Iofina CEO Tom Becker on strong Q3 and expansion plans into 2025 [Video]

Iofina PLC (AIM:IOF, OTC:IOFNF) CEO Dr Tom Becker discusses the company’s strong third-quarter performance and its expansion plans with Proactive’s Stephen Gunnion.

Becker highlighted that iodine production increased year-over-year, producing just under 164 metric tons across six plants, with a seventh plant, IO#10, coming online in September. He also discussed IO#11, a new plant set to start construction by the end of the year, which is part of Iofina’s aggressive growth strategy.

Becker also commented on the iodine market, stating, “Demand for iodine and iodine derivatives is estimated to be up 7% on the year.” He anticipates average selling prices of iodine will rise in the second half of 2024 compared to the first half, driven by strong market demand and supply constraints. Plans for further expansion beyond IO#11 are already in development, with Iofina making strides towards a significant increase in iodine production in the coming years.