On the mossy, volcanic tundra of Iceland’s Reykjanes peninsula, Orf Genetics’ glass and metal greenhouse stands out like a sore thumb.

Inside, tens of thousands of barley plants will be carefully tended for 90 days before being sent down the road to the sparsely populated country’s capital Reykjavik for processing.

The fodder crop was a staple in the Icelandic diet centuries ago and has made a comeback in trendy restaurants in recent years, but these plants aren’t for eating.

They have been genetically modified to contain growth factors, a type of protein whose uses vary from skincare products to sweeteners and stem cell research.

Orf isn’t typical of companies in a country whose economy is built on fishing, aluminium smelting and more recently tourism. But it is exactly the type of enterprise Iceland’s government is keen to encourage as it looks to make better use of its traditional industries and national resources to find more sustainable avenues of growth 10 years on from its crippling financial crisis.