Tekcapital (AIM:TEK ) has raised a total of £0.38m at a price of 8p which primarily will be used to enable Guident and Salarius take advantage of new commercial opportunities.
Guident
The group intends to increase investment in its portfolio group Guident, committing up to US$0.35m to facilitate the rapid design and fabrication of new regenerative shock absorbers for road testing by two listed automotive firms that recently signed NDAs with Guident.
Tekcapital said back in September 2020 that Guident had acquired a new regenerative shock absorber technology which is designed to extend the driving range of electric vehicles.
According to Allied Market Research, "the autonomous vehicle market is expected to reach $556 billion by 2026 with a CAGR of 39%”. The company also acknowledged that contactless or "touch-free" delivery remains in high demand due to the COVID 19 pandemic.
Tekcapital also intends to increase investment in Salarius, committing up to $15m for sales and product support for B2B sales of MicroSalt® in Mexico following the recently signed distribution agreement with FXM Ingredients, a leading food ingredient supplier in Mexico.
It has described this as ‘a timely opportunity’ for its portfolio company, Salarius, at a time when the Mexican government has just enacted a new law in October 2020 where front of package labelling for snack foods containing large amounts of sodium will be required.
Under the new law, NOM-051, products that exceed 350mg of sodium per 100g of product, will need to prominently display the warning, ‘Exceso de Sodio.’ As a result, Tekcapital said snack food companies are ‘keen to lower their sodium content on a wide range of products.’
In Mexico, 2020 revenue in the snack food segment is projected to be US$5.68 billion.
Salarius
Meanwhile, Salarius is also seeking to enhance their upcoming Amazon launch and sales of SaltMe® crisps by producing and including small (1 oz) retail bag design and inventory in addition to their 5oz family size packaging.
Tekcapital said its previous guidance for its portfolio group Belluscura’s timing for the likely receipt of FDA clearance for the X-PLO2R, intended for the provision of supplemental oxygen to patients with chronic pulmonary diseases, in H2 remains unchanged.
"We are pleased to announce the completion of this placing as it will enable us to accelerate the further development of Guident ltd and Salarius ltd as they seek to capitalise on recent positive developments,” said Clifford M. Gross Ph.D., Executive Chairman of Tekcapital.
He added, “Progress with Lucyd® ltd is on track with their new Lyte E-glasses and our previous guidance regarding the likely receipt of FDA clearance by Belluscura plc in H2 remains unchanged."
Shares in Tekcapital have traded within a range of 8p and 9.7p over the past two weeks to open 8.57% higher this morning at 9.5p following the announcement.
3 Reasons to follow TEK:
Tekcapital’s mission is to create value from university Intellectual property that is ready for mass markets.
- TEK has the World’s largest network of University IP
- TEK enables rapid value creation with market ready technology selection
- Multi-Year track record of significant revenue and net-asset growth
Recent news on Guident
Tekcapital’s portfolio company Guident, which provides AI solutions for autonomous vehicles, entered into an alliance with Cirrus Core Networks, Inc (“CNN”) earlier this month for enhanced mobile connectivity with cutting-edge mobility solutions.
This strategic alliance between Cirrus Core Networks and Guident has been dubbed “a significant step towards a low latency and secured connectivity for any autonomous vehicle” by Adam Crane, Co-founder and Chief Executive Officer of Cirrus Core Networks.
According to Allied Market Research, "the autonomous vehicle market is expected to reach $556 billion by 2026 with a CAGR of 39% while "touch-free" delivery is in high demand due to the COVID 19 pandemic.
Harald Braun, CEO of Guidant discussed how increased demand will accelerate the roll-out of land-based delivery drones for food and medicines to improve their availability and reduce the costs of these deliveries.
Recent News on Salarius
Meanwhile, Tekcapital’s portfolio company, Salarius, signed a partnership agreement last month with FXM to lead B2B sales and marketing of MicroSalt® in Mexico and Latin America, marking the first time that MicroSalt® will be sold outside the United States.
Victor Hugo Manzanilla, CEO of Salarius, recently discussed how its patented technology can create nano salt with low sodium whilst keeping the full flavour profile of traditional salt. He also discusses how regulation changes are driving their business, outlines the numerous distribution channels they have in place and the success of their SaltMe! crisps.
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