The VarmaMAX team — from Snjallræði to leading geothermal research

"You literally breathe in geothermal energy in Iceland. It's woven into the fabric of society." That's how Agata Rostran Largaespada, co-founder of VarmaMAX and former Snjallræði participant, describes why Iceland is a unique setting for geothermal researchers. It's not without reason that the country has been compared to Disneyland for this group of scientists in a recent feature by Reykjavík University.

VarmaMAX, which took part in Snjallræði in 2025 under the name GeoMerge, develops engineering solutions to maximize the utilization and lifespan of geothermal resources. Their goal is to increase energy production sustainably without drilling new wells. The project directly supports the transition from fossil fuels to renewable energy sources and helps reduce greenhouse gas emissions.

Behind VarmaMAX are Agata Rostran Largaespada from Nicaragua and Ximena Guardia Muguruza from Peru. They met in 2021 while working together on a research team and share a background in a master's degree in Sustainable Energy Engineering from the Iceland School of Energy (ISE) at Reykjavík University, as well as studies at the GRÓ Geothermal Training Programme. Both currently work in research at Reykjavík University under the supervision of María Sigríður Guðjónsdóttir.

Most recently, VarmaMAX received a grant of 20 million ISK from the Icelandic Technology Development Fund's Startup Programme (Sprotaáætlun) to strengthen their operations and continue their collaboration with Landsvirkjun and Reykjavík University. Among their goals is to share knowledge and technology with geothermally rich regions such as Peru, where infrastructure and technology are still lacking despite significant energy resources.

VarmaMAX's story is a clear example of how ideas given room to grow in Snjallræði can develop into real, international impact — and how a combination of research, entrepreneurship, and international collaboration can deliver sustainable solutions on a global scale.

The application deadline for the Snjallræði university accelerator is August 27th at 23:59.

Do you have an idea that could become the next VarmaMAX? Apply here.