Stakksberg ehf. is a company owned by Arion Bank, which in early 2018 took over the operations of the silicon plant at Helguvík from the estate of United Silicon. The Environment Agency of Iceland had shut down operations at the plant in September 2017 owing to shortcomings which resulted in breaches of the plant’s operating licence. It was clear that the plant was in many respects not capable of producing silicon and this was one of the reasons that operations were halted. 

Like many silicon plants around the world, the plant is located close to residential areas, in this case the town of Reykjanesbær. Owing to inadequacies in its operations before it was closed down, the plant has been the source of controversy in the local community. The goal of Stakksberg is to take corrective action so that the plant can operate at the highest standards in respect of production quality, facilities and employee safety and environmental impact, and in accord with its immediate environment.

All necessary operating permits and an agreement on electricity supply have been transferred to Stakksberg, and the company has devised an action plan to remedy operations at the plant, which has been approved by the Environment Agency of Iceland. Stakksberg is also working on a new environmental impact assessment. The new EIA will apply to the corrective action and modifications to the plant which are designed to meet the Environment Agency of Iceland’s demands under the action plan. Arion Bank aims to sell Stakksberg to a company which has experience and knowledge of running silicon plants.