Commissioning of IO#3 iodine extraction plant
31 October 2013
Iofina plc
("Iofina" or the "Group")
(LSE AIM: IOF)
Commissioning of IO#3 iodine extraction plant
Iofina, specialists in the exploration and production of iodine and iodine specialty chemical derivatives, is pleased to announce that following completion of construction, the Group's IO#3 iodine extraction plant based on Iofina's WET® IOsorb™ technology, has now been fully commissioned and is ready to accept brinewater upon final approval from the well operator. Pictures of the plant can be viewed at www.iofina.com.
Production staff have taken charge of the facility from the Group's construction and fabrication crews at IO#3, which is located in Oklahoma approximately 15 kilometers from the IO#2 plant.
Iofina's construction team is continuing work on the rollout of the IO#4, IO#5 and IO#6 iodine extraction plants. Large, productive brine flows which exceed current IO#2 capacity may warrant diversion of the equipment staged for the IO#6 plant to a location adjacent to IO#2 which the Board believe may have both short and long term financial benefits. Iofina engineers are currently studying the merits and implications of such a change. The Group's construction and fabrication teams continue work on IO#4 and IO#5 as planned.
Iofina's business strategy is to identify, develop, build, own and operate iodine extraction plants currently focused in North America based on Iofina's WET® and IOsorb™ technology. Today's news follows on from the successful commissioning of the Group's IO#1 and IO#2 iodine extraction plants, which were reported to the market in August 2012 and January 2013, respectively.
Commenting on today's news, newly appointed CEO George Lantz, said: "We are very pleased to have IO#3 on line. Our construction and fabrication teams have built a state of the art facility which enables optimized production of iodine and a low number of staff to operate the facility. We are looking forward to steadily increasing production as additional plants come on line."
For further information, please contact:
George Lantz, CEO
Iofina plc
Tel: +44 (0) 20 3006 3135
Ben Colegrave/Chris Sim/ James Rudd
Investec
Tel: +44(0)20 7597 5970
Media Contact:
Dominic Barretto/Anna Legge
Yellow Jersey PR Limited
Tel: +44(0) 7768 537 739
About Iofina
Iofina specializes in the exploration and production of iodine, iodine specialty chemical derivatives, produced water and natural gas. Iofina's business strategy is to identify, develop, build, own and operate iodine extraction plants currently focused in North America based on Iofina's WET® IOsorb™ technology. Iofina has iodine production operations in the United States, specifically in Texas, California, Montana, Oklahoma and Wyoming. The Group has complete vertical integration from the production of iodine in the field to the manufacture of the chemical end products derived from iodine to the consumer and the recycling of iodine using iodinated side-streams from waste chemical processes in Europe, North America and Asia. The Group utilizes its portfolio of patented and patent pending technology, proprietary methods and trademarks throughout all business lines.
This information is provided by RNS
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