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Highlights:
Light Science Technologies Holdings PLC has secured a £1.17 million contract for passive fire protection services, highlighting its expanding role in enhancing fire safety in residential buildings.
The company received a £537,000 order in its Contract Electronics Manufacturing (CEM) division, bringing the total ordered units from a sports entertainment client to 20,000, showcasing ongoing demand in this sector.
CEO Simon Deacon emphasizes the strength of the CEM division and the potential for future growth, driven by increased reshoring of manufacturing to the UK amid global uncertainties.
Light Science Technologies Holdings PLC (LSE:LST) is dedicated to providing innovative lighting and plant monitoring solutions aimed at enhancing agricultural productivity while minimizing resource use. The company has forged partnerships with leading university research teams since 2019, aiming to develop optimal growing solutions for diverse environments, including vertical farms, containers, polytunnels, and greenhouses. Its patent-pending nurturGROW luminaire and sensor products are designed to deliver sustainable long-term benefits to growers by improving cost efficiency and yield.
Recent developments highlight the company’s ongoing success. As of October 21, 2024, Light Science Technologies has secured a £1.17 million order for passive fire protection services from a Manchester-based construction firm. This contract involves implementing fire safety upgrades for two residential tower blocks and follows the successful completion of a previous £520,000 project with the same client. The company’s Passive Fire Protection division targets safety upgrades for buildings, positioning it well for repeat business with clients managing extensive property portfolios.
In addition, Light Science Technologies has made strides in its Contract Electronics Manufacturing (CEM) division. The company received a £537,000 order from a sports entertainment customer, marking the fourth order since the relationship began. This new order increases the total number of ordered units to 20,000, with deliveries planned for October and November. CEO Simon Deacon has expressed confidence in the CEM division as a robust revenue driver, particularly as manufacturing reshoring increases in response to global uncertainties.
Light Science Technologies Holdings PLC demonstrates a strong commitment to innovation and market responsiveness, positioning itself for continued growth and profitability in its various business segments.
