REG - MicroSalt PLC Tekcapital plc - New and Follow-on B2B Customer Orders

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30/10/2024 07:00

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RNS Number : 1398K  MicroSalt PLC  30 October 2024

 

 

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
(http://www.microsaltinc.co) , follow on X @microSaltPLC or contact:

 

 MicroSalt plc                                                                 Via Flagstaff PR
 Rick Guiney, CEO

 Flagstaff PR (Financial PR)                                                   +44 (0)20 7129 1474
 Tim Thompson / Alison Allfrey / Anna Probert

 microsalt@flagstaffcomms.com

 Zeus (Nominated Adviser and                                                   +44 (0)20 3829 5000
 Broker)

 David Foreman / James Edis (Investment Banking)

 Dom King (Corporate Broking), Rupert Woolfenden (Sales)

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

 

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