(Alliance News) - Tekcapital PLC on Thursday said portfolio company Salarius Ltd has secured and delivered a follow-on order for MicroSalt to a US snack food company and has completed test production of SaltMe crisps.
Shares in Tekcapital were up 4.6% at 11.66 pence in late morning trade.
Information on the follow-on order for MicroSalt, such as the name of the US snack food company or the value of the order, were not disclosed.
Tekcapital is a UK intellectual property investment firm investing in technology and has a 97.5% stake in Salarius, which develops and manufactures MicroSalt.
MicroSalt is made with micron-size salt particles that dissolve more quickly than ordinary salt. This makes MicroSalt much more salty than other salts, so less is needed to flavour food. Further, MicroSalt's particles stick more easily to a food's surface, so less falls off in transport.
Panel testing of SaltMe potato crisps, which are flavoured with MicroSalt, showed that "amongst salty snack buyers" it produced a weighted purchase intent of 28% - "significantly higher than average new product initiatives". Tekcapital did not provide the number of snack buyers surveyed during panel testing in its press release.
Salarius intends to launch a SaltMe line of low-sodium crisps in four flavours: original, sour cream & onion, barbecue, and cheddar & sour cream.
Tekcapital Executive Chair Clifford Gross said: "We are delighted with Salarius' continued progress as a result of the terrific work of Victor Manzanilla their CEO, and his capable team. MicroSalt has the potential to empower companies and consumers worldwide to enjoy full-flavour snacks with reduced sodium."
TekCapital (TEK)