and programming environment for CALMUS, and released CDs with classical as well as contemporary music.

SagaMedica

Grant in 2017
SagaMedica is an Icelandic manufacturer of natural dietary supplements, established in 2000. The company specializes in herbal medicinal products that address common health issues such as sore throat, memory enhancement, and urinary frequency. Drawing on a rich history of herbal remedies used by their ancestors for over a millennium, SagaMedica sources its herbs, particularly angelica archangelica, from Iceland's pristine environment. The company emphasizes eco-friendly harvesting practices and bases its offerings on extensive academic research, ensuring that all products have proven efficacy. By focusing on natural ingredients and a deep connection to Icelandic nature, SagaMedica aims to provide effective solutions for health and vitality.

Stalsmidjan Framtak

Grant in 2017
Stalsmidjan Framtak provides automated anode fork repair system for the aluminium rodding plant. The history of Stalsmidjan ehf. extends back to the year 1933. Ship repairs and conversions have always been the mainstream of the company's operations. The first steel boat to be built in Iceland was built by Stalsmidjan in 1955, a tugboat with 1000 hp main engine, for the Reykjavík Harbour Authorities. In 1962 Stalsmidjan also built the first Icelandic steel fishing boat. There is a long ship building tradition in the company, which has constructed and modified a total of 36 steel vessels, up to 68 meters in length. Stalsmidjan operates its own slipway in Reykjavík Harbour and a carpenter’s workshop, specialized in ship works and renovations of older woodwork. Stalsmidjan has wide experience in new buildings, improvements and maintenance work both for hydro electric power stations and steam turbine stations as well as in energy distribution systems. Framtak ehf. was founded in the year 1988. In the year 2000 Framtak bought the company Blossi hf, and established the daughter company Framtak-Blossi ehf. This company covers specialized diesel-tuning and automotive workshops, and is authorized as "Bosch Diesel Centre" in Iceland. It also operates a retail shop and services for the metal industry. Earlier, the main focus was on the marine sector and Framtak has covered some of the largest and most complicated machinery repair and installation projects, both for Icelandic and foreign owners, but later the land-based industry and the Icelandic power industry became more important factor in the company’s activities. This change in policy lead to contracts with prime companies in the power supply sector, like Orkuveita Reykjavikur, HS Orka, and Landsvirkjun, among others, and Framtak has undertaken and overseen some of the largest and most complicated geothermal power plant projects in Iceland in the recent years. In December 2006 Stalsmidjan bought all shares in Framtak and Framtak-Blossi ehf. and henceforth they worked closely together, with mutual office and workshop facilities in new housing in Gardabaer and a big workshop at Grundartangi. In 2013, Stalsmidjan and Framtak merged as Stalsmidjan – Framtak ehf. and is now one of the biggest company of its type in Iceland, offering a wide range of services and solutions in the machine, shipping and metal industry.

Dohop

Grant in 2017
Dohop Ltd. is a technology provider based in Reykjavik, Iceland, specializing in travel and aviation solutions since its founding in 2004. The company operates a travel search engine that enables users to find the most affordable flights, hotels, and car rentals. Its offerings include Dohop Connection Search, which customizes flight searches for specific airlines or airports, and a flight search solution designed for airlines and airport websites. Additionally, Dohop provides GatwickConnects, allowing passengers to book connections between flights from different airlines at Gatwick Airport in a single transaction. Recognized for its innovative approach, Dohop develops solutions in virtual interline technology and has collaborated with various airlines and alliances, streamlining the process of creating connecting itineraries and enhancing travel connectivity.

Men&Mice

Grant in 2017
Men&Mice specializes in network management solutions tailored for enterprises, service providers, and small businesses, focusing on DNS, DHCP, and IP address management (DDI). Founded in 1990 and headquartered in Reykjavik, Iceland, the company offers a comprehensive suite of software modules, including DNS management, IP address management, and DHCP management, which enable users to maintain centralized control over their network infrastructure. Additionally, Men&Mice provides DNS analysis and monitoring tools that enhance network reliability and security, reducing the risk of DNS failures and improving performance against threats like DDoS attacks. The company also extends its services by offering consulting, DNS security assessments, and training. With operations in the United States and Europe, Men&Mice is well-positioned to address the challenges faced by medium to large global organizations in managing their network infrastructures.

