RCS - Light Science Tech. - PFP Division – UK Dangerous Cladding Report

Light Science Technologies HoldingsAnnouncement

24/03/2025 07:00

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RNS Number : 8061B  Light Science Tech. Holdings PLC  24 March 2025

REACH

Light Science Technologies Holdings plc

("LSTH", "Light Science", the "Company" or the "Group")

 

PFP Division - UK "Remediation of Dangerous Cladding" Report

 

Light Science Technologies Holdings plc (AIM: LST), the innovative technology
and manufacturing business providing real-world solutions targeting issues
including global food security and fire safety, notes the UK Committee of
Public Accounts report on the remediation of dangerous cladding, published on
Friday 21 March 2025, and reiterates its belief that the Injectaclad solution
installed by LSTH IFB Ltd (Injecta Fire Barrier), offers the most practical,
cost-effective and least invasive solution to rectifying non-compliant public
and private buildings in the UK, requiring cavity remediation.

 

The report highlights severe delays, with work yet to start on half of
identified buildings, increasing financial burdens on residents, a lack of
skilled engineers, and a large increase in the expected scope of works.
Initially estimated as a £600 million effort for 450 buildings, estimates
have expanded to cover 9,000-12,000 medium and high-rise buildings, with
projected costs between £12.6 billion and £22.4 billion.

 

The Injectaclad solution offers several key benefits to alternative methods,
which typically require the removal of an entire brick or rendered façade,
and addresses many of the difficulties highlighted in the report whilst
facilitating lower risk mitigations under the PAS 9980 guidance for risk-based
assessments of external walls. Firstly, it is a far more cost-effective
solution with a typical project quote being c.3x lower than the alternative of
façade removal. Installation is within the internal cavity so reduces
disruption for residents and overall project length significantly, while
capacity is fast to ramp up, with a large pool of UK fire safety accredited
installers available.

 

Since it was acquired in November 2023, Injecta Fire Barrier has worked on 11
buildings, taken orders totalling £2.7million, and has built a quoted
pipeline of live projects with a combined value of £16.5 million. This should
see the conversion of the strong quoted pipeline at a faster rate now the
Building Safety Regulator has committed to clearing a backlog on 122 Gateway 2
projects by the end of April 2025.

 

The "Remediation of Dangerous Cladding" report can be downloaded by following
the link below. This is a House of Commons committee report, which makes
recommendations to the UK government. The Government has two months to
respond.
https://publications.parliament.uk/pa/cm5901/cmselect/cmpubacc/362/report.html
(https://publications.parliament.uk/pa/cm5901/cmselect/cmpubacc/362/report.html)

 

Commenting on the report, Simon Deacon, Chief Executive Officer of LSTH, said:

 

"This report clearly highlights the slow progress on vital remediation work in
the UK. In addition to that, public consensus is that the 2029 target for
completing works is an unacceptably long time for this work to go undone. A
stark reminder of this danger came only last August with the Dagenham fire.

 

"We have a compelling solution that meets new safety standards, saves money,
is far faster to implement, causes significantly less disruption, and is quick
to scale. Wider adoption of Injectaclad ultimately means that homes and places
of work will be safer; both at a faster rate and with less financial burden."

 

For additional information please contact:

 

 Light Science Technologies Holdings plc                                     www.lightsciencetechnologiesholdings.com

                                                                           (http://www.lightsciencetechnologiesholdings.com/)

 Simon Deacon, Chief Executive Officer                                       via Walbrook PR

 Jim Snooks, Chief Financial Officer

 Andrew Hempsall, Chief Operating Officer

 Strand Hanson Limited (Nominated & Financial Adviser) Ritchie Balmer /      Tel: +44 (0) 20 7409 3494
 James Harris / Rob Patrick

 Oberon Capital (Broker)                                                     Tel: +44 (0) 203 179 5300

 Mike Seabrook / Nick Lovering

 Walbrook PR Ltd (Media & Investor Relations)                                Tel: +44 (0)20 7933 8780 or lst@walbrookpr.com (mailto:lst@walbrookpr.com)
 Nick Rome / Joe Walker

 

Notes to Editors:

 

About Light Science Technologies Holdings
plc (www.lightsciencetechnologiesholdings.com
(http://www.lightsciencetechnologiesholdings.com/) )

Light Science Technologies Holdings plc operates through three divisions:
AgTech ("AGT"); contract electronics manufacturing ("CEM"); and passive fire
protection ("PFP"). The company is involved in the design, manufacturing, and
installation of products and customized solutions spanning various industry
sectors, including commercial horticulture, pest control, lighting, audio, gas
detection, and fire protection. With a focus on addressing global challenges
related to food security, climate change, and fire protection, the Group is
committed to developing robust solutions in these rapidly growing market
sectors.

