Geothermal Research Cluster

The non-profit organization, Geothermal Research Cluster (GEORG), strives to promote sustainable research and development of geothermal resources to reduce the world’s reliance on carbon-based energy. GEORG aims to accelerate the adoption of geothermal energy globally and increase its value for society by bringing together various actors in the geothermal industry, such as academia, industry, and public authorities.

Through close collaboration among these three sectors, GEORG fosters interdisciplinary partnerships, particularly with socio-economic, volcanology, and agricultural partners. Additionally, GEORG has formed alliances with many respected international institutions, resulting in more comprehensive and closer collaborations on a global level.



  • Reduce worldwide GHG emission by contributing to a significant increase in sustainable energy production/utilisation from geothermal sources.
  • Make Iceland a case study for near-total energy independent and a carbon-neutral society.
  • Create a platform for entrepreneurship and the export of geothermal energy resources and education, both for partners in the group and the wider geothermal industry
  • Respectively related to Affordable and clean energy, industry, innovation and infrastructure, and climate action).
  • Contribute to the Sustainable Development Goals (SGD7, SDG9 and SDG13).

from the Chairman of the Board
and the Managing Director

Prof. Sigurður Magnús Garðarsson

Eng. Hjalti Páll Ingólfsson

We are delighted to present GEORG’s Annual Report for the year 2022, a year in which we have seen continued growth and maturity. The past year has been an exciting one for GEORG, and we are proud to report that we achieved a turnover of 106 MISK, representing a remarkable 14% increase from the previous year.


Impartial collaboration platform

Within GEORG, there are close interactions between academia, industry and public authorities, which has contributed to better collaboration within and between the three sectors. The cooperation focuses on furthering interdisciplinary collaborations, notably with partners from socio-economic, volcanology and agricultural disciplines. On the international level, GEORG partnered with many renowned international institutions, which have resulted in closer and more comprehensive collaborations.


The Board of Directors of GEORG is composed of nine representatives of GEORG’s members, a Chairperson and eight directors: four directors represent the universities and research organisations and four directors represent the energy companies and private sector. Members of the Board are elected for a term of two years.

The following individuals were elected as a BoD member at the General Annual Assembly on Thursday, April 7, 2022


  • Sigurður Magnús Garðarsson
    Sigurður Magnús Garðarsson Chairman of the Board

    University of Iceland

  • Bjarni Pálsson
    Bjarni Pálsson Landsvirkjun
  • Carine Chatenay
    Carine Chatenay Verkís
  • María S. Guðjónsdóttir
    María S. Guðjónsdóttir University of Reykjavík
  • Kristín Steinunnardóttir
    Kristín Steinunnardóttir COWI
  • Halldór Geirsson
    Halldór Geirsson University of Iceland
  • Rúnar Unnþórsson
    Rúnar Unnþórsson University of Iceland
  • Vala Hjörleifsdóttir
    Vala Hjörleifsdóttir Reykjavík Energy
  • Bjarni Gautason
    Bjarni Gautason Iceland GeoSurvey


We’d love to hear from you. Contact our team via E-mail, Facebook, Twitter or LinkedIn for any inquiries or visit the website About GEORGsection to learn more about us and further contact details. 

Financial Statements

Ongoing Projects

Shaping the future of geothermal wells in superhot contexts

The Clean Energy Transition Partnership

Showcasing high-level cooperation in the field of geothermal in Europe

Conquering the extreme through “Krafla Magma Testbed (KMT)” 

Reducing geothermal production emissions through “GECO” 

Supporting energy transition in Europe through the project office of “GEOTHERMICA”  

Completed European Projects

Increasing public acceptance of geothermal through a new financial model 

Contributing to European strategy work 

Excellence in communicating deep geothermal drilling through “DEEPEGS” 

Tackling environmental challenges through “GEOENVI” 


GEORG was founded in 2009 based on a successful proposal to the Centre of Excellence and Research Cluster Program of the Icelandic Centre for Research (RANNIS).  The proposal was a seven-year project with the purpose to create and build strategic opportunities in the geothermal sector and position Iceland at the fore front of the field by creating a stronger base for entrepreneurship.    

From the very beginning there was a strong emphasis to serve GEORG partners well and to create a sustainable cooperation platform, beyond the project duration.  This has now been achieved and GEORG has become a key player in bridging a critical gap between different geothermal communities and has evolved to become a self-sustained research-driven international geothermal non-profit organization.   

Thanks to the long-term vision and commitment of GEORG’s board and its operational team, GEORG has thrived and acts as an impartial collaboration platform by building bridges between Research, Industry, and Public Authorities, for the benefit of society. 




This online Annual Report is published solely online, GEORG reserves the right to update the report if any errors,
, and/or any other inconsistencies are to be discovered. 

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