IðunnH2

Founded in 2021, IðunnH2 is a private company headquartered in Suðurnesjabær, Iceland specializing in Hydrogen.

IðunnH2 is an Icelandic developer of power-to-liquid synthetic aviation fuel (eSAF) facilities. The company is building Iceland's first commercial eSAF plant, located 5km from Keflavík International Airport in the Reykjanes Peninsula. The facility will produce 70,000 tonnes per year of drop-in synthetic jet fuel from renewable electricity, water, and captured CO2 via the methanol-to-jet pathway. The project targets commercial operation in 2029 and is structured as infrastructure-grade finance with binding offtake agreements from Icelandair (45,000 tonnes annually from 2029) and Luxaviation (10,000 tonnes annually, 15-year term). The fuel delivers approximately 70-95% lower lifecycle CO2 emissions than fossil kerosene and is compliant with EU ReFuelEU Aviation mandates and CORSIA regulations. The company was founded in 2021 by Auður Nanna Baldvinsdóttir and Gylfi Már Geirsson.