IOSorb Patent Awarded
2 August 2013
Iofina plc
("Iofina" or the "Company")
(LSE AIM: IOF)
IOSorb Patent Awarded
Iofina, specialists in the exploration and production of iodine and iodine specialty chemical derivatives, is pleased to report that the Company has been awarded a US patent with regards to its IOsorb™ iodine extraction technology.
The new patent was awarded for Iofina's technology, already in use at IO#1 and IO#2, that provides removal of iodine from brine streams that contain hydrocarbon contaminates and are located at the injection site of the operator. These are key components of Iofina's technology as all the Company's sources of iodine are from hydrocarbon contaminated brine streams which are co-produced waste streams associated with shale oil and gas production based at the producer's injection site.
Conventional methods of extracting iodine are typically intolerant of high temperatures and rendered ineffective by hydrocarbon fouling. The conventional iodine extraction systems also are immobile and not modular or mobile like Iofina's WET® IOsorb™ units. This therefore makes conventional iodine extraction systems ill-suited for deployment which is also included in this patent. The issued patent was originally filed in the United States and has been also filed in Chile and Japan shortly thereafter.
Commenting, Chris Fay, Executive Chairman, said: "The IOsorb™ technology is the only technology known which is oil field proven for large scale commercial production of iodine. This patent is a key component in protecting Iofina's IOsorb™ technology utilised in the emerging shale boom in North America.
"We are delighted we have been issued the patent and will continue to finalise the Company's additional patents and trademarks relating to the Company's IOsorb™ technology to ensure a robust intellectual property (IP) portfolio for the Company."
For further information, please contact:
Dr. Chris Fay, Executive Chairman
Iofina plc
Tel: +44(0)20 3006 3135
www.iofina.com
Ben Colegrave/Chris Sim/James Rudd
Investec
Tel: +44(0)20 7597 5970
Media Contact:
Dominic Barretto
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
Latest directors dealings
- 51 minutes ago ASOS
- 1 hour ago MJ Gleeson
- 1 hour ago Rolls-Royce Holdings
- 1 hour ago Crest Nicholson Holdings
- 2 hours ago Naked Wines