REG - Light Science Tech. - Business Update, Notice of Results & Investor Pres

Light Science Technologies HoldingsAnnouncement

30/04/2024 07:00

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RNS Number : 4641M  Light Science Tech. Holdings PLC  30 April 2024

 

Light Science Technologies Holdings plc

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

 

Business Update, Notice of Results & Investor Presentation

 

Light Science Technologies Holdings plc (AIM: LST), comprising three
divisions: controlled environment agriculture ("CEA"); contract electronics
manufacturing ("CEM") and passive fire protection ("PFP"), is pleased to
provide the following business update and notice of results (for the 12 months
to 30 November 2023).

 

 

Contract Electronics Manufacturing

Susan Johnson has been appointed Business Development Manager in the CEM
division for UK Circuits. Susan brings substantial experience in the
electronics industry and will lead business development, focusing on new
growing markets sectors, bringing new clients to the business, and servicing
the existing customer base.

 

Additionally, the first 100 units of UK Circuits' initial order for the sports
entertainment market segment, announced 8 February 2024, have now been
delivered; delivery of the remaining 4,900 units is expected in Q2 2024. The
Board believes that this venture holds significant potential for follow on
revenue in this new segment.

 

The CEM division's current forward order book remains strong at over £4
million, putting it on track when combined with orders already invoiced, to
meet internal sales expectations for H1 2024, and setting a solid foundation
for the second half of the year.

 

 

Controlled Environment Agriculture

 

The CEA division continues its strategy of integrating the products and
technologies of Tomtech and Light Science Technologies. Experienced industry
professional, Jonathan Barton, is leading the sale of products in the UK.
Globally, the division is continuing its work on setting up distributor
agreements.

 

The pipeline of quoted business currently stands at nearly £40 million in
this division.

 

 

Passive Fire Protection

The PFP division continues to roll out its project in Manchester and to
develop its strong pipeline of quoted work, now valued over £9 million, in a
UK market potentially worth up to £50 billion*. The Group's current contract
being implemented in Manchester is worth over £600,000 and is the first since
LSTH's acquisition of Injecta Fire Barrier trade and assets ("IFB").

 

 

Simon Deacon, Chief Executive Officer of LSTH, commented: "We are pleased to
see the continuation of the strong momentum that has been building in the
Group. I'm proud to note the initial delivery of units in our first ever sale
to the sports entertainment market in the CEM division, which I believe is a
strong indicator of the versatility that UKC boasts as we focus on increasing
margin and opening up new markets.

 

"As a Board, we are extremely excited by the prospects of our CEA division
after the acquisition of Tomtech last year, and as the world begins to
recognise and adapt to the challenges that threaten growing practices and food
security in the years to come.

 

"We believe we will see more growth in the market as food security around the
world is taken more seriously - driven particularly through extreme weather
pattens and a desire for healthier food production."

 

Notice of 2023 Results

 

The Company expects to announce its audited results for the year ended 30
November 2023, on Wednesday 8 May 2024.

 

Investor Presentation: 4:00pm, Wednesday 8 May

 

Management will be providing a presentation and hosting an investor Q&A
session on the Company's 2023 results and future prospects, on Wednesday 8 May
at 4:00pm (BST). Investors can sign up for free and register to meet LSTH via
the following link:
https://www.investormeetcompany.com/light-science-technologies-holdings-plc/register-investor
(https://www.investormeetcompany.com/light-science-technologies-holdings-plc/register-investor)

 

Investors who have already registered on the Investor Meet Company platform to
meet the Company, will automatically be invited.

 

Questions can be submitted pre-event via the platform, or by emailing
lst@walbrookpr.com, or in real time during the presentation via the "Ask a
Question" function.

 

* 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

 

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 / Paul McManus

 

 

 

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:
controlled environment agriculture ("CEA"); 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 CEA division; UK
Circuits and Electronics Solutions Limited ("UK Circuits") in the CEM
division; and LSTH IFB Limited ("LSTH IFB") in the PFP division.

 

Controlled Environment Agriculture

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
medicinal 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. In development, it aims to extend monitoring to soil
temperature, soil moisture, and soil electroconductivity. 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 medicinal plants, addresses a robust market with an
anticipated global worth exceeding US$6.5 billion by 2026. 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 specialization in Printed Circuit Boards. These products
find application across diverse sectors such as audio, automotive,
electronics, gas detection, lighting, pest control, telecommunications, and,
more recently, in the CEA market.

 

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 £5.1 billion allocation from the UK government. Serving as the
UK's premier independent approved installer, LSTH IFB utilizes 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.

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