Voyageur Pharmaceuticals Achieves 99.8% Purity in Iodine Extraction, Prepares for Field Pilot

Voyageur Pharmaceuticals Ltd. (TSX.V: VM) (OTC Pink: VYYRF) has announced a significant milestone in the development of its proprietary Mueller iodine extraction process, achieving 99.8% purity and over 90% recovery in laboratory tests using real oilfield brine. This advancement is a critical step in the company's strategy to establish a domestic iodine supply for the North American radiology contrast media market, while providing oil and gas producers with a new avenue to generate value from produced brine.

The Mueller process is designed to recover high-purity iodine from iodine-rich oilfield brine, addressing a largely untapped resource. Billions of barrels of produced water are handled and disposed of annually at significant cost, yet only a small fraction of the iodine they contain is ever recovered. Voyageur aims to be the first to commercialize this process, potentially transforming waste into a valuable resource. The company has established a laboratory and fabrication site in Houston, Texas, where the process has been validated under controlled conditions, generating clean brine suitable for disposal or reinjection, consistent with zero-liquid-discharge objectives.

Key achievements include continuous operation using real oilfield brine feed, the construction of a mobile field-capable pilot unit sized to 80,000 liters per day, and the validation of key process parameters supporting scale-up. Additionally, a preliminary design basis for a 200 metric ton per year plant has been completed, along with techno-economic and environmental validation indicating a low-cost OPEX and favorable environmental profile. The pilot unit is scheduled to commence field testing in the coming weeks, with operations planned for September 2026.

Field testing will provide operating data under real-world conditions, supporting the design of modular, relocatable production units. Voyageur's modular concept allows 200 tonne/yr field units to be deployed at multiple saltwater disposal sites, where iodine concentrate can be produced and transported to a central hub for final polishing, prilling, and packaging. This approach is intended to optimize logistics and reduce capital costs, making the process economically viable at various scales.

Brent Willis, President and CEO of Voyageur, emphasized the importance of this technical validation: “Achieving 99.8% purity and greater than 90% recovery in laboratory testing using real oilfield brine provides meaningful technical validation as we prepare for field pilot operations. This work supports our broader strategy of building a secure, vertically integrated supply chain for radiology drugs.” The company plans to develop iodine production capacity of up to 1,000 tonnes per year to support its future contrast pharmaceutical production requirements.

Voyageur's vertically integrated strategy aims to improve supply-chain security, reduce reliance on imported raw materials, and lower operating costs for medical imaging contrast agents. The Mueller process is a key component, as iodine is a critical raw material in iodinated contrast media. By developing this process alongside its Frances Creek barium project and planned manufacturing capabilities, Voyageur is positioning itself across key parts of the medical imaging contrast media value chain.

Engineering and project planning are progressing to support continued development from laboratory validation to field demonstration and commercial-scale design. Subsequent phases will advance through front-end loading stages, including concept and basic design, to define a practical demonstration-scale configuration. This work is intended to improve engineering definition, refine cost estimates, and support future commercial deployment planning.

For oil and gas operators and produced water midstream companies, this development offers a new revenue stream from a waste product. As Voyageur moves forward with field testing, the industry will be watching to see if this technology can deliver on its promise of economically profitable iodine extraction, potentially reshaping the North American iodine market and reducing dependence on imports.