REG - Iofina PLC - IO#9 Iodine Plant Operating

IofinaAnnouncement

14/06/2023 07:00

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RNS Number : 6138C  Iofina PLC  14 June 2023

14 June 2023

Iofina plc

("Iofina", the "Group", or the "Company")

(AIM:IOF)

 

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."

 

Enquiries:

 

Dr. Tom Becker

CEO & President

Iofina plc

Tel: +44 (0)20 3006 3135

 

Nomad & Broker:

Henry Fitzgerald-O'Connor/Patrick Dolaghan/Andrew Potts

Canaccord Genuity Limited

Tel: +44 (0)20 7523 8000

 

Financial Adviser:

Kingsley Wilson

Chrystal Capital Partners LLP

Tel: +44 (0)20 7850 4761

 

Media Contact:

Charles Goodwin/Shivantha Thambirajah/Jazmine Clemens

Yellow Jersey PR Limited

Tel: +44 (0)7747 788 221/+44 (0)7983 521 488

About Iofina:

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.

 

LEI: 213800QDMFYVRJYYTQ84

 

ISIN: GB00B2QL5C79

 

Iofina Resources

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

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 40(th) anniversary in 2023 as a preeminent
halogen-based specialty chemicals company.

 

www.iofina.com (http://www.iofina.com/)

 

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