Business Update
Summary by AI BETAClose X
4 September 2025
Iofina plc
("Iofina", the "Company" or the "Group")
(AIM: IOF)
Record Monthly Iodine Production
Cash Reserve Increase of $1.8 million
Iofina plc, specialists in the exploration and production of iodine and manufacturers of specialty chemical products, is pleased to report that the 74.3MT of crystalline iodine produced at the Company's IOsorb® plants in August 2025 was the highest single month of iodine production. The Company's plants are currently operating efficiently and have not experienced extreme weather conditions. This, combined with the recent addition of IO#11 to the Iofina Resources portfolio, which has operated as expected, has contributed to the record production. Iofina owns and operates eight IOsorb® plants in two core areas, with five plants in NW Oklahoma and three plants in Central Oklahoma.
Additionally, the Company is pleased to announce that its cash reserve has increased by $1.8 million. Iofina Resources and Iofina Chemical have recently received Employee Retention Tax Credit ('ERTC') refunds of current net funds and interest received that total over $1.8m. The ERTC is a refundable tax credit for eligible businesses that retained employees and were affected during the COVID-19 pandemic. The Company retained a certified public accounting firm that specialised in tax audit to retain these credits. The Company is pleased to have received these credits for the difficult COVID-19 pandemic period, which included the shutdown or reduction of certain processes due to negative pricing and moratoriums. Further details will be provided in the Group's interim report later this month.
Commenting, President and CEO, Dr. Tom Becker, stated:
"The Group's recent record production levels are a statement of the hard work by all our dedicated employees. Our commitment to keeping our employees in work during the COVID-19 pandemic has been recognised with tax credits of over $1.8m.
"We continue to execute our growth strategy, recently adding IO#11 to our portfolio, and it is performing as expected. Moving ahead, the Company is focused on maximising production in our core areas and is looking to expand into new areas in the future as site contracts are being concluded, along with the completion of plant designs and enhancements for future iodine production."
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
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 eight 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.
Follow Iofina's latest developments via its LinkedIn and X accounts.
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