Norway's Aker Carbon Capture has joined forces with Carbfix and Elkem Iceland in the groundbreaking work of reducing CO2 emissions of Elkem Iceland's ferrosilicon plant through carbon capture and mineral storage in basalt structures. The three companies have signed a Memorandum of Understanding that builds on a Letter of Intent between Elkem Iceland and Carbfix from earlier this year. Aker Carbon Capture is an industry leader in carbon capture and has delivered a separate feasibility study for the establishment of carbon capture at Elkem's Norwegian smelters to support the company's long-term goal of achieving carbon-neutral metal production.

In 2020, Elkem was rated "Gold" on sustainability by EcoVadis and "A" on climate by CDP. The core product at Elkem Iceland is ferrosilicon, which is one of the elementary raw materials for the steel industry. FeSi is either used for refining of steel or as an ingredient to reach predetermined qualities.

Elkem Iceland is the second largest ferrosilicon plant in the world, with an annual capacity of 120.000 tonnes.