Select Water Solutions Announces Definitive Agreement with ISE Chemicals Corporation Providing for the Development of Commercial Iodine Production Facilities Utilizing Produced Water Infrastructure Across Texas, New Mexico and Oklahoma

First Permian Basin Commercial Iodine Facility Targeted for Commissioning in 2027 

~3,000 Tonnes Per Year of Iodine Production Targeted by End of 2030

Collaboration Represents One of the First Large-Scale Efforts to Commercialize Iodine Recovery from Produced Water Utilizing Existing Oilfield Water Infrastructure in the United States

GAINESVILLE, Texas, June 25, 2026 /PRNewswire/ -- Select Water Solutions, Inc. ("Select", NYSE and NYSE Texas: WTTR) announced today that subsidiaries of Select and ISE Chemicals Corporation ("ISE Chemicals") (TSE: 4107) have entered into a definitive agreement providing for the development of commercial-scale iodine extraction and refining facilities utilizing produced water sourced through Select's Water Infrastructure network across Texas, New Mexico and Oklahoma.

Under the agreement, ISE Chemicals would fund, design, construct, own, and operate iodine extraction and refining facilities, while Select would provide produced water sourcing, transportation, storage, pretreatment, recycling, and infrastructure support through its existing Water Infrastructure platform, for which Select will receive a royalty payment. The formal collaboration is intended to establish a new U.S. domestic source of iodine while creating an additional value stream from produced water managed across Select's comprehensive network.

The initial commercial facility is expected to be commissioned in 2027 and will be located within Select's core Permian Basin footprint. The facility represents the first phase of a broader development program designed to evaluate scalable expansion opportunities across Select's extensive produced water infrastructure network, with ~3,000 tonnes per year of iodine production targeted by the end of 2030.

Advancing Select's Water Infrastructure Growth Strategy

The agreement further advances Select's strategy of expanding the value generated from its Water Infrastructure segment. As customer demand for sustainable water management continues to increase, Select believes its extensive network of pipelines, treatment facilities, storage assets, recycling systems, and disposal infrastructure provides a unique foundation for resource recovery initiatives from existing produced water streams.

Similar to Select's previously announced resource recovery initiatives, the iodine recovery collaboration with ISE Chemicals demonstrates the Company's commitment to identifying innovative opportunities that create additional value from produced water. By combining Select's extensive Water Infrastructure network and operational expertise with ISE Chemicals' industry-leading iodine extraction capabilities, the companies intend to establish a scalable platform for resource recovery that complements and enhances Select's core Water Infrastructure business.

"Select has consistently focused on creating long-term value from our Water Infrastructure platform and maximizing the value of produced water managed across our network," said John Schmitz, Chairman, President and Chief Executive Officer of Select Water Solutions.

"By combining Select's infrastructure network, water treatment capabilities, and produced water expertise with ISE Chemicals' nearly century-long leadership in iodine production, we believe we can unlock a new resource recovery opportunity from produced water while supporting domestic supply-chain resiliency for critical industrial materials.

"Our Water Infrastructure segment continues to be a significant growth driver for Select, and this collaboration exemplifies how we can leverage that infrastructure footprint to create additional value streams from produced water while continuing to serve our customers' core water management needs," Schmitz concluded.

Toshiro Kasuya, President and Chief Executive Officer of ISE Chemicals Corporation, stated, "ISE Chemicals has a long history of producing iodine from naturally occurring brine resources and supplying high-quality iodine products to customers around the world. Through our existing U.S. subsidiary and operations, Woodward Iodine Corporation, we are excited to team up with Select to commercialize a new source of iodine utilizing produced water resources available through Select's extensive infrastructure network.

"As global demand for iodine continues to grow across medical, industrial, electronics, and specialty chemical applications, we believe this collaboration provides a compelling opportunity to expand domestic production capacity while applying ISE Chemicals' extraction and processing expertise to an innovative new resource base," Kasuya concluded.

The companies believe the collaboration represents one of the first large-scale efforts to commercialize iodine recovery from produced water utilizing existing oilfield water infrastructure in the United States and provides a scalable platform for future resource recovery opportunities.

Additional details regarding facility capacity, development timelines, and future expansion phases will be announced as engineering studies and development planning progress.

About Select Water Solutions, Inc.

Select is a leading provider of sustainable water and chemical solutions to the energy industry. These solutions are supported by the Company's critical water infrastructure assets, chemical manufacturing and water treatment and recycling capabilities. As a leader in sustainable water and chemical solutions, Select places the utmost importance on safe, environmentally responsible management of water throughout the lifecycle of a well. Additionally, Select believes that responsibly managing water resources throughout its operations to help conserve and protect the environment is paramount to the Company's continued success.  For more information, please visit Select's website, https://www.selectwater.com.

About ISE Chemicals Corporation

ISE Chemicals Corporation views its role as transforming natural resources into valuable products for customers. Founded in 1927, ISE Chemicals began by extracting iodine from seaweed and later expanded to producing iodine from underground resources such as brine. It has grown into a leading global supplier, with operations in Japan and the United States, and has diversified into metal compounds. Its success is driven by technological innovation and human expertise. Looking ahead to its 100th anniversary in 2027, ISE Chemicals aims to advance efficient production, develop human resources, and contribute to a sustainable society through responsible and reliable business practices. More information is available at https://www.isechem.co.jp/en/.

