REG - Light Science Tech. - Additional sensorGROW trials and nurturGROW update

Light Science Technologies HoldingsAnnouncement

08/11/2022 07:00

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RNS Number : 5993F  Light Science Tech. Holdings PLC  08 November 2022

Light Science Technologies Holdings plc

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

 

Additional sensorGROW trials and nurturGROW update

 

·    Additional trials secured for sensorGROW with potential roll-on
subscriptions worth up to £167,000, over a three-year period

·    PCT patent filed with Intellectual Property Office for nurturGROW
tuneable luminaire

 

sensorGROW trials

Light Science Technologies Holdings plc (AIM: LST), the controlled environment
agriculture ("CEA") technology and contract electronics manufacturing ("CEM")
group, is pleased to announce that it has signed two further trial contracts
for its recently launched sensorGROW product.

 

If successful, the trial contracts, which include one with a leading UK
manufacturer of preserves, marmalades and associated products, could roll into
subscriptions and be worth up to £167,000 in recurring revenues over a three
year period. These trials are in addition to the ones announced on 22
September 2022, which are potentially worth up to £940,000.

 

The Group remains in talks with a variety of other growers regarding
sensorGROW trials.

 

PCT Patent filed with Intellectual Property Office for nurturGROW tuneable
luminaire

The CEA division has filed a PCT patent with the Intellectual Property Office
for its nurturGROW 'tuneable' luminaire, featuring its pioneering LED grow
lighting technology.

 

This allows any CEA grower the means to adjust both the lighting output to
optimise energy costs and also adjust and precisely tune the light emission
spectrums to suit a crop's growth cycle which in turn allows the grower to
choose the light recipe for a variety of crops. This level of control is
achievable at the touch of a button through nine independently controlled
circuits within its patented modular luminaire.

 

Ideal for vertical farms and other multi-layer growth applications, the
luminaire's slimline design is specifically suited for use in a closed,
climate controlled growing facility and can maximise space, thanks to its
lower profile and bespoke length.

 

Simon Deacon, CEO and founder of Light Science Technologies, said: "The
Company remains focused on growing recurring revenues by providing technology,
data collection, advisory and maintenance services for clients. We have a
strong and growing product range that is aimed at broadening routes to market
and strengthening cross-selling opportunities. We very much look forward to
providing further updates in due course as we build on recent momentum."

 

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK domestic
law by virtue of the European Union (Withdrawal) Act 2018 (as amended).

 

For further 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)      Tel: +44 (0) 20 7409 3494

 Ritchie Balmer / James Harris / Rob Patrick
 Turner Pope Investments (TPI) Ltd (Broker)                 Tel: +44 (0) 20 3657 0050
 James Pope / Andy Thacker

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

 Nick Rome / Paul McManus

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

Light Science Technologies Holdings plc is the holding company of the Group's
controlled environment agriculture ("CEA") division, Light Science
Technologies Ltd ("Light Science Technologies"), and 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.

 

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.

 

 

 

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.

 

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