Iofina PLC (AIM:IOF, OTC:IOFNF) this week reported a strong start to 2026, with CEO Dr Tom Becker outlining a significant increase in production and an accelerating growth trajectory in an interview with Proactive.
The company recorded a 44% year-on-year rise in first-quarter iodine output, producing 179 metric tons compared with 124 metric tons in the same period last year. Becker attributed the improvement to added capacity, including the ramp-up of the IO11 plant, alongside operational efficiencies and supportive partner relationships.
Becker said the company had “continued to execute” its growth strategy, highlighting that improved winter conditions also contributed to stronger performance despite some downtime in January.
Looking ahead, Iofina is advancing a major expansion project in the Permian Basin, marking a strategic step beyond its existing Oklahoma operations.
Here, we take a look at what was said when Dr Becker joined the studio.
Proactive: Tom very good to speak with you. You've reported a 44% jump in first quarter production. You've also upgraded your full year guidance. What's actually driving that outperformance?
Dr Tom Becker: Stephen thanks a lot. Yeah Q1 2026 is off to a great start, and the amount of iodine that we produced in our overall performance reflects that. As you mentioned, a 44% increase—179 metric tons of iodine versus 124 last year. We've added capacity and continued executing our growth plans. We brought IO11 online in the second half of last year. We also have a strong operations team and committed partners helping maximise brine supply. Additionally, we had better winter conditions compared to last year.
Proactive: You describe this as a new phase of more rapid expansion. What does that pipeline look like beyond the Permian Basin plant?
Dr Tom Becker: We are constructing another plant, our fourth in four years, in a new core area in the Permian Basin. Our current eight plants are in Oklahoma. The new plant will process about 50,000 barrels of brine per day—double our existing capacity—and is expected to produce 170 to 220 metric tons annually. It should be operational later in Q3. Beyond that, we have a strong pipeline of opportunities with partners and expect continued accelerated growth.
Proactive: Spot price is holding above $70 a kilo. How much of that is structural demand growth?
Dr Tom Becker: The iodine market has been fairly balanced over the past three years. It’s around a 40,000 metric ton market, with healthcare applications like X-ray contrast media driving growth. Demand continues to rise, and while our expansion will contribute additional supply, it won’t meet all demand. We believe the market will remain stable in the near term, with prices typically in the mid-$70 range.
Proactive: Global supply chain disruption is hitting many industries. Why has Iofina been insulated?
Dr Tom Becker: We’ve seen no significant impact. We don’t source from or sell heavily into affected regions like the Middle East. Our sales are focused on the US, Asia, Europe, and South America, and our supply chains are diversified globally.
Proactive: Looks like a strong start to the year.
Dr Tom Becker: It is. We’re proud of our team and safety culture. We look forward to updating the market with our annual report soon.