About
From proof to power
Eldar Power is a superhot geothermal technology and project-development company taking proven potential into commercial deployment.
Foundation
Seventeen years from discovery to commercialisation
IDDP-1 at Krafla
IDDP-1 reached superhot conditions at Krafla and demonstrated extraordinary power potential from a single well.
Krafla Magma Testbed
KMT united 24 Icelandic and international partners to advance the science and engineering required for controlled superhot operation.
Eldar Power
Eldar combines Icelandic superhot development experience with well technology and qualification practice from oil and gas, to build deployable technology and bankable power projects.
Business model
Scale without funding every megawatt
Eldar develops the technology and brings projects from resource to execution with resource holders, manufacturers, contractors and capital partners.
Each power project sits in a separately financed project company. As the technology is proven, outside capital funds a larger share of deployment and Eldar earns more through project development, technical services and technology revenues, while retaining ownership selectively.
Eldar’s economics grow with megawatts deployed.
Build the capability
Integrated designs, data, engineering tools and operating methods.
Prove it in projects
Pilot well and first commercial modules.
Finance assets separately
Resource holders and outside capital fund individual project companies.
Expand across markets
More projects, more recurring revenues and less Eldar capital per megawatt.
Team
Experience where it matters
A focused senior team in Iceland works alongside leading international specialists in drilling, completions, materials, reservoir engineering, surface systems, power generation and project finance.
The people making design decisions stay connected to field execution, so learning moves quickly from the wellsite into the next design.
Björn Þór Guðmundsson
Björn is taking superhot geothermal from Icelandic proof to global commercial deployment. His work as CEO of the Krafla Magma Testbed has brought together Icelandic and international specialists to address the engineering challenges exposed by the Iceland Deep Drilling Project’s IDDP-1 well at Krafla. He founded Eldar to carry that experience into commercial development of wells and surface systems for superhot conditions. He holds an MSc in Geology and Geothermal Utilisation from the University of Iceland and an MBA from Reykjavík University.
Drilling, wells, materials, reservoir and surface systems
The company draws on senior specialists across high-temperature drilling, cementing and well integrity, materials performance, reservoir engineering and surface flow assurance, in Iceland and internationally.