Entrepreneurs put an emphasis on the circular economy

Seven excellent and diverse start-ups have been selected to participate in Hringiða 2023, a business accelerator and collaboration platform for companies in Iceland, which put all the weight on the circular economy and ensure that resources are kept in the economy.

The review of applications was handled by a steering committee, which is composed of representatives of Hringiða's sponsors and partners. The group includes experienced people from the business world who work in the promotion of the circular economy and green solutions. Diverse and promising teams were sought to tackle climate challenges with the circular economy as a guiding principle. 

The discussion about the circular economy has been in focus for the past few years and is becoming more and more urgent with each passing year. Hringiða is a necessary project in that discussion and has in a short time managed to establish itself as a solution to make it easier for start-up companies to highlight and develop solutions to challenges related to climate issues and to take the lead on an international level in environmental matters. 

Hringiða is based on an international model and is a proven process where start-ups are given access to targeted training and a wide network of experts from the business world. Kolfinna Kristínardóttir, Hringiða's project manager, is being followed. "Hradallinn is a powerful collaboration platform for circular companies in Iceland that gives individuals the opportunity to meet other people who are interested in and work within the circular economy. The participants of Hringiða thus gain a wide network of mentors from the business world, in addition to being able to apply for grants from European funds, such as LIFE and Horizon Europe." 

March Eco

Mar Eco stands for Marine Ecological Solutions, but the goal is to work on environmentally friendly solutions in the production and use of fishing gear. Recycled plastic waste from the sea is used, which supports the blue economy and environmentally friendly fishing. 

The team includes Atli Már Jósafatsson, Gunnar Már Atlason and Andrea Thormar. 


Melta offers recycling services and the production of organic fertilizers from bio-waste in rural areas and municipalities.

The team includes Björk Brynjarsdóttir and Júlía Brenner. 


Orb develops technology to measure the carbon sequestration of forests in an inexpensive and accessible way to promote responsible carbon offsets and the production of certified carbon units.

The team includes Íris Ólafsdóttir and Jón Arnar Tómasson. 

Resea Energy

Resea Energy is a research and development company aiming at the production of bio-fuel from the rapid growth of cultivated seaweed.

The team includes Páll Gunnarsson and Ingi Björn Sigurðsson.


Alor works on the development and production of environmentally friendly aluminum batteries and energy storages of different sizes, i.e. from small batteries and accumulators to large energy storage in container sizes.

Behind Alor are Linda Fanney Valgeirsdóttir and Rúnar Unnþórsson. 


Bambahús are greenhouses that contribute to the strengthening of the circular economy, where liquid packaging that would otherwise be shipped out of the country and landfilled is reused. The houses are light, sturdy, durable and specially designed with the Icelandic climate in mind. 

The team includes Reynir Hjálmarsson, Jón Hafthór Marteinsson and Sigrún Arna Gylfadóttir.

RVK Tool Library memorabilia 

The Cycle Museum provides communities with fair and affordable access to tools and other items.

The team includes Anna De Matos and Kristófer Henry.

The accelerator is managed by KLAK, which for many years has provided assistance in the development of business ideas and brought together a group of stakeholders with value creation as a guiding principle. Hringiða's sponsors are the City of Reykjavík, the Ministry of the Environment, Energy and Climate, Orkuveita Reykjavíkur, Faxaflóahafnir, Terra, Ölgerðin and the Swedish Confederation of Industry. Hringiða's partners are Rannís, Breið vejðurfélag, Evris, Sjávarklassinn, Grænvangur and Orkuklassinn.