The financial crisis that brought Iceland to the brink of bankruptcy has postponed this volcanic island’s ambitious dream of ditching fossil fuels and transforming itself into the world’s first hydrogen-based economy. Proponents of a government-sanctioned scheme to derive hydrogen from water and use it to power all ground transportation as well as Iceland’s large fishing [...]

Iceland’s National Energy Authority (NEA), which recently launched the country’s first-ever licensing round, said it received bids from two companies for exploration rights to the northern Dreki area. “This is a big day in the history of Iceland’s energy resources utilization,” said Industry Minister Katrin Juliusdottir as quoted by the Icelandic daily Morgunbladid. NEA said [...]