Baseload Capital welcomes Kristín Vala Matthíasdóttir as new CTO

Swedish geothermal investor and developer Baseload Capital has announced the appointment of Kristín Vala Matthíasdóttir as chief technology officer (CTO), effective August 2024.

Matthíasdóttir, with more than 15 years of experience in the geothermal industry, will spearhead efforts to support local developers across the globe with project development, operation and maintenance information.

Matthíasdóttir commented in a statement: “I am excited to join the ambitious team at Baseload Capital and work towards changing the energy mix worldwide.

“By fostering partnerships and challenging traditions, we will scale up the entire industry. Geothermal energy is my passion, and I am thrilled to reconnect with my inner scientist in a sector where my heart truly belongs. The Earth has power – let’s switch it on!”

Matthíasdóttir holds a Master of Science degree in Chemical Engineering from the University of Lund, Sweden. She brings a wealth of knowledge from her background in the Icelandic geothermal industry, where she focused on geoscience, reservoir management and power plant operations.

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Throughout her career, Matthíasdóttir has held various executive positions, overseeing the production, operation and maintenance of geothermal power plants, and was actively involved in monitoring and controlling geothermal reservoirs operated by HS Orka.

“We are thrilled to welcome Kristín Vala to the Baseload Capital team,” added Alexander Helling, CEO of Baseload Capital. “Her diverse expertise in the renewable energy and international business sectors and deep understanding of relevant technologies will be invaluable as we continue to develop innovative solutions for a sustainable future.”

Baseload Power recently announced the closing of its €53 million ($58 million) Series B round of financing, which was led by investment from infrastructure fund ENGF.

The main investor behind ENGF is Ingka Investments – the investment arm of Ingka Group, the largest IKEA retailer. Other shareholders participating in this round include energy technology company Baker Hughes – whose investment was announced in 2023 – Nefco, Breakthrough Energy Ventures, and Gullspång Invest.

Baseload Power will be attending Enlit Europe in Milan. Join Marta Rós Karlsdóttir, Managing Director, Baseload Power Iceland, in her hub session entitled: The Earth's hidden power. Geothermal heat and Iceland's recipe for success, taking place 23 Oct 2024 at 14:45.