Singapore, 13 June 2022 – Mr. Sigsteinn Gretarsson has stepped down as CEO of Arctic Green Energy.


The company has appointed Mr. Sigurdur Atli Jonsson as the new CEO. Mr. Jonsson joined Arctic Green Energy, as Board Director and Vice Chairman in 2017. He has an extensive management experience and was previously CEO of Kvika bank in Iceland.


Mr. Jonsson will succeed Mr. Gretarsson who joined Arctic Green Energy as CEO in 2016. During his tenure the company has grown its joint venture in China significantly, and it is now the worlds’ largest and fastest growing geothermal district heating company.


Arctic Green Energy and GIC have recently started an ambitious strategy alliance for clean energy and decarbonization. GIC has become an equity partner in Arctic Green Energy, committing a substantial equity funding to support the expansion of the company in Asia and Europe.


“Sigsteinn has led the company through an expansion of our business in China which has demonstrated on a massive scale that geothermal energy is a non-polluting, sustainable, and domestic solution for energy transition in the heating sector,” said Haukur Hardarson the Chairman and Founder of Arctic Green Energy. “We are excited to welcome Sigurður Atli, who has also been instrumental in his previous role at Arctic Green Energy as the new CEO. He is a successful company leader and will bring valuable expertise to the company as we expand our handprint.”


About Arctic Green Energy

Arctic Green Energy ( is a leading renewable energy company specialising in the various applications of geothermal energy, from district heating and cooling to power generation. The company is also expanding into co-generation with other renewable energy sources and has established university level programs to train new generations of geothermal experts. Based in Singapore and with operations in China and Europe, Arctic Green Energy has its roots in the well-established geothermal sector in Iceland and maintains a knowledge center there.