TEKCAPITAL PLC

Regulatory Filings • Sep 7, 2023

National Storage Mechanism | Additional information

RNS Number : 6201L

Tekcapital plc

07 September 2023

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7 September 2023

Tekcapital Plc

("Tekcapital")

MicroSalt® files New Patent to Improve Baked Goods

Tekcapital Plc (AIM: TEK) the UK intellectual property investment group focused on creating valuable products that can improve people's lives, is pleased to announce that its portfolio company Microsalt Ltd ("Microsalt") has filed a new patent application (# 63/580,590) entitled "Compositions and methods for reduced leavening time and sodium content in doughs comprising micron-sized salt particles adhered to a carrier," to improve baked goods.

Highlights:

·    MicroSalt has recently demonstrated the successful utilisation of its proprietary low-sodium technology with a new recipe for use in baked goods

·    There is significant global demand for reducing sodium in a wide variety of baked goods

·    MicroSalt believes its new low sodium recipe reduces both sodium content and baking time for baked goods, enabling an improved nutritional profile coupled with a more sustainable and cost-effective production process

Rick Guiney, CEO of MicroSalt®, commented:

"We are very excited about our new invention which we believe enables the production of baked goods quicker, less expensively, and with reduced sodium. The bread market is extremely compelling for us, with global volumes expected to reach 216.7bn kg by 2028[1]. Our ability to not only reduce sodium but to enable a more efficient production process could be a watershed moment in the fight against excess sodium consumption, and we have already seen a high level of interest from one of the world's largest food companies."

Market Size

According to Statista the global bread market is estimated to be valued at US$0.5tn in 2023 and is expected to grow annually by 6.83% (CAGR 2023-2028).[2] MicroSalt believe that its new technology can be utilised on a wide variety of baked products to significantly reduce their current sodium concentrations. Potential product applications are listed below.

Common Types of Bread (2 slices/serving)[3]      Sodium Content (mg) per serving
White Bread	340
Whole Wheat Bread	276
Rye Bread	422
Multigrain Bread	253
Sourdough Bread	304
Mixed Grain Bread	253
Marble Rye and Pumpernickel Bread	346
White with Whole Wheat Swirl Bread	314
Reduced Calorie Bread (2 slices/serving)
Wheat Bread	235
White Bread	208
Multigrain Bread	158
Rye Bread	211
Other Bread Varieties (2 slices/serving)
Cracked Wheat Bread	269
Italian Bread	234
Oatmeal Bread	323
Raisin Bread	203
Wheat Bran Bread	350

Rolls and Buns (1 roll/serving)
Dinner Roll	146
Wheat Dinner Roll	95
Egg Dinner Roll	191
French Roll	231
Hamburger or Hotdog Roll	206
Mixed Grain Hamburger or Hotdog Roll	197

According to the U.S. Food and Drug Administration ("FDA"), 2,300 mg/day is the maximum recommended sodium consumption for healthy adults.[4] By reference, a single serving of white bread currently exceeds 14% of the daily maximum recommended consumption of sodium.

About MicroSalt

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 who wish to decrease the amount of sodium in their food. MicroSalt is 100% natural, non-GMO, gluten free, Kosher and contains no potassium chloride. To learn more about MicroSalt and MicroSalt® products, please visit www.microsalt.co.

Tekcapital owns 97% of the share capital of MicroSalt Ltd. and 6,034,683 shares (78%) 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 Tim Thompson/Andrea Seymour/Fergus Mellon         microsalt@flagstaffcomms.com		+44 (0)207 129 1474

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 and/or Tekcapital 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 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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[1] https://www.statista.com/outlook/cmo/food/bread-cereal-products/bread/worldwide#:~:text=In%20the%20Bread%20market%2C%20volume,growth%20of%203.9%25%20in%202024.

[2] https://www.statista.com/outlook/cmo/food/bread-cereal-products/bread/worldwide#:~:text=Revenue%20in%20the%20Bread%20market,US%2472bn%20in%202023).

[3] https://www.fatsecret.com/calories-nutrition/food/bread/sodium

[4] https://www.fda.gov/media/84261/download#:~:text=Americans%20eat%20on%20average%20about,1%20teaspoon%20of%20table%20salt

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