TIDMTEK
RNS Number : 7154C
Tekcapital plc
13 October 2022
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.
13 October 2022
Tekcapital Plc
("Tekcapital", the "Company" or "the Group")
Portfolio Company Update: MicroSalt, Ltd. ("MicroSalt")
Presty!(TM) Foods partners with MicroSalt(R) to offer
full-flavour, low-sodium prepared meals
Tekcapital Plc (AIM: TEK), (OTCQB: TEKCF) the UK intellectual
property investment group focused on creating valuable products
from investing in university technology that can improve people's
lives, is pleased to announce that MicroSalt announced a
partnership with Presty! Foods for the development and roll-out of
low-sodium solutions across Presty's line for plate-ready
meals.
"We are proud to work with Presty! Foods in their efforts to
offer low-sodium solutions to their customer base. We view Presty
as a thought leader in offering lower sodium as an active option in
its ingredient listing. Excess sodium consumption is a leading
contributor to hypertension and cardiovascular disease, and
partnerships like this are the best way to make a difference in our
efforts to address the sodium crisis," said Rick Guiney, CEO of
MicroSalt(R)."
"Presty! Foods is looking forward to working with MicroSalt(R)
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 Presty! Foods for future
growth," said Maxime Gervaise Presty, founder of Presty!
Foods."
This partnership is expected to have a significant impact on
both companies, including:
-- MicroSalt(R) and Presty! Foods being positioned as leaders in
the low-sodium prepared foods initiative.
-- Expanding their customer base around the globe with healthy, lower sodium alternatives.
This partnership marks MicroSalt's entrance into the plate-ready
meals market, a new industry segment for the Company.
Market Opportunity
The global ready meals market size was valued at US$138 billion
in 2021, and is expected to reach $408 billion by 2031, with a CAGR
of 11.9% during the forecast period.
About Presty! Foods
The Presty! Foods brand was founded in a blending of innovative
and diverse cultures, travels, tastes, and people, and every
plate-ready meal they develop should continue to embody that spirit
of delicious innovation. They manufacture Presty and Private Label
brands in their facility in France, where they specialize in
developing innovative and delicious options to supply the booming
Heat and Eat category, which grew 297% in 2018, creating
differentiated recipes unique to the U.S. market. To learn more
about Presty! Foods please visit https://prestyfood.com/ .
About MicroSalt
MicroSalt, is the developer and manufacturer of a proprietary
low-sodium salt called MicroSalt(R). We are passionate about
improving peoples' lives with better-for-you seasonings and snacks
by taking the lead in the industry by providing the best low-sodium
salt solution, based on the mechanical transformation of the salt
particle itself. This solution is the only one that delivers real
salt flavor because it is salt. Our new patented 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. Additionally, the ultra-small particle size
enhances product adhesion, which reduces waste and provides
improved flavor consistency. MicroSalt(R) and SaltMe(R) are
registered trademarks of MicroSalt Inc.
To learn more about MicroSalt please visit
https://www.microsaltinc.com
Tekcapital owns 97.2% of the share capital of MicroSalt Ltd. and
73% of MicroSalt Inc. its U.S. subsidiary.
About Tekcapital plc
Tekcapital creates value from investing in new,
university-developed discoveries that can enhance people's lives
and provides a range of technology transfer services to help
organisations evaluate and commercialise new technologies.
Tekcapital is quoted on the AIM market of the London Stock Exchange
(AIM: symbol TEK) and is headquartered in the UK. For more
information, please visit www.tekcapital.com .
LEI: 213800GOJTOV19FIFZ85
For further information, please contact:
Tekcapital Plc Via Flagstaff IR
Clifford M. Gross, Ph.D.
SP Angel Corporate Finance LLP (Nominated
Adviser and Broker) +44 (0) 20 3470 0470
Richard Morrison / Charlie Bouverat (Corporate
Finance)
Rob Rees (Corporate Broking)
Flagstaff Strategic and Investor Communications +44 (0)207 129
1474
Tim Thompson/Andrea Seymour/Fergus Mellon
This press release is for informational purposes only. The
information herein does not constitute investment advice nor an
offer to invest and may contain statements related to our future
business and financial performance and future events or
developments involving MicroSalt that may constitute
forward-looking statements. These statements may be identified by
words such as "expect," "look forward to," "anticipate" "intend,"
"plan," "believe," "seek," "estimate," "will," "project" or words
of similar meaning. We may also make forward-looking statements in
other reports, in presentations, in material delivered to
customers, stakeholders and in press releases. In addition, our
representatives may from time to time make oral forward-looking
statements. Such statements may be based on the current
expectations and certain assumptions of MicroSalt's and/or
Tekcapital's management. Please note that these are subject to a
number of risks, uncertainties and factors, including, but not
limited to those described in various disclosures. Should one or
more of these risks or uncertainties materialize, or should
underlying expectations not occur or assumptions prove incorrect,
actual results, performance or achievements of MicroSalt or
Tekcapital may vary materially from those described explicitly or
implicitly in the relevant forward-looking statement. Neither
MicroSalt nor Tekcapital intends, nor assumes any obligation, to
update or revise these forward-looking statements in light of
developments which differ from those anticipated.
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END
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