Tekcapital PLC (LON:TEK) shares jumped higher on Thursday after the firm told investors that its portfolio company Salarius Ltd has completed a follow-on order for MicroSalt with an American snack food company.
Salarius has developed MicroSalt which is a proprietary salt comprising micron-size salt particles that dissolve in the mouth significantly faster than regular salt. It creates a higher sensation of saltiness with much less salt. As a result, products using MicroSalt can contain around 50% less sodium.
In addition to the US order, Salarius has now completed test production of its potato chip snacks, branded SaltMe.
The plan is to introduce SaltMe as a line of ‘full-flavor, low-sodium’ potato chips later this year – the production range will include four flavours original, barbecue, sour cream & onion and cheddar & sour cream.
TekCapital highlighted that in panel testing with ‘salty snack buyers’ SaltMe saw weighted purchase intent of 27.75%, which is described as being significantly higher than average for new product initiatives.
"We are very glad to announce the follow-on order for MicroSalt and the successful test production of our new SaltMe chips,” said Victor Hugo Manzanilla, Salarius chief executive.
“Consumers are aware of the need to eat healthier and select better-for-you options when available. MicroSalt and SaltMe snacks will help consumers reduce sodium consumption whilst providing the great salty taste they enjoy. MicroSalt is non-GMO and all natural,” he added.
TekCapital chairman Clifford Goss, meanwhile, said he was delighted with the continued progress being made by the Salarius team.
“MicroSalt has the potential to empower companies and consumers worldwide to enjoy full-flavour snacks with reduced sodium,” he added.
TekCapital owns 97.5% of Salarius ltd’s share capital.
In early morning trading, shares in Tekcapital were 14.4% higher at 12.75p.
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