IO#9 Update

Iofina PLC

30 November 2023

 

30 November 2023

Iofina plc

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

(AIM:IOF)

IO#9 Update

Plant Operating at Expected Rate 

Iofina plc, specialists in the exploration and production of iodine and manufacturers of specialty chemical products, is pleased to provide an update on its IOsorb® iodine plant, IO#9, in Western Oklahoma.

As previously reported, the ramp-up phase of IO#9, since it was switched on in June 2023, took longer than anticipated.  Recently our partner completed upgrades to its water gathering system, which has improved the flow of brine water to the plant. Since the completion of this work, the Company has been able to steadily increase crystalline iodine production with the higher water flow and can confirm that the plant is now operating within the expected range of output. The Company expects second-half production at the bottom, or very marginally below the bottom end of the forecast range of 325-350 MT from its six iodine plants.

President and CEO, Dr. Tom Becker, stated: "Whilst IO#9's ramp-up took longer than expected, we are now back on track with the plant producing crystalline iodine at the rate expected. Looking ahead, we feel there is an opportunity with our partner to potentially increase flow even further than the current production rate. In the meantime, IO#10 planning is advancing well and the Company continues to make progress with negotiations relating to our pipeline of further new plants."

This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018.

Enquiries:

Dr. Tom Becker

CEO & President

Iofina plc

Tel: [phone]

Nomad & Broker:

Henry Fitzgerald-O'Connor/Harry Rees

Canaccord Genuity Limited

Tel: [phone]

Media Contact:

Charles Goodwin/Shivantha Thambirajah/Soraya Jackson

Yellow Jersey PR Limited

Tel: [phone]

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

 

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