According to Sif, nothing else is quite as effective
in reducing wrinkles. It claims that its main product, the
night-time serum, can reduce furrows by 30% in 30 days.
Dr Björn Örvar, the brains behind the research, explains
that he heads up the only cosmetics company in the
world that has been able to grow EGF in plants: other
companies recreate EGF in bacterial or fungal cells.
Bioeffect is a green product in more ways than one:
the plants are nurtured in a greenhouse powered by
geothermal currents – 80% of energy on the island
comes this way – and are watered with fresh spring
water, which also finds its way into the end product. “By
the time the water’s drained through the pumice, it’s
cleaner than controlled EU drinking water,” says Dr
Örvar, as he bends down and takes a drink.
Sif has a novel product, and its profits speak for
themselves. Despite little in the way of global
advertising, word of mouth saw turnover increase by
270%
between 2010 and 2011, and another 50% last year.
And it’s attracting interest from around the world. When
I sign the guest book at the high-tech, glowing
But Bioeffect has more claim thanmost to this accolade.
Its key ingredient is a protein called EGF (epidermal
growth factor), which occurs naturally in human skin
and is known to stimulate cell growth. Sif’s coup is that it
is has developed a process to cultivate this substance in
genetically altered barley – which it grows in its
greenhouse using soil made from the island’s volcanic
ash. As marketing manager Eirikur Sigurdsson explains:
“
There’s nowhere else in the world where we could make
this product – it has to be here. It’s thanks to our beautiful
country that we’ve managed to develop this science.”
»
04
05
06
GROWTH POTENTIAL
01
Bergthora
Gudnadottir and her
husband Joel
02
Iceland’s unique
sheep breeds have
lightweight,
waterproof coats
03
Woollen clothing from
Farmers Market had a
boom in the recession
04
Greenhouses shine
out in the bleakness
05
Sif’s Bioeffect cream
flies off the shelves
06
Barley grown in
volcanic lava rocks
is used to make the
serums
0 9 3
B U S I N E S S
I C E L A N D
