Select Water Solutions Partners with ISE Chemicals for Commercial Iodine Production from Produced Water
WTTR has more than doubled off its 52-week low of $7.86.
Summary
Select Water Solutions has signed a definitive agreement with ISE Chemicals to develop commercial iodine production facilities. This partnership will leverage Select's existing water infrastructure across Texas, New Mexico, and Oklahoma to extract iodine from produced water, with Select receiving royalty payments. The first facility is slated for 2027, aiming for ~3,000 tonnes per year of iodine production by 2030. This strategic move creates a new revenue stream, further monetizing Select's extensive water infrastructure and diversifying its business, following strong Q1 earnings reported in May. Investors will watch for updates on the 2027 facility commissioning and progress towards the 2030 production targets.
At the time of this announcement, WTTR was trading at $19.18 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $2.7B. The 52-week trading range was $7.86 to $20.48. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: PR Newswire.