greenhouse, home to the EGF plants, I notice that the
name before mine is David Miliband – a British MP, who
was visiting during a tour of Iceland’s best businesses.
These tours give outsiders a glimpse into an economy
that’s having an enviable moment. In the aftermath of
the economic crash, the nation’s GDP plummeted for
two and a half years, but since then, it has been growing
at some 2.5% per annum – a figure few countries in
Europe can match. Tourism has played a part, but just as
important is the fact that the country’s most promising
graduates – who would have gone to work for the banks
in the past – now look to engineering, IT and other local
industries. The government, too, has taken active steps,
offering financial incentives to new businesses and
subsidised office space in so-called ‘incubator centres’.
Sagamedica, a pharmaceuticals manufacturer that
produces herbal remedies, is based in such a centre. But
while its methods are decidedly 21st century, its main
ingredient – angelica – is anything but. This ancient
Viking herb has been used as a remedy for aches and
pains in Iceland for more than a millennium.
It’s farmed on the magical Hrísey Island, where there
are only 180 residents and one tractor for transport. In
summer, the small farm, which is surrounded by high
mountains, an active volcano and a glittering glacier,
gets 24 hours of daylight, making it a prime breeding
ground. “Angelica is found elsewhere in the world,”
explains company spokesperson Perla Egilsdóttir, “but
it’s the short, intense summers and midnight sun that
make it so potent and viable for medicinal use.”
The so-called angel’s herb isn’t just for healing; it can
also be found on your plate, especially at chef Gunnar
MINERAL WEALTH
07
The award-
winning purity of
Reyka vodka reflects
that of the water
08
Beautiful Hrísey
Island where the
angelica herb grows
09
Gunnar Gislason’s
restaurant Dill serves
foraged ingredients
10
Winter-dried wolffish,
cream of burned
butter, and sweat and
sour dill oil
11
Known as the angel’s
herb, angelica has
healing properties
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B U S I N E S S
I C E L A N D
