An apparatus and method for producing substantially clear ice in a variety of desired shapes. The apparatus and method in the described embodiments generally provide for an insulated ice mold containing one or more mold cells, each mold cell with an open top, open bottom, and insulated side walls, that is suspended over a liquid water reservoir surrounded and contained in an insulated container. The top surface of the water residing in each mold cell is exposed to freezing air. The insulated walls forming the sides of one or more mold cells act to insure that each ice shape forms and grows from the top surface, down and towards the bottom of each mold cell. The liquid water reservoir, which contacts the bottom surface of the ice shape, remains in a liquid phase and serves as an impurity sink into which the impurities and gases contained in the freezing water are driven as ice forms downward in the mold cell. The liquid water reservoir acts to arrest ice growth below the bottom of the mold cell, while the water in the mold cells freezes into a solid above the ice-water interface.