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®.”
“Presty! Foods is looking forward to working with MicroSalt® 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® 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®. 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® and SaltMe® 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:
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Tekcapital Plc |
Via Flagstaff IR |
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Clifford M. Gross, Ph.D. |
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SP Angel Corporate Finance LLP (Nominated Adviser and Broker) |
+44 (0) 20 3470 0470 |
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Richard Morrison / Charlie Bouverat (Corporate Finance) Rob Rees (Corporate Broking)
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Flagstaff Strategic and Investor Communications +44 (0)207 129 1474
Tim Thompson/Andrea Seymour/Fergus Mellon