Northeast Iceland has huge renewable energy sources (hydro and geothermal), some of which are already harnessed to provide power to international factories in Húsavík and Akureyri regions. The highest temperature geothermal steam is most lucrative for electric power production, suitable for larger industries, while the lower temperature heat is abundantly available for direct hot water utilization, with current examples including fish farming, health spas, swimming pools and geothermal carrots (yes, geothermal carrots!). The ocean is an abundant source of life and resources, already giving birth to innovative biotech companies.