If all goes according to plan, a new factory will open near Reykjavík, turning old tires into oil, gas and solid fuel.
The proposed factory, on the harbor side in Helguvík, could create 70 jobs. Those behind the project have already applied for a plot from the Reykjanesbær municipality.
It is a company called G2 Brenna Holdings which plans to open the factory in Helguvík, which will recycle chipped tires into fuel. The proposal was discussed by the Reykjanesbær employment and harbors committee last week, RÚV reports. A decision was not made.
G2 Brenna’s Ingvar Eyfjörð remains tight lipped in public about details of the proposal, but did confirm that it is in progress and that it is financially backed by overseas investors. Experiments in techniques are already underway at an experimental factory at an undisclosed location. Ingvar would not be drawn on where the proposed factory would source its power. He says it should be possible to say more in two or three months’ time, when it will be known whether or not the project is going ahead.
Halldór Karl Hermannsson, Reykjanesbær harbor master, says that the idea has been presented in a form that would create 70 jobs and plenty of gas and oil. He says the idea has come far enough for the company involved to already be investigating an investment contract with the State.