MicroSalt, the low-sodium technology company founded by Tekcapital, has released an encouraging maiden interim report highlighting increasing traction with the world’s largest food companies.
The financial results for the first half are not a fair reflection of the company’s progress given much has been allocated to R&D and testing that was still ongoing during the period.
From an investor’s perspective, the most important take aways for MicroSalt’s maiden interim report is that the world’s largest food companies have upped their orders from the company after the half year period ended.
In many respects, the half year period should be overlooked and focus placed on the circa 100mt of orders committed in post the interim period. This is a significant increase in interest from customers.
MicroSalt is yet to announce the customer’s it’s working with. However, when it does, one would expected this company to attract a lot of investor interest.
Rick Guiney, CEO of MicroSalt, was upbeat on the company’s progress:
“The first half continued Microsalt’s 2023 momentum, with its successful IPO, operational and R&D progress, and coupled with preparation for upcoming commercial B2B customer product launches. In addition to progress made in North America, our geographic outreach is expanding with inroads into Asia, Australia, South Africa, the UK, Germany, Canada and Latin America with a resultant boost to our sales pipeline. We look to the future with confidence in both our product range and health proposition.”