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Iofina brings production up to speed at IO#9 and looks to the future

–News Direct–

Iofina PLC (AIM:IOF, OTC:IOFNF) CEO Dr Tom Becker speaks to Thomas Warner from Proactive after the iodine producer confirmed that IO#9, launched in June 2023, is now successfully producing 100-150 metric tonnes annually after a period of running below capacity.

Becker goes on to reveals plans for a tenth plant, leveraging lessons from IO9's slow start. This new plant, situated near IO#9 in western Oklahoma, is part of Iofina's ongoing expansion, with a potential launch in mid-to-late next year.

The company aims to streamline processes and has made additional hires to facilitate this growth. He also addresses efforts to bolster sales and marketing efforts, which include hiring a senior sales and market manager. This role will enhance customer relationships and explore new specialty chemical products.

Additionally, Iofina is conducting R&D and scaling up new product lines, with upcoming website enhancements to support marketing and communication. Regarding iodine prices, a crucial aspect for Iofina, Becker noted a slight decline from previous highs but expects stable prices around $65-$70 per kilo. The demand for iodine, particularly in injectable contrast agents, remains strong, suggesting continued high market prices, barring any major disruptions.

Contact Details

Proactive UK Ltd

+44 20 7989 0813

uk@proactiveinvestors.com

View source version on newsdirect.com: https://newsdirect.com/news/iofina-brings-production-up-to-speed-at-io-9-and-looks-to-the-future-970939994

Iofina PLC

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COMTEX_444494542/2655/2023-12-05T12:01:28