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.
Copyright 2024 Alliance News Ltd. All Rights Reserved.