Cautionary Statement Regarding Forward-Looking Statements

All statements in this communication other than statements of historical facts are forward-looking statements which contain our current expectations about our future results. We have attempted to identify any forward-looking statements by using words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast" "intend," "may," "plan," "potential," "preliminary," "project," "see," "should," "target," "will," and other similar expressions. Examples of forward-looking statements include, but are not limited to, the expectations of plans, business strategies, objectives and growth, projected financial results and future financial and operational performance, expected capital expenditures, our share repurchase program and future dividends. Although we believe that the expectations reflected, and the assumptions or bases underlying our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause our actual results, events or financial positions to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include the risks that the benefits contemplated from our recent acquisitions may not be realized, the ability of Select to successfully integrate the acquired businesses' operations, including employees, and realize anticipated synergies and cost savings and the potential impact of the consummation of the acquisitions on relationships, including with employees, suppliers, customers, competitors and creditors. Factors that could materially impact such forward-looking statements include, but are not limited to: global economic distress, including that resulting from the sustained Russia-Ukraine war and related economic sanctions, instability and continued hostilities in the Middle East, including military conflict involving Iran, instability in Venezuela, economic uncertainty as a result of changing trade policies, disruptions in global oil and gas markets; inflation and high interest rates, each of which may decrease demand for oil and natural gas or contribute to volatility in the prices for oil and natural gas, which may decrease demand for our services; the ability to source certain raw materials and other critical components or manufactured products globally on a timely basis from economically advantaged sources, including any delays and/or supply chain disruptions due to increased hostilities in the Middle East; actions taken by the members of the Organization of the Petroleum Exporting Countries ("OPEC") and Russia (together with OPEC and other allied producing countries, "OPEC+") with respect to oil production levels and announcements of potential changes in such levels, including the ability of the OPEC+ countries to agree on and comply with announced supply limitations, which may be exacerbated by military conflict in the Middle East involving Iran and the resumption of sales of previously sanctioned oil from Venezuela and Russia; the impact of central bank policy actions, such as sustained, elevated  interest rates in response to, among other things, high rates of inflation, and disruptions in the bank and capital markets; the degree to which consolidation among our customers may affect spending on U.S. drilling and completions activity, including the recent consolidation in the Permian Basin; impacts related to changing U.S. and foreign trade policies, including increased trade restrictions or tariffs; the impact of changes in diplomatic and trade relations, and the results of countermeasures and any tariff migration initiatives; changes in safety, health, environmental and other governmental policy and regulation; the enactment or promulgation of new laws or regulations or changes or modifications in existing laws, regulations, rules or governmental policies with respect to taxation; the level of capital spending and access to capital markets by oil and gas companies in response to changes in commodity price or reduced demand; the potential deterioration of our customers' financial condition, including defaults resulting from actual or potential insolvencies; trends and volatility in oil and gas prices, and our ability to manage through such volatility; the impact of current and future laws, rulings, governmental regulations and policies, including those related to accessing water, disposing of wastewater, transferring produced water, interstate freshwater and produced water transfer, chemicals, carbon pricing, pipeline construction, emissions, hydraulic fracturing, leasing, permitting or drilling on federal lands and various other environmental matters; regional impacts to our business, including our key infrastructure assets within the Permian Basin, the Bakken, and the Haynesville regions; capacity constraints on regional oil, natural gas and water gathering, processing and pipeline systems that result in a slowdown or delay in drilling and completion activity, and thus a decrease in the demand for our services in our core markets; the impact of regulatory and related policy actions by federal, state and/or local governments, such as the Inflation Reduction Act of 2022, which may negatively impact the future production of oil and gas in the U.S., thereby reducing demand for our services; our ability to hire and retain key management and employees, including skilled labor; our access to capital to fund expansions, acquisitions and our working capital needs and our ability to obtain debt or equity financing on satisfactory terms, or at all; our health, safety and environmental performance; the impact of competition on our operations; the degree to which our exploration and production customers may elect to operate their water-management services in-house rather than source these services from companies like us; our level of indebtedness and our ability to comply with covenants contained in our sustainability-linked credit facility or future debt instruments; delays or restrictions in obtaining permits by us or our customers; constraints in supply or availability of equipment used in our business; the impact of advances or changes in well-completion technologies or practices that result in reduced demand for our services, either on a volumetric or time basis; changes in global political or economic conditions, generally, and in the markets we serve, including the rate of inflation and potential economic recession; acts of terrorism, war or political or civil unrest in the U.S. or elsewhere, such as the Russia-Ukraine war, the instability and continued hostilities in the Middle East, including military conflict involving Iran and any potential conflict with Venezuela; information technology failures or cyberattacks; accidents, weather, natural disasters or other events affecting our business; and the other factors discussed or referenced in the "Risk Factors" section of our most recent Annual Report on Form 10-K and those set forth from time to time in our other filings with the SEC. Investors should not place undue reliance on our forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law.

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