TEK Tekcapital Plc

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

30 October 2024

MicroSalt plc

("MicroSalt®" or the "Company")

New and follow-on B2B customer orders

MicroSalt plc (AIM: SALT), a leading provider of full-flavour natural salt with approximately 50% less sodium, is pleased to announce it has received several new bulk purchase orders including from a new B2B customer.

Customer C - first order

Customer C is one of the world's largest food, soft drink and snack manufacturers. Following a lengthy testing period across multiple product lines, MicroSalt has received an initial purchase order for approximately 50,000 lbs / 22 mT, with customer production using MicroSalt expected in November. MicroSalt® is to be used in one of the customer's category leading food product lines. Annualised projections discussed with the customer exceed 200,000 lbs / 91 mT. The Company also anticipates additional purchase orders for Microsalt® in two more product lines, including a globally distributed cereal brand and energy bars in the first quarter of 2025.

Customer B -follow on orders

Customer B is the Mexican business of Customer C and one of MicroSalt's longest standing B2B customers. Customer B has placed further orders for 63,860 lbs / 29 mT of MicroSalt® for delivery in January 2025. The Company expects this volume to annualise at approximately 640,000 lbs / 290 mT.

New B2B customer orders

The Company has also received two orders totaling approximately 3,000 lbs / 1 mT from the Canadian operations of one of the world's largest spice and ingredient companies to be used in their production of a lower sodium seasoning.

Rick Guiney, CEO of MicroSalt, commented: 

"We are very excited to have received a significant new initial order for MicroSalt to replace traditional salt in a major product line, adding to product lines previously launched with a globally recognised customer. Based on our ongoing discussions and the progress to date, we are also looking forward to the addition of Microsalt to other well-known product lines for this customer. Our progress within the spice and ingredient community as well as the successful efforts put forth at the SIAL event in Paris last week, is evidence that the hard work put in by the Microsalt team is bearing fruit globally."

About MicroSalt plc

MicroSalt® is dedicated to innovating food technology solutions that enable people to live longer, healthier, and happier lives. Its patented low-sodium salt delivers natural salt with approximately 50% less sodium and may be used by both consumers and food manufacturers to decrease the amount of sodium in their food. SaltMe! chips are produced using MicroSalt®, a patented innovative salt technology which is 100% natural, non-GMO, gluten free, and Kosher certified, that does not contain any potassium chloride.

For more information, please visit www.microsaltinc.co, follow on X @microSaltPLC or contact:

Notes to Editors

MicroSalt® produces a patented full-flavour, low-sodium salt for food manufacturers and consumers.

MicroSalt is a major potential disruptor in the food market, thanks to its micron-sized particles which deliver the same sense of saltiness to a wide range of foods but with approximately 50% less sodium. Excess sodium consumption is a significant contributor to cardiovascular disease and MicroSalt's solution meets the rising demand for healthier alternatives to traditional salt. The WHO has set a target for reducing global sodium intake by 30% by 2025, which it estimates will save 7 million lives by 2030.

Each year, cardiovascular disease costs the UK £19 billion - if the average salt intake was reduced by one gram per day, it has been estimated that 4,147 lives and £288 million would be saved each year in the UK. As a nation, the UK consumes 183 million kilograms of salt each year, and 70% of the typical person's sodium intake is hidden in processed foods.

Operational since 2018, MicroSalt owns a patent-protected technology which we believe helps create high barriers to entry within the reduced-sodium salt market.

The Directors believe that MicroSalt is well positioned to capture growth in the low sodium market, which is expected to grow exponentially, and that there is also scope to enter the larger salt market.

ENDS