Planned Carbon Fiber Factory in Iceland Sparks Interest Skip to content

Planned Carbon Fiber Factory in Iceland Sparks Interest

Representatives of an American carbon fiber manufacturer traveled to Iceland recently to familiarize themselves with plans to construct a carbon fiber factory in Saudárkrókur, north Iceland, and were allegedly very interested in the project.

From Saudárkrókur. Photo by Páll Kjartansson.

An association to prepare the launch of carbon fiber production in Iceland was founded over a year ago by Gasfélagid, owned by former Glitnir Bank CEO Bjarni Ármannsson, the Kaupfélag Skagfirdinga cooperative and the Skagafjördur municipality, Morgunbladid reports.

These companies originally contributed ISK 25 million (USD 198,000, EUR 147,000) in equity, of which only little is left, and the original agreement is also about to expire.

However, according to chairman of the employment committee of Skagafjördur Snorri Styrkársson, who has a seat on the board of the association, it is highly likely that the agreement will be extended and the equity increased so that research and other preparations can continue.

“We believe we have made a remarkable achievement by obtaining better knowledge of the position of this industry and establish relations with parties who produce carbon fiber,” Styrkársson said.

Until now, the association’s representatives have traveled to the United States and other countries to learn more about carbon fiber production there.

Styrkársson said he hoped that positive stages will be reached next summer so that the carbon fiber factory can be built in Saudárkrókur. Based on an annual production capacity of 1,500 to 2,000 tons, the factory could create at least 60 new jobs.

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