geoSilica

Iceland
Keflavík, Southern Peninsula, Iceland, 235

Company profile

geoSilica company profile

The company was founded in 2012 by Fida Abu Libdeh, Burkni Pálsson, and Agnir ehf, as a result of Fida and Burkni’s thesis in energy and environmental engineering technology at the University of Iceland. In the autumn of 2012 geoSilica received a project grant from the Icelandic Technology Development Fund in order to begin the product development of its first product. One year later the company started operations at the Hellisheidi Power Plant in order to utilize the mineral rich geothermal water used by the plant. This has been done in cooperation with ON Energy, the operator of the power plant. geoSilica has developed a two-step production process. In the first step, the silica concentration in the separated geothermal water is increased many tenfold without changing the chemical composition of the water. In the second step, the geothermal water is gradually replaced by clean ground water from the area while keeping the silica concentration constant. The end product is highly pure silica in the form of extremely small silica particles in clean ground water. Absolutely no chemicals of any kind are used in the production. geoSilica’s first product was released late 2014, a liquid silica supplement made from 100% natural silica. As of now, geoSilica has already started developing a new product in order to increase its product range.

Business identity

Contact email
[email protected]
Phone number
(354)571-3477
Operating status
Active
Company type
For Profit
Employee range
11-50 employees
Revenue range
$0+
Founded
2012-01-01, Year

Headquarters

Postal code
235
Country code
IS
Continent
Europe

Capital profile

Funding and company signals

Funding stage
Early Stage Venture
Funding rounds
4
Total equity funding
$425,000
Last funding
Series A / $425,000 / 2019-01-26
Last equity funding
Series A / $425,000
Investors
3
Lead investors
3
Founders
2

Founders and investors

Founders

Burkni PálssonFida Abu Libdeh

Lead investors

EISMEALífsverkTechnology Development Fund

Investors

EISMEALífsverkTechnology Development Fund