Icelandic Technology Development Fund
Reykjavík, Capital Region, Iceland
Overview
The role of the fund is to support research and development activities, which aim towards innovation in Icelandic industry. The Technology Development Fund is a competitive fund which issues its calls for proposals twice a year.
- Total investments
- 1
- Lead investments
- 0
- Investments · 12mo
- 1
- Active investors
- 0
Investment portfolio
- SNERPA Power
Participated · Grant · Aug 2026
Founded in January 2022 by former power-system and operations experts, SnerpaPower provides a platform that links factory operations directly to electricity contracts and markets to forecast demand and automatically adjust consumption. Its software enables industrial customers to shift or reduce non-essential electricity use to lower costs or receive payments for flexibility while production continues. The company currently manages more than 10 TWh of industrial electricity across roughly 15 Nordic locations, representing over 1% of the electricity used by industry in the EU. SnerpaPower focuses exclusively on high-consumption industrial customers rather than a wide variety of assets. With the latest €3.4 million financing (plus prior rounds including a €2.2 million seed in 2023), the company plans to expand its platform throughout Europe. Founders cite their Icelandic renewable-energy context and system-operator experience as core to the business model.
Team
No current team members are available.