14 June 2023
(“Iofina”, the “Group”, or the “Company”)
IO#9 Iodine Plant Operating
Iofina plc (AIM:IOF), specialists in the exploration and production of iodine and manufacturers of specialty chemical products, is pleased to announce that the Company’s IO#9 IOsorb® plant is operational. IO#9 has undergone hydrotesting and has begun flowing brine water through the plant.
IO#9 is the Company’s sixth plant now operating in Oklahoma, constructed with a new partner and in a new core area with high oil and gas drilling activity. Iofina expects a rapid payback on the investment in the plant as production from IO#9 will favourably impact the Group’s overall production output, with the rates expected to increase by 100MT-150MT of crystalline iodine per year. IO#9 is currently flowing brine water through our system and will shortly concentrate and isolate iodine, as the plant is set to ramp up its production over the coming weeks.
Commenting, President and CEO Dr. Tom Becker, stated: We are delighted to have IO#9 flowing brine water through our system, and meeting our end of Q2 target for the start of production. The new plant is on track to make a significant contribution to our total crystalline Iodine production through the second half of the year.”
Dr. Tom Becker
CEO & President
Tel: +44 (0)20 3006 3135
Nomad & Broker:
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Canaccord Genuity Limited
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Charles Goodwin/Shivantha Thambirajah/Jazmine Clemens
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Iofina plc (AIM:IOF) is a vertically integrated company that specialises in the production of Iodine and the manufacturing of specialty chemical products. Iofina is the second largest producer of iodine in North America and operates the manufacturing entities Iofina Resources and Iofina Chemical.
Iofina Resources develops, builds, owns, and operates iodine extraction plants using Iofina’s WET® IOsorb® technology. Iofina currently operates five producing IOsorb® plants in Oklahoma and is consistently using technology and innovation to improve and expand its operations.
Iofina Chemical has manufactured high quality halogen speciality chemicals derived from raw iodine, as well as non-iodine-based products. Iofina Chemical will be celebrating its 40th anniversary in 2023 as a preeminent halogen-based specialty chemicals company.