Genis

Grant in 2017
GENIS is a biotechnology company headquartered in Siglufjörður, Iceland. They strive to discover, develop and commercialize novel and life-changing products, supplements and medical devices derived from crustacean exoskeletons. The GENIS team has been developing cutting-edge research on the production of chitin, chitosan, and short chain chitosan for two decades. Their mission is to leverage this accumulated body of world-class scientific research with the intent of providing life-altering benefits for individuals.

Rafnar

Grant in 2017
Rafnar is a boat manufacturing company that specializes in designing and producing vessels with exceptional seakeeping performance. They cater to both passenger and crew needs, offering a range of leisure, professional, and tactical boats. Notably, they have collaborated with the Icelandic Coast Guard and Icelandic Search and Rescue Association, demonstrating their commitment to safety and reliability in challenging marine environments.

Carbon Recycling International

Grant in 2017
Carbon Recycling International Inc. specializes in producing renewable methanol from carbon dioxide, hydrogen, and electricity, contributing to energy storage and fuel applications. The company has developed a unique technology known as Emissions-to-Liquids, which allows for the direct synthesis of methanol from carbon dioxide, along with large-scale water electrolysis and flue gas purification processes designed to achieve zero CO2 emissions. Its renewable methanol, marketed under the brand name Vulcanol, is sourced from renewable electricity derived from hydro, geothermal, wind, and solar energy. Founded in 2006 and headquartered in Kopavogur, Iceland, the company provides its innovative technology to the power generation and industrial production sectors, enabling more sustainable production methods and the creation of valuable products from waste gases and renewable energy.

Laki Power

Grant in 2016
Laki Power ehf, founded in 2015 and headquartered in Reykjavik, Iceland, specializes in eco-friendly power solutions through research and development. The company has developed an innovative grid inspection solution that allows for the fast charging of drones directly on high-voltage power lines, facilitating continuous and autonomous inspections in remote areas. This technology addresses challenges such as icing, wildfires, and grid congestion by enabling real-time monitoring of overhead power lines. Laki Power's offerings include monitoring systems that utilize optical and thermal cameras, weather stations, and line sensors, all designed to operate without external power sources like solar panels or diesel generators. The company is actively partnering with leading grid operators to implement stationary monitoring solutions at critical grid points.

KeyNatura

Grant in 2016
KeyNatura EHF. is an integrated biotech company based in Kopavogur, Iceland, specializing in the production of natural astaxanthin products. These products are designed to combat oxidative stress caused by free radicals, which can damage cell structures. KeyNatura employs a fully contained and easily controllable production process that emphasizes sustainability and utilizes renewable resources. Through extensive research and development, the company has perfected its extraction techniques from algae, resulting in highly active and stable astaxanthin with an extended shelf life. Additionally, KeyNatura collaborates with partners to develop new combination products and formulations for food supplements and nutraceuticals, ensuring high-quality delivery while minimizing contamination risks through a clean label in-house process.

Thor-Ice

Grant in 2016
Thor Ice Chilling Solutions ehf. specializes in the development and management of Slurry Ice systems designed for the rapid chilling of various food products, including fish and poultry. Established in 2002, the company has focused on innovative technology known as flow ice, which enhances the chilling process by efficiently reducing harmful bacteria in meat without the use of chemicals or pharmaceuticals. Thor Ice collaborates with scientists and food research institutes in Iceland, Denmark, and Holland to create solutions that improve the freshness, quality, and safety of food products. By facilitating effective chilling throughout the entire food value chain—from harvesting to distribution—Thor Ice aims to enhance food safety and quality while promoting environmentally friendly practices in the food processing industry.

Oxymap

Grant in 2015
Oxymap ehf. is an Icelandic company that specializes in imaging products and services for eye-care professionals and clinical researchers. Founded in 2002 and based in Reykjavik, Oxymap's flagship product, the Oxymap T1, is a non-invasive oximeter designed for assessing retinal metabolism. This device, which functions as an add-on to a fundus camera, enables the measurement of retinal oxygen saturation and vessel width, providing vital metabolic and structural imaging of the retina. Oxymap's offerings facilitate the evaluation of various eye diseases, including diabetic retinopathy, age-related macular degeneration, and glaucoma. The company collaborates with numerous universities and research institutions across the United States and Europe for product installation and research purposes. Oxymap emphasizes continuous improvement and customer support, guided by an ISO 13485-based quality management process, ensuring that its products meet the evolving needs of the eye-care community.

Polar Fishing Gear

Grant in 2015
Polar Fishing Gear is an innovative company based in Iceland. We specialize in design, contracting, and sale of high efficient trawl doors suitable for bottom, semi-pelagic, and pelagic fishing.
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