Last checked at 14 Feb 2018 07:00
14 February 2018
Iofina plc
("Iofina", the "Group", or the "Company")
(LSE AIM: IOF)
Production commences at new IOsorb® Iodine Production Plant IO#7
Iofina, specialists in the exploration and production of iodine and halogen-based specialty chemical derivatives, is pleased to announce the completion of construction and commencement of production at its IO#7 IOsorb® plant.
The site has undergone hydrostatic testing and evaluations of its systems and is currently processing iodine rich brine water. IO#7 repurposed many materials from IO#3 and has been completed within the Company's expected timeframe and budget. Iofina expects that the production from IO#7 will favourably impact the Group's overall iodine production output as well as lowering overall production costs. Over the next few weeks the team will be lining out the parameters of operations at IO#7 to maximise iodine output.
A new image of IO#7 can be viewed on the Company's website www.iofina.com or by clicking the link below:
http://www.rns-pdf.londonstockexchange.com/rns/8061E_-2018-2-13.pdf
Commenting, President and CEO Dr. Tom Becker, stated: ''The start of production at IO#7 is a proud achievement for the Iofina team as it demonstrates the successful execution of our long term strategy - to increase iodine output whilst lowering production costs. Completing this project within time and budget further showcases the strength of the workforce at Iofina. Iodine prices continue to strengthen, and the Group is well placed to advance its position in the global iodine market. "
Enquiries:
Dr. Tom Becker, CEO & President
Iofina plc
Tel: +44 (0)20 3006 3135
Christopher Raggett/Giles Rolls/Emily Morris
finnCap Ltd
Tel: +44 (0)20 7220 0500
Media Contact:
Charles Goodwin/Harriet Jackson
Yellow Jersey
Tel: +44 (0)7544 275 882
About Iofina:
Iofina specialises in the exploration and production of iodine, halogen based specialty chemical derivatives and produced water. Iofina's business strategy is to identify, develop, build, own and operate iodine extraction plants currently focused in North America, based on Iofina's WET® IOsorb® technology. Iofina has production operations in the United States, specifically in Kentucky and Oklahoma. It is a vertically integrated company, covering the process from the production of iodine in the field, to the manufacture of the chemical end-products derived from iodine, supplying them to the consumer, and the recycling of iodine using iodinated side-streams from waste chemical processes. Iofina utilises its portfolio of patented and patent-pending technology, and proprietary methods and trademarks throughout all business lines.
www.iofina.com