ICELANDIC NEW ENERGY LTD

Their core work

Icelandic New Energy is a Reykjavik-based SME focused on the real-world deployment and commercialization of hydrogen refueling stations (HRS) and fuel cell electric vehicles (FCEVs) in the Nordic and European market. They work at the intersection of technology and market adoption — analyzing consumer behavior, modeling total cost of ownership (TCO), and conducting life cycle assessments (LCA) to build the commercial case for hydrogen transport. Operating from Iceland, a country with near-total renewable electricity generation, gives them a distinctive vantage point on green hydrogen production and demonstration. In their later project work, they expanded their scope to include hydrogen's role in grid balancing and stationary energy storage, signaling a broader energy system perspective.

What they specialise in

How they've shifted over time

In their first project (H2ME, 2015), the focus was squarely on getting hydrogen mobility off the ground: deploying HRS networks, identifying early adopters, and making the economic and environmental case through TCO and LCA analysis. By the second project (H2ME 2, 2016), the vocabulary shifted toward next-generation vehicle solutions, high utilization rates, and — notably — grid balancing and energy storage, suggesting the organization was thinking beyond transport into hydrogen as a flexible energy carrier. The overall trajectory is from market commercialization of hydrogen mobility toward hydrogen's systemic role in the energy transition.

Icelandic New Energy is moving from hydrogen transport deployment specialist toward a broader energy system integrator, making them increasingly relevant to power grid and renewable energy storage collaborations — not only mobility consortia.

How they like to work

They have participated exclusively as consortium partners across both projects, never in a coordinating role — a pattern consistent with a specialist SME that contributes specific market or deployment expertise to larger pan-European programs. Both H2ME projects are large-scale EU demonstration initiatives, and the 68 unique partners they have connected with across just 2 projects confirms participation in very wide, multi-stakeholder consortia. This suggests they are valued as a deployment node or national demonstrator, not as a project manager, and that working with them means plugging into an already well-networked hydrogen mobility ecosystem.

With 68 unique consortium partners across 11 countries from only 2 projects, Icelandic New Energy sits inside two of Europe's broadest hydrogen mobility demonstration networks. Their connections are concentrated in the hydrogen transport and FCH (Fuel Cells and Hydrogen) funding community, spanning multiple European countries with a Nordic and northern European geographic lean.

What sets them apart

Iceland's energy profile — nearly 100% renewable electricity from geothermal and hydro — makes Icelandic New Energy an unusually credible demonstrator for genuinely green hydrogen: their deployment data comes from a context where hydrogen is not a theoretical clean fuel but a practical one. This gives their commercialization and consumer behavior findings a real-world legitimacy that organizations in fossil-heavy grids cannot replicate. For consortium builders seeking a Nordic demonstrator site with green credentials and an established hydrogen infrastructure track record, they fill a role few other SMEs can.

Highlights from their portfolio

• H2ME 2
  The larger and longer of the two projects (EUR 567,111, running to 2023), H2ME 2 extended the hydrogen mobility scope into grid balancing and energy storage — signaling Icelandic New Energy's evolution into broader energy system roles.
• H2ME
  The foundation project that established Icelandic New Energy's EU hydrogen credentials, covering HRS deployment, FCEV early adoption, consumer behavior analysis, TCO, and LCA within a major pan-European hydrogen mobility demonstration.