MicroSalt has experienced a nearly fivefold increase in demand for its low-sodium salt from B2B customers, according to a business update released on Monday.
MicroSalt previously said it had received orders for 29 metric tonnes of its patented salt from one of the world’s largest food companies. However, the company’s business update released on Monday suggests that additional orders have followed those initial orders in much larger quantities.
Demand surged in Q3 of 2024, with commitments for orders of 350,000 lbs of MicroSalt’s salt, the equivalent of around 160 metric tonnes. It’s unclear whether this demand is from one customer or several customers, but MicroSalt is confident the momentum will continue into Q4.
The quantities outlined by MicroSalt would only be required by food manufacturers concerned with the production of millions of units of any given product line.
MicroSalt has been unable to name the companies it deals with due to the commercial sensitivities of integrating their salt into client products. We do, however, know that it is one of the world’s latest snack food companies, which narrows it down to a handful of household names.
MicroSalt said they will provide further updates in due course. These could well be the names of the food manufacturing giants they are working with, something investors are surely looking forward to learning about. It could also be further updates on orders.
In addition to the positive update on the B2B business, we learned of further expansion of the consumer business across the United States through a series of new placements in major retailers.
New placements include 350 Winn Dixie stores and 70 Fesh Thyme stores. MicroSalt’s low-sodium shakers can now be found in over 1,000 stores across the US.
“We are very excited about the placement of our MicroSalt products and the consequential growth in distribution within UNFI, Kehe and Ingredients Online,” said Rick Guiney, CEO of MicroSalt.
“All of these retailers have strong presence in their respective markets, and this continues our efforts to have MicroSalt in every kitchen pantry across the US and beyond.”