The Governor’s Office of Economic Opportunity (GOEO) and the Department of Natural Resources (DNR) hosted an Icelandic geothermal business delegation in Utah to explore new partnership opportunities in the state’s energy industry. The delegation was led by Einar Tomassan, Iceland’s trade commissioner to the United States. It included businesses from the geothermal ecosystem and a representative from the Icelandic embassy.
The Governor’s Office of Economic Opportunity (GOEO) and the Department of Natural Resources (DNR) hosted an Icelandic geothermal business delegation in Utah to explore new partnership opportunities in the state’s energy industry. The delegation was led by Einar Tomassan, Iceland’s trade commissioner to the United States. It included businesses from the geothermal ecosystem and a representative from the Icelandic embassy.
The delegation’s agenda included a corporate recruitment presentation from GOEO’s economic growth team, business-to-business matchmaking with Utah geothermal companies, and a policy roundtable with state legislators. State officials also brought the Icelandic delegation to Milford in Beaver County to tour the Fervo Cape Station , opens in a new tab , the FORGE geothermal underground laboratory , opens in a new tab , and the PacificCorp Blundell Power Plant , opens in a new tab .
Iceland is a world leader in geothermal development , opens in a new tab and innovation. As Utah works to double its energy production in the next ten years , opens in a new tab , collaboration with Iceland offers essential policy insights and business partnerships in geothermal energy. While the state currently has the third-largest installed geothermal capacity in the nation, it is only producing 73 megawatts of geothermal power from the 49 gigawatts of estimated geothermal potential. This immense opportunity is a driving force in business innovation, such as Fervo’s next-generation energy project , opens in a new tab , and the state’s efforts to collaborate with international experts.
The Icelandic delegation’s trip directly resulted from the geothermal fact-finding mission to Iceland , opens in a new tab last June. Last year’s geothermal tour also resulted in an educational exchange agreement , opens in a new tab between Southern Utah University and Reykjavik University to help develop Utah’s geothermal workforce. It also led to the between Iceland and the state of Utah to collaborate in industry, academia, and energy.
This week’s incoming business delegation illustrates how energy diplomacy can create investment opportunities for the state and provide insight into effective policy. Utah and Iceland will continue to collaborate on energy development under the framework of our MOU.
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