A wide range of companies operate within the K64 core development areas, each contributing to the region’s evolving landscape. In the coming months, we will highlight some of these organizations to showcase the diverse activity taking place in Suðurnes and the broader K64 impact zone.
Algalíf, a biotechnology company based in Reykjanesbær, is Iceland’s largest producer of microalgae and a global leader in the production of natural astaxanthin—a powerful antioxidant derived from the microalgae Haematococcus pluvialis.
Operating from a cutting-edge, 13,000 m² facility in Ásbrú, Algalíf has earned international recognition for its high-quality astaxanthin, produced sustainably using 100% renewable energy in a controlled indoor environment. The company employs around 80 people, with roughly a quarter holding degrees in higher education.
Algalíf grows its algae in an advanced system of 500 kilometers of glass tubes, illuminated by 30,000 custom-designed lights powered entirely by green energy.
In recent years, the company has tripled its production capacity, making it the largest producer of natural astaxanthin in Europe and one of the largest globally.
Founded in 2012, Algalíf set out to identify economically viable algae species capable of producing high-value products. Iceland offers ideal conditions for this: abundant clean water, affordable green electricity, and a stable, cool climate that supports consistent production.
The company also benefits from strong local support and leverages Iceland’s clean image and scientific reputation in its global marketing efforts.
K64 Plan Boosts Innovation and Growth
Algalíf is part of the K64 development plan, which aims to drive sustainable innovation and economic growth in the Keflavík Airport region through 2050. Led by Kadeco, the plan is a collaborative effort between municipalities and stakeholders to build a thriving, future-focused community.
Orri Björnsson, CEO of Algalíf, highlights the importance of K64: “The greatest strength of the K64 plan is its support for diverse business development and innovation in Suðurnes. It creates real opportunities for companies to grow in a strong community that values sustainability, knowledge, and cooperation.”
According to Orri, Algalíf’s success is grounded in its commitment to quality, science, sustainability, and Icelandic origin: “The fact that we grow our algae using domestic renewable energy in a clean environment is central to our marketing. Iceland’s natural advantages have been crucial in securing our position in a highly competitive international market.”