 

LSTH is the holding company for Light Science Technologies Ltd ("Light Science
Technologies") and Tomtech (UK) Limited ("Tomtech") in the AGT division; UK
Circuits and Electronics Solutions Limited ("UK Circuits") in the CEM
division; and LSTH IFB Limited ("LSTH IFB") in the PFP division.

 

Passive Fire Protection (https://injectafirebarrier.com/
(https://injectafirebarrier.com/) )

 

LSTH IFB offers a practical and cost-effective solution to rectify
non-compliant public and private buildings, spanning residential, commercial,
and industrial sectors, with regard to fire safety regulations - a challenge
addressed by a £6.1 billion allocation from the UK government. Serving as the
UK's premier independent approved installer, LSTH IFB utilises the
ground-breaking Injectaclad fire-resistant graphite barrier system. This
system is retroactively installed within building cavities, reinstating
fire-resistant performance and containing the spread of fire and smoke
compliant with regulatory requirements. This innovative solution stands out as
an appealing alternative to the more costly and disruptive method of removing
external facades and installing traditional fire barriers. With a proven track
record in the passive fire protection market and a robust sales pipeline, LSTH
IFB targets a UK market potentially valued at up to £50 billion**.

 

AgTech

The Group's tailored solutions encompass control systems, grow lights, sensor
technology, venting, and irrigation systems, catering to both UK and global
customers. Key markets include indoor, vertical, glasshouses, polytunnels, and
more recently wider applications in broadacre farming. Driving factors
comprise global food and water shortages, a growing population, government
policies promoting sustainable growth methods, heightened scrutiny of food
production's impact on climate change, and a shift away from processed foods.
Key markets span the Americas, Australasia, and select locations in the Middle
East.

 

The sensorGROW technology enables real-time monitoring of essential air zone
growing factors such as carbon dioxide, air humidity, air pressure, air
temperature, and light. With development almost complete, it aims to extend
monitoring to soil temperature, soil moisture, and soil electroconductivity,
with further developments to monitor greenhouse gases, initially Nitrous Oxide
(N20). This empowers farmers to enhance resource management, saving costs on
water, nutrients, fertilizers, and energy, while simultaneously increasing
yields and cultivating healthier crops. Learn more
here https://lightsciencetech.com/sensorgrow/
(https://lightsciencetech.com/sensorgrow/)  . The nurturGROW sustainable grow
lighting product range, applicable to greenhouses, vertical farming,
polytunnels, and licensed medicinal plants, addresses a robust market with an
anticipated global worth of £9.6 billion* by 2030. Explore solutions
here https://lightsciencetech.com/solutions/greenhouse/
(https://lightsciencetech.com/solutions/greenhouse/)

 

Through Tomtech, the Group stands out as a UK leader in control systems for
commercial greenhouses and polytunnels. Tomtech enables growers in optimizing
and automating cultivation environments, leading to superior crop growth. The
product range includes control systems, software, irrigation, lighting,
sensors, and venting, applicable across various crops, ultimately improving
yields and profitability. Discover more here https://www.tomtech.co.uk/
(https://www.tomtech.co.uk/)

 

Contract Electronics Manufacturing (https://www.ukcircuits.co.uk/
(https://www.ukcircuits.co.uk/) )

 

UK Circuits serves as the Group's profitable and revenue-strong CEM-focused
division. It excels in designing, procuring, and manufacturing high-quality
CEM products, with a specialisation in Printed Circuit Boards. These products
find application across diverse sectors such as audio, automotive,
electronics, gas detection, lighting, pest control, telecommunications, and
AgTech.

 

*Report: Allied Market Research LED Grow Lights Market Analysis 2030;
(https://www.alliedmarketresearch.com/led-grow-lights-market-A12416): USD
$12.3 billion by 2030 converted at GBP £1 = USD $1.28.
(https://www.alliedmarketresearch.com/led-grow-lights-market-A12416)

** Estimators price cladding replacement at 10 times government budget
(theconstructionindex.co.uk)
(https://urldefense.proofpoint.com/v2/url?u=https-3A__www.theconstructionindex.co.uk_news_view_estimators-2Dprice-2Dcladding-2Dreplacement-2Dat-2D10-2Dtimes-2Dgovernment-2Dbudget&d=DwMGaQ&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=k3ztxpiL9GaLwCCGU9fPymgPVcqvYBuqTjjYyTHwiDE&m=FkrfCU8L8JbNSpJy2iOqi_ufsIhPkBWqki20NIFJFw75Xk8uHWT1vpic2OJY0ioQ&s=PR1_EBbDTB9ZM08WpCO_9ThUQ0hELxP6lsaT57zpanA&e=)
 2021

 

 

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