Iceland magma research initiative secures key funding and support
Agreement on the operation of Krafla Magma Testbed signed at Krafla on September 26, 2024. From left to right: Einar Mathiesen, Executive Vice President of Wind and Geothermal Power at Landsvirkjun, Guðlaugur Þór Þórðarson, Minister of the Environment, Energy and Climate, Björn Þór Guðmundsson, Director of KMT and Hera Grímsdóttir, Managing Director of Research and Innovation at Reykjavík Energy. (source: KMT)
Carlo Cariaga
28 Sep 2024
The Krafla Magma Testbed has signed a new agreement securing critical industry and government support for the groundbreaking magma research initiative.
Iceland-based Krafla Magma Testbed (KMT) has secured wider industry support with the signing of an agreement with the Icelandic Ministry of Environment, Energy, and Climate, Landsvirkjun, and Reykjavik Energy. This agreement marks a new phase for KMT as Reykjavik Energy joins the project, alongside the continued support from the Icelandic government and Landsvirkjun, The National Power Company of Iceland.
KMT is a pioneering international initiative aimed at establishing the world’s first magma observatory, providing unprecedented access to magma for scientific research and technological development. Building on the Iceland Deep Drilling Project (IDDP-1), where magma was encountered at a depth of 2.1 km, KMT is dedicated to harnessing the potential of near-magma energy. The project’s goal is to develop next-generation super-hot geothermal technologies, positioning Iceland as a global leader in this emerging field.
KMT aims to revolutionize the development of geothermal system by tapping into super-hot geothermal energy from extreme heat near magma. Through ongoing and future research work, KMT can help in significantly enhancing geothermal energy extraction, creating new pathways for cleaner, more efficient energy production on a global scale. The project also seeks to improve volcanic monitoring and provide critical insights into magma behavior.
RELATED: ThinkGeoEnergy interview with Björn Þór Guðmundsson, CEO of Krafla Magma Testbed.
As a collaborative effort, KMT brings together engineers and scientists from around the world, combining expertise to push the boundaries of what is possible in geothermal energy and volcanic research. With the support secured by today’s agreement, KMT is poised to continue its groundbreaking work and drive forward the development of super-hot geothermal energy.
Source: Krafla Magma Testbed
