Business Update
Record monthly iodine production of 74.3MT in August 2025, cash reserves increased by $1.8m from ERTC tax credits.
- Monthly iodine production 74.3MT
- Cash reserve increase $1.8m
Select text to share a quote on X · sign in to keep highlights & notes in your IOF notes
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."
Iofina Resources
Iofina Chemical
Follow Iofina's latest developments via its LinkedIn and X accounts.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.