Intellectual property investor Tekcapital (LON: TEK) have expanded their portfolio company Salarius Ltd (NASDAQ: SLRX) has secured a new customer for patented MicroSalt, causing stock prices to soar.
Shares in Tekcapital rose during Wednesday trading by 10.66% at 6.53p per share.
Tekcapital owns 97.5% of the share capital of Salarius ltd. In Salarius portfolio update, consumers were given an insight into Microsalt stating “Salarius, is the developer and manufacturer of a proprietary low sodium salt called MicroSalt. Salarius is passionate about improving lives with healthier food and is taking the lead in the industry by providing the best low-sodium salt solution, based on the mechanical transformation of the salt particle itself”
A major selling point was the amount of reduced sodium, amidst a shift in importance to health guidelines. “The technology produces salt crystals that are approximately one hundred times smaller than typical table salt, delivering a powerful saltiness as the micro-grains dissolve in the mouth, with approximately 50% less sodium consumption”
Salarius have worked an agreement with a diversified snack manufacturer to include Microsalt in the production of company snacks. However, no financial terms of the contract have been published.
Tekcapital’s executive DR Chairman Clifford Gross added “We are glad to see Salarius’ continued market traction as it expands its customer base and believe that MicroSalt has the potential to empower consumers worldwide to enjoy full-flavour snacks with reduced sodium,”
Salarius Chief Executive Victor Manzanilla said “The snack food market is highly competitive, with snack food manufacturers competing for shelf space with competitor brands at small, mid-size and large leading retailers. One way these snack food manufacturers are differentiating themselves in such a crowded market is by having a heathier alternative version of their most popular brands, and they are learning they can do this with MicroSalt without sacrificing the taste of their products.”
The patented Microsalt has been a product development funded by Tekcapital, and the success has paid off after landing this huge contract.
Tekcaptial have seemed to tap into an exciting market with the development of Microsalt.
The low sodium ingredients market is estimated to reach $1.76 billion by the end of 2025, with a compound annual growth rate of 11.7%.
Additionally, the global savory snacks market is continually evolving. As it is a considered a highly competitive market, the expected growth will peak $108 billion by 2021.
Victor Hugo Manzanilla, CEO of Salarius said: “We are very excited with this new customer collaboration. The snack food market is highly competitive, with snack food manufacturers competing for shelf space with competitor brands at small, mid-size and large leading retailers. One way these snack food manufacturers are differentiating themselves in such a crowded market is by having a heathier alternative version of their most popular brands, and they are learning they can do this with MicroSalt® without sacrificing the taste of their products.
Many companies are making the shift to healthy alternatives to differentiate themselves from market competition.
By using Microsalt, firms are given the flexibility of creating the same snacks with less sodium content, without giving up quality and taste.