17 July 2025
Iofina plc
("Iofina", the "Company" or the "Group")
(AIM: IOF)
H1 2025 Corporate Update
Another Record H1 Production
IO#11 Commissioned
Iofina plc, specialists in the exploration and production of iodine and manufacturers of specialty chemical products, today provides an update to the market regarding its activities during H1 2025 (the "Period") and the commissioning of IO#11.
The Company is pleased to report that following a strong second quarter, Iofina Resources produced 305.5 metric tonnes ("MT") of crystalline iodine in the Period, an increase of 10.6% (H1 2024: 276.1 MT). This figure was both a record H1 production total and slightly higher than the Company's revised production guidance for the Period of c.300 MT, as stated in the Q1 2025 update.
Iofina's Resources' newest commissioned plant, IO#11, is in the final stages of hydro-testing, with brine water flowing through the system. Iofina expects the new plant to be producing crystalline iodine this month. IO#11 will be the third plant in operation in the central Oklahoma core area since June 2023, with the Group having eight IOsorb® plants in total. IO#11 is expected to make a material contribution to total crystalline iodine production in the second half of the year, with an estimated annual output from this plant of approximately 100 MT.
The Company is finalising the specific location and timeline with its preferred partner for IO#12, with the intention of commencing foundation work on the new plant before the end of 2025.
With the Company's plants operating at a more optimal flow rate compared to the start of the year and the addition and ramp-up of IO#11 in Q3 2025, the Company anticipates production in the second half of 2025 to be in the range of 400-440 MT from our eight operating plants in Oklahoma. As IO#11 production normalises, this total H2 2025 production range will become clearer over the coming months, and we will update the market at that point.
Iofina continues to see strong demand for its products, with sales tracking in line with the Board's expectations and reflecting the favourable trends across the iodine market. The price of spot iodine (100% basis) is firmly above $70/kg and is expected to stay at these levels for the foreseeable future.
Finally, the Company continues to preserve its safety record, with no lost time accidents for over four years. The Group continually seeks to implement the latest policies, with safety being the paramount factor.
Commenting, President and CEO, Dr. Tom Becker, stated:
"After experiencing some initial production challenges in the first quarter of the year, our team has successfully worked with our brine supply partners to improve water flows to the plants, culminating in a record H1 production of 305.5MT. We are also pleased to have completed IO#11 on time and on budget, and with production at the new plant expected to ramp up during Q3 2025, we now anticipate producing 400-440 MT of crystalline iodine during the second half of 2025. The execution of our growth strategy, combined with a healthy iodine market, will result in 2025 seeing further records for the Group."
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:
Iofina plc
Dr. Tom Becker
CEO & President
Tel: +44 (0)20 3006 3135
Nomad & Broker:
Canaccord Genuity Limited
Henry Fitzgerald-O'Connor/Harry Rees
Tel: +44 (0)20 7523 8000
Media Contact:
Yellow Jersey PR Limited
Charles Goodwin/Shivantha Thambirajah/Zara McKinlay
Tel: +44 (0)7747 788 221/+44 (0)7983 521 488
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 celebrated its 40th anniversary in 2023 as a preeminent halogen-based specialty chemicals company.
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