The Canadian Deep Geothermal Coalition (CDGC) and ORKIS Energy Cluster Iceland (ORKIS) are pleased to welcome the Joint Statement between Canada and Iceland, which will accelerate geothermal energy innovation and deployment to advance clean energy and energy security.
The agreement establishes an Embassy-led Canada-Iceland geothermal network that brings together the private sector, Indigenous partners and relevant government stakeholders to identify opportunities for collaboration, including in northern and remote communities.
The Joint Statement is an important step forward on geothermal collaboration between Canada and Iceland, complementing the memorandum of understanding (MOU) signed between the CDGC and ORKIS in June 2026. The MOU calls on the CDGC and ORKIS to collaborate in propelling geothermal energy to more widespread development and use.
Specifically, the June 2026 MOU aims to achieve the following:
- Exchange best practices in geothermal development, including in technology and innovation, regulation, financing, and policy;
- Jointly promote investment in geothermal in both Icelandic and Canadian markets, by reaching out to capital markets and institutional investors and garnering the attention of the financial sector;
- Identify opportunities for joint/coordinated research, as well as joint development and/or demonstration projects;
- Develop joint workforce, training, and capacity building to identify skills and the educational pathways required for next-generation geothermal development;
- Collaborate on educational content and communications materials to highlight geothermal energy’s role in the energy transition.
Geothermal energy has been moving forward across the world as next-generation technologies transform what’s possible. Canada and Iceland are actively driving this transformation through innovative technologies and projects. As electricity demand rises amidst growing geopolitical instability, Canada and Iceland can meet the moment by advancing geothermal energy.
“Energy cooperation is one of the most practical ways for Canada to deepen ties with trusted allies. Iceland has shown the world what a country can build when it commits to geothermal, and Canada has one of the world’s most skilled drilling and subsurface workforces. Together, we can move faster than either country could alone,” said Peter Massie, Director of the Geothermal Energy Office at the Cascade Institute. The Cascade Institute acts as Secretariat for the Canadian Deep Geothermal Coalition.
Sverrir Jan Norðfjörð, Managing Director of ORKIS Energy Cluster Iceland, said: “Iceland has spent decades turning its volcanic geology into a reliable source of clean energy and valuable know-how. Canada has the opportunity to develop geothermal on a much larger scale, and by combining Iceland’s experience with Canada’s deep subsurface expertise, we can help move geothermal from proven potential to a major part of the next generation of energy systems.”
To arrange interviews, please contact Jax Jacobsen, Strategic Communications Lead, Geothermal, at the Cascade Institute (jax@cascadeinstitute.org), or Sverrir Jan Norðfjörð (sverrir@orkis.is).
About the Canadian Deep Geothermal Coalition (CDGC)
The Canadian Deep Geothermal Coalition was established in 2025 to bring together organizations committed to advancing deep geothermal energy in Canada. Coalition members span industry, Indigenous organizations, communities, academia, government, technology developers, and other stakeholders united by a shared vision: making Canada a global leader in geothermal energy.
About ORKIS Energy Cluster Iceland
ORKIS Energy Cluster Iceland is a collaborative platform bringing together Icelandic companies, research institutions, public organizations, and other stakeholders working across the energy sector. Building on Iceland’s long experience in geothermal energy, ORKIS supports collaboration, innovation, knowledge-sharing, and international partnerships that help advance geothermal and other sustainable energy solutions. ORKIS works to connect Icelandic expertise with international opportunities and partners, contributing to the continued development and global application of geothermal energy.
