Greenland Water Bank: A New Dawn for Uunartuarsuk Water Project
For years, the road to commercializing water from Uunartuarsuk, also known as Lyngmarkskilden, has been fraught with challenges. Jørgen Wæver Johansen, the director leading this initiative since 2016, candidly acknowledges the difficulty of securing the right partners for the venture. “It’s no secret that we’ve struggled,” he says, reflecting on the long journey shared with Svend Hardenberg.
The financial records of Greenland Water Bank speak volumes about the struggles faced. The company has reported losses in nearly every year since its inception. Yet, a glimmer of hope has emerged on the horizon. With the introduction of Greenland Development Partners, and the appointment of Josette Sheeran as the new chair of the board and minority investor, doors may be opening for this underdog in the water industry.
The Imivik Brand Takes Shape
Water sourced from Uunartuarsuk has been sold locally under the brand name Imivik for several years, primarily in stores like Brugseni, Pilersuisoq, and Pisiffik, as well as in restaurants. Initially marketed in half-liter plastic bottles, Greenland Water Bank recently pivoted to canning their product following the closure of Nuuk Imeq and adjustments to the deposit system set for 2024. This adaptive strategy is emblematic of the company’s resilience.
Despite facing significant hurdles, Greenland Water Bank has managed to carve a niche for itself where many others have faltered. While many attempts to commercialize Greenlandic water have stalled before reaching production, Imivik stands as a testament to perseverance.
Over the years, the company has also experimented with expansion, launching initiatives like Kondivik, Kuulavik, and a sparkling variant of Imivik. However, these efforts had varying degrees of success.
Johansen reflects on a particularly challenging moment when the closure of Nuuk Imeq jeopardized their established production framework. “It prompted us to seek not just production stability but also exclusivity on the water sourced from Uunartuarsuk,” he shares. “Finding the right partner was crucial for us to elevate our product in a competitive market.”
A New Partnership with Global Reach
Through networking in Washington, Greenland Water Bank connected with Josette Sheeran, a formidable figure who previously led the UN World Food Program. Her impressive credentials include a board position at Vestergaard International, a company renowned for creating life-saving water filtration technology.
Sheeran was intrigued by the prospect of engaging with a viable water project in Greenland, where Greenland Water Bank was uniquely positioned as the only company with actual production capabilities. “In 2023, we initiated conversations, and her extensive network has the potential to open new markets for us,” Johansen explains. The goal now is to establish local bottling in Qeqertarsuaq and craft a premium product aimed at international consumers.
Navigating Criticism and Public Perception
The emergence of an American investor has stirred attention and speculation in Denmark, particularly surrounding Sheeran’s connections and the controversial history of U.S. interest in Greenland. Johansen dismisses the distraction: “I believe some are attempting to fabricate a narrative from thin air. We are simply a small water company making strides with effective partners.”
He draws parallels to larger Danish companies with American ownership, noting, “This is not an isolated case; it’s a broader trend within commerce.” Recent high-profile transactions, such as the sale of Copenhagen’s Royal Arena to Live Nation, highlight that foreign investment is commonplace and often uncontroversial.
A Personal Touch in Business
When discussing his dual role as both a businessman and the husband of Vivian Motzfeldt, Greenland’s Minister of Foreign Affairs, Johansen is forthright. “My wife operates within the same guidelines as her peers and has always declared any potential conflicts,” he says. “Her role doesn’t preclude me from my business endeavors.”
As their collaboration with Josette Sheeran unfolds, Johansen remains focused on a singular goal: fostering economic growth in Qeqertarsuaq. “We’ve seen her visit the community multiple times this year, and the warm reception speaks volumes about the shared enthusiasm for this project,” he concludes.
In a landscape where many have faltered, Greenland Water Bank stands poised at the brink of transformation, ready to push forward with renewed vigor and optimism.