Terms
- Announced
- 12 Jul 2022
- Instrument
- Grants
- Amount
- US$117mReported as EUR 115m, converted at 1.0203 USD/EUR (July 2022 average)
- Source
- ec.europa.eu
Parties
- Project developer
- Carbfix hf
- Recipient type
- Grant recipient
- Country
- Iceland
- Capital providers
Capital providers and the amount counted for each Party Role Amount Basis European Commission (Innovation Fund) Investor US$117m Sole provider: the whole transaction
Carbon
- Pathway
- Mineralisation
What happened
- EUR 115m per the CINEA project fiche for grant 101085993. The company release states no figure, only that the award covers about a third of project cost. A maximum grant disbursed against milestones, not advanced at signing.
Kumo note
- A maximum grant covering roughly a third of the Coda Terminal cost, disbursed against milestones rather than advanced at signing. It is storage infrastructure serving third-party CO2 rather than a removal pathway in itself, and the original Straumsvik siting was abandoned in March 2025 after local opposition.
Know more about this transaction?
Tell us what is missing or wrong, and where you read it.
Next step
Capital Connections
Meet the other side of deals like these.
Kumo introduces assessed projects to capital providers whose mandate fits, whichever side you are on.
Get started
Free to explore. No card required.
Terminal
Compare the transactions behind these figures.
Pricing, structures and comparables across Kumo's carbon finance dataset.
Explore the Terminal