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(Alliance News) - Tekcapital PLC on Monday said its portfolio company MicroSalt has agreed a deal with US Salt LLC for the distribution and delivery of MicroSalt's low-sodium solutions.
The London-based intellectual property investment company said the partnership is expected to strengthen each companies' respective market positions as leaders in sodium reduction.
This is through expanding MicroSalt's customer base for MicroSalt and the product offerings for US Salt, with healthy, lower sodium alternatives.
"We are proud to work with US Salt in their efforts to offer low-sodium solutions to their customer base. US Salt as a leader in salt distribution, offering lower sodium as an active option in its ingredient listing," said MicroSalt Chief Executive Officer Rick Guiney.
"Excess sodium intake is one of the world's leading health concerns, and we believe that partnerships like this are a great way to expand our efforts to address the sodium reduction challenge."
US Salt Vice President of Sales & Marketing Bob Jordan added: "US Salt is looking forward to working with MicroSalt to help with our low-sodium initiatives. Sodium is a worldwide concern in the food industry, and we believe Rick and his team are the industry leaders that can help propel our future growth."
Tekcapital on Monday also announced new features for its Vyrb social audio app via portfolio company Innovative Eyewear, including a new "On Air" feature which allows users to create real-time audio chatrooms.
It believes this feature will be a useful tool for audio content creators and collaborative work.
In addition to the On Air feature, Vyrb's latest release includes an audio upload feature which allows users to transfer audio files created outside of Vyrb into the app, mix in sound effects, and share to their profile.
Shares in Tekcapital were up 6.9% to 21.65 pence each in London on Monday morning.
By Greg Rosenvinge, Alliance News reporter
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