After an additional 27% gain on Tuesday, MicroSalt shares have now more than doubled since listing in London less than two weeks ago.
MicroSalt was the first company to list on London’s AIM in 2024 and has started life as a listed company with a bang.
Shares were changing hands at 87p at the time of writing after trading as high as 92p earlier in the session. MicroSalt’s admission price was 43p.
The company has developed low-sodium salt technology that reduces sodium in the salt by as much as 50%.
The World Health Organisation estimates 1.8 million people die each year from cardiovascular diseases as a result of consuming too much sodium.
The company has kicked off its fight against sodium consumption with a string of commercial deals and and partnerships with major food company. MicroSalt has already won commercial orders from one of the world’s largest snack food manufacturers.
The company sees a big opportunity in the B2B market and plans to work with potential partners to reformulate their ingredients using MicroSalt’s technology.
“Most of that salt in people’s diets comes from prepared foods that they’ve purchased, not from salts that they add at home when they’re cooking, or from salts that they add at the table. There is a real business to business opportunity to provide an ingredient that enables food manufacturers to reduce salt levels,” said Judith Batchelar OBE, Non-Executive Chair of MicroSalt.
“MicroSalt does work, and it does work universally in different products. The UK government sets salt targets by each individual food category. There are 84 different categories of food, all of which have their own salt target. You will find MicroSalt works in most of those product categories and in different applications.
MicroSalt is a Tekcapital portfolio company who retain a 77.2% stake in MicroSalt.