Business
IO#9 Iodine Plant Operating
IO#9 Iodine Plant Operating.
About this update from Iofina Plc
[{"type":"text","content":"\n\n\n14 June 2023\nIofina plc\n(\"Iofina\", the \"Group\", or the \"Company\")\n(AIM:IOF)\n \nIO#9 Iodine Plant Operating\n \nIofina 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. \nIO#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.\n\n \nCommenting, 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.\" \n \nEnquiries:\n \nDr. Tom Becker\nCEO & President\nIofina plc\nTel: +44 (0)20 3006 3135\n \nNomad & Broker:\nHenry Fitzgerald-O'Connor/Patrick Dolaghan/Andrew Potts\nCanaccord Genuity Limited\nTel: +44 (0)20 7523 8000\n \nFinancial Adviser:\nKingsley Wilson\nChrystal Capital Partners LLP\nTel: +44 (0)20 7850 4761\n \nMedia Contact:\nCharles Goodwin/Shivantha Thambirajah/Jazmine Clemens\nYellow Jersey PR Limited\nTel: +44 (0)7747 788 221/+44 (0)7983 521 488\nAbout Iofina:\nIofina 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.\n \nLEI: 213800QDMFYVRJYYTQ84\n \nISIN: GB00B2QL5C79\n \nIofina Resources\nIofina Resources develops, builds, owns, and operates iodine extraction plants using Iofina's WET® IOsorb® techn...