Cowi targets Iceland with Mannvit acquisition

Reykjavík, Iceland. Cowi believes the country will be a green energy hub (Einar H. Reynis/Unsplash)
Danish international consultant Cowi today acquired Icelandic engineer Mannvit, a 280-person firm specialising in hydropower and geothermal.

Cowi believes Iceland will be a green energy hub for various industries thanks to its abundance of renewable resources like wind and geothermal.

It notes that the government there has boosted spending on infrastructure and green energy in recent years. (See further reading.)

“Since the green transition is a core pillar in our strategy, it makes sense to enter the Icelandic market,” said Henrik Winther, executive vice president of Cowi in Denmark, who will lead the two companies’ integration.

Mannvit will change its name to Cowi starting 1 January 2024.

The pair worked together on Reykjavík’s new bus rapid transit network.

“From our collaboration on various projects, we know that there is both a technical and cultural fit between our companies. But most importantly, we share the same ambition for a sustainable future,” said Mannvit chief executive Örn Guðmundsson.

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