Iofina announces commission of new IO#10 plant in Oklahoma

(Alliance News) - Iofina PLC on Friday announced that its IO#10 IOsorb plant in Oklahoma has now been commissioned.

The Colorado, US-based iodine producer said the new plant is undergoing hydro-testing and brine water is flowing through its system. In the next few days, IO#10 will begin concentrating and isolating iodine, with production due to ramp up over the next few weeks.

IO#10 is Iofina's seventh plant operating in Oklahoma, constructed with a new partner in a new core area where oil and gas drilling activity is high.

Iofina expects the new plant to make a material contribution of crystalline iodine production through the end of the year, with the capacity to produce 100-150 metric tonnes per annum.

Chief Executive Officer & President Tom Becker said: "IO#10 is another major milestone in our growth plans. The new plant is set to make a material contribution to Iofina's total crystalline iodine production through the remainder of the year. We continue to advance discussions with our chosen brine water partner for our next plant, IO#11, and will make a further update on this soon."

Shares in Iofina were up 5.1% at 22.34 pence each in London on Friday morning.

By Emily Parsons, Alliance News reporter

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