TIDMLST
Light Science Tech. Holdings PLC
05 October 2023
REACH
Light Science Technologies Holdings plc
("LSTH", the "Company" or the "Group")
Expansion of CEA Division's Global Reach
Consultancy Appointment of Industry Expert Richard Mills - to
implement global partnerships
Light Science Technologies Holdings plc (AIM: LST), the
controlled environment agriculture ("CEA") technology and contract
electronics manufacturing ("CEM") group, announces that it has
appointed Richard Mills as an external consultant via his agency
Arkif Limited ("Arkif"), to scope and implement global partnerships
to sell the Group's NurturGROW lights, SensorGROW sensors and
Tomtech control systems.
The Group is focused on expanding internationally - and global
partnerships will provide a low cost entry point while enabling
LSTH to diversify its reach of full turn key solutions into regions
where growers have been less impacted by high input costs. Initial
scoping has been completed and the regions of North America,
Australasia and specific locations in the Middle East have been
identified for partnership building with businesses that are
synergistic with the Group's product range. For grow lights alone,
the Group's total addressable market is experiencing strong
compound annual growth and is expected to be worth in excess of
US$6.5 billion, globally, by 2026*.
Arkif has a range of clients covering solar, greenhouses,
sustainable waste management as well as investors and it is
targeting opportunities that could include participation in a
broader turnkey project for sustainable farming.
Richard spent five years as Managing Director of Haygrove
Limited's Growing Systems Division, where he was the international
leader of its polytunnel and growing systems business with GBP70m
annual revenues and 200+ staff.
This role included commercial international expansion of the
business into new territories though a group of eight companies as
well as developing a marketing strategy to move the business into
the higher technology sector of greenhouse technology applied at
field scale.
Richard's global CEA experience includes expanding Haygrove into
new markets, from conceptualisation, through planning and
implementation, rolling new businesses out in China, Germany and
India. His tenure saw an 80% growth in revenues and 300%
improvement in profitability.
Simon Deacon, Chief Executive Officer of LSTH, commented : "We
are delighted to bring Richard's extensive experience of CEA into
the team. Whilst the UK and European CEA Markets are struggling due
to high input costs, there are Global regions with challenging
climatic conditions that are not as heavily impacted by these high
input costs, where CEA is currently flourishing. We believe that
our products will provide value in these markets and look forward
to working with Richard to develop and monetise these
opportunities."
*SOURCE: Mordor Intelligence
For additional information please contact:
Light Science Technologies Holdings www.lightsciencetechnologiesholdings.com
plc
Simon Deacon, Chief Executive Officer via Walbrook PR
Jim Snooks, Chief Financial Officer
Andrew Hempsall, Chief Operating
Officer
Walbrook PR Ltd (Media & Investor Tel: +44 (0)20 7933 8780 or
Relations) lst@walbrookpr.com
Nick Rome / Paul McManus
About Light Science Technologies Holdings plc (
www.lightsciencetechnologiesholdings.com )
Light Science Technologies Holdings plc is the holding company
of the Group's controlled environment agriculture ("CEA") division,
comprising Light Science Technologies Ltd ("Light Science
Technologies") and Tomtech (UK) Limited ("Tomtech"), alongside its
contract electronics manufacturing ("CEM") division, UK Circuits
and Electronics Solutions Limited ("UK Circuits").
Controlled Environment Agriculture
Light Science Technologies was founded in 2019 and is the
Company's grow lights and sensor technology business, providing
bespoke recipes and technologies tailored to customers' needs -
with key targets including indoor, vertical, glasshouses,
polytunnels and medicinal farming markets. The all-in-one CEA
solution will include analysing customers' crop growing
requirements to provide bespoke, low-energy and sustainable
equipment. Tomtech, which was acquired in September 2023, further
broadened the Group's portfolio with its control systems usable
across multiple crops in glasshouses and other horticultural
environments. Additionally, it generates long-term recurring
revenues via maintenance, servicing, and software contracts.
Market drivers include food and water shortages in many parts of
the world; growing global population; UK and other government
policy encouraging sustainable and efficient growth methods;
increased scrutiny of the effect of food production on climate
change and the continuing transition away from processed foods.
sensorGROW
sensorGROW was launched in June 2022 and its technology will
enable farmers to monitor the following key air zone growing
factors in real-time: carbon dioxide levels, humidity, light,
oxygen - and in the future: air speed, plant disease, soil,
temperature and water pH levels. By monitoring these key growing
factors, farmers can save money through better management of
resources: water, nutrients, fertilisers and energy - while
increasing yields and producing healthier crops.
nurturGROW
nurturGROW is a sustainable grow lighting product range,
offering an innovative, high-performance and cost-effective
solution for indoor farming, covering greenhouses, vertical
farming, polytunnels and medicinal plants.
Created with four core component parts, the nurturGROW range is
made of high quality, durable materials to give growers the ideal
balance between strength and optimal performance, minimising the
amount of materials needed to drastically cut down on waste and
reduce carbon footprint.
Tomtech
Tomtech was established in 1986 as a sole trader and
incorporated as Tomtech (UK) Limited in 2011. Since then, it has
become a UK leader in control systems for commercial greenhouses
and polytunnels. Since launching its first product over 35 years
ago, it has been at the forefront of the sector, providing
innovative and effective products and solutions.
It now provides comprehensive solutions to customers helping
them create, monitor and maintain an optimised cultivating
environment within glasshouses and other horticultural spaces. Its
sensors monitor temperature, humidity, light, carbon dioxide, pH,
nutrients and more - whilst its intelligent systems help control
irrigation, fertigation, dosing, ventilation, light and more.
Its highly adaptive systems are used throughout the UK and
Ireland to optimise growing conditions for multiple types of crops
grown within commercial greenhouses and other horticultural
environments.
Contract Electronics Manufacturing
UK Circuits is the Company's CEM focussed division, profit
making with strong revenues. The Group designs, procures, and
manufactures high-quality CEM products, specialising in Printed
Circuit Boards, which are used in a range of sectors including
audio, automotive, electronics, gas detection, lighting, pest
control, telecommunications and, more recently, the CEA market.
This information is provided by Reach, the non-regulatory press
release distribution service of RNS, part of the London Stock
Exchange. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NRAEASELELDDFFA
(END) Dow Jones Newswires
October 05, 2023 02:00 ET (06:00 GMT)
Light Science Technologies (LSE:LST)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Light Science Technologies (LSE:LST)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024
