Voyageur Pharmaceuticals Achieves 99.8% Iodine Purity, Advances Mueller Process Toward Field Pilot in Texas

Voyageur Pharmaceuticals Ltd. (TSX.V: VM) (OTC Pink: VYYRF) has announced a major milestone in its proprietary Mueller iodine extraction process, reporting successful production of iodine at 99.8% purity with overall process recovery exceeding 90%. The company, which develops pharmaceutical-grade barium and iodine contrast media for medical imaging, is advancing its strategy to establish a domestic iodine supply for the North American radiology contrast media market while offering oil and gas producers a new revenue stream from produced brine.

The Mueller process is designed to recover high-purity iodine from iodine-rich oilfield brine. Recent laboratory work in Houston, Texas, using Anadarko and Permian Basin produced water, has validated the process under controlled conditions. Key achievements include continuous operation using real oilfield brine feed, generation of clean brine suitable for disposal or reinjection, and validation of process parameters supporting scale-up. The company has also completed a preliminary design basis for a 200 metric ton per year plant and conducted techno-economic and environmental assessments.

Voyageur has constructed a mobile, field-capable pilot unit sized to treat approximately 80,000 liters per day. Field testing is set to begin in the coming weeks, with operations planned for September 2026. This transition from bench-scale to real-world field operation using unaltered oilfield brine is critical for commercial deployment. The pilot unit will provide operating data under real-world conditions and support the design of modular, relocatable production units.

The modular production concept allows for 200 tonne/yr field units to be deployed at multiple saltwater disposal sites. Iodine concentrate would be transported to a central hub for final polishing, prilling, and packaging. Engineering and project planning are progressing, focusing on process systems for iodine polishing, prilling, and packaging, and refining cost estimates for future commercial deployment.

“The continued advancement of the Mueller process is an important step in Voyageur’s plan to develop a reliable North American source of high-purity iodine,” said Brent Willis, President and CEO. “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.”

For oil and gas operators, produced water midstream companies, and investors, produced brine represents a largely untapped resource. Billions of barrels are handled and disposed of each year at significant cost, while only a small fraction of the iodine they contain is recovered. Voyageur aims to be the first to change that equation, building what it believes will be the first economically profitable, field-proven iodine extraction process.

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 company plans to develop iodine production capacity of up to 1,000 tonnes per year to support future contrast pharmaceutical production. By developing the Mueller 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.