Follow your favourite podcasts, listen offline and in the car with CarPlay and Android Auto, and always pick up where you left off. Free to try.
Iofina PLC (AIM:IOF, OTC:IOFNF) Dr Tom Becker spoke with Proactive's Stephen Gunnion about the company's record first-half performance, expansion of iodine production and plans to progress towards annual production of 2,000 metric tonnes.
Becker said Iofina produced 393 metric tonnes during the period, a 29% year-on-year increase, with IO#11 coming online in the second half of last year, meaning its full capacity contributed to this year's H1 output. Higher output, alongside improved plant economics, helped adjusted EBITDA more than double.
The company also cut production cost per kilo by 15%, which Becker attributed to a milder winter, increased plant uptime, additional brine water at one operation and tighter control of raw material purchasing costs.
On the next phase of expansion, Becker highlighted the importance of IO#12, which moves Iofina into the Permian Basin: "IO#12 is the first of those operations. It should be on here in the next couple of weeks." The plant is expected to produce between 170 and 200 metric tonnes after ramp-up, with Iofina eyeing further larger plants in the Permian Basin as it works towards its 2,000-tonne goal.
Iofina is also preparing to construct IO#13 and IO#14 simultaneously in Oklahoma, part of plans to build larger facilities more rapidly. Looking further ahead, Becker said the company intends to maintain a pipeline of additional plants while continuing to expand its customer base in the US and globally.
Visit Proactive’s YouTube channel for more interviews and company updates. Give the video a like, subscribe to the channel and enable notifications for future content.
