Tekcapital shares hit the highest levels since June on Thursday after announcing their portfolio company MicroSalt had filed a new patent focused on baked goods production.
The new patent entitled “Compositions and methods for reduced leavening time and sodium content in doughs comprising micron-sized salt particles adhered to a carrier,” marks an exciting new bow to the string of MicroSalts technology and commercial opportunities.
The global bread market is estimated to be worth some $500bn and the opportunity for MicroSalt is potentially game-changing.
Not only can MicroSalt’s technology reduce the sodium in bread and baked goods, MicroSalt believes their low-sodium salt technology can reduce baked goods production time and provide producers with cost efficiencies.
Should MicroSalt gain substantial market traction in the dough industry, the revenue opportunities will be immense.
“We are very excited about our new invention which we believe enables the production of baked goods quicker, less expensively, and with reduced sodium. The bread market is extremely compelling for us, with global volumes expected to reach 216.7bn kg by 2028,” said Rick Guiney, CEO of MicroSalt.
“Our ability to not only reduce sodium but to enable a more efficient production process could be a watershed moment in the fight against excess sodium consumption, and we have already seen a high level of interest from one of the world’s largest food companies.”
MicroSalt are currently preparing for an AIM IPO having appointed Zeus Capital as their Nominated Advisor. In a portfolio company update issued in August, Tekcapital said: “MicroSalt Ltd has been making steady progress towards its planned IPO”.
Tekcapital shares were 2% higher at the time of writing after trading at 12.38p earlier in the session – the highest level since June this year.