As many of you may remember Best Cloud Server reported about the Volcano in Iceland and how this would affect data centers in the surrounding areas.  Greenqloud, which is one of the startups that will present at the cloud computing event Structure on June 23 and 24 in San Francisco, was created by Internet innovator Eirikur Hrafnsson.  The concept that Eirikur told us about is to rent space in data centers based in Iceland and sell cloud computing services to web companies and individuals all over the world that want to manage their carbon footprint cloud hosting and embrace clean power cloud hosting. The cloud computing services include virtual server hosting, data storage, scientific data processing and software as a service infrastructure.

Hrafnsson told Earth2Tech during an interview on Thursday that Greenqloud plans to launch its beta service by the fourth quarter of this year on a small scale. After that, Greenqloud wants to launch on a much larger, public scale in 2011. The company plans to hit break-even by year two of operation and become profitable by year three. It’s raised about a half a million dollars from angel investors in Iceland and is looking to raise another round of funding to launch its service on a wider scale.

They later reported that “A large data center operator in Iceland like Verne Global (which Greenqloud is in discussions with) is able to offer a competitive 20-year fixed electricity rate, which protects the customer from volatile energy prices, and that is 100 percent clean power. Greenqloud plans to work with several data center operators, and Hrafnsson says there has been a recent “gold rush” in data center construction in Iceland — a combination of the devalued Kronor, the IT history of the country, and the emission-free power grid.”