AgTech - UK Parliamentary Group Calls for Action
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REACH: non-regulatory announcement*
Light Science Technologies Holdings plc
("LSTH", "Light Science", the "Company" or the "Group")
UK All Party Parliamentary Group Calls for Action on Food Production
Technology, innovation & smarter solutions required to ensure UK food security
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 release, and welcomes the recommendations, of the All Party Parliamentary Group, Science & Technology in Agriculture ("APPGSTA") report titled "Feeding Britain Sustainably to 2050: the 30:50:50 mission".
The APPGSTA encourages the UK Government to adopt a target of 30% greater agricultural output while halving the sector's environmental footprint by 2050. In doing so, it is recommended to develop a National Farm Data initiative, incentivise real-time data capture and AI-enabled decision-making tools, and perform a root-and-branch R&D review with a view to producing more food from less land, using less water and energy.
The report makes it clear that the US, EU, and OECD-FAO have already committed to driving innovation-led productivity growth and that the UK risks falling behind unless it embraces data-driven, technology-enabled agriculture, and creates strong policy momentum for business. In making its case, the APPGSTA notes that farming productivity growth has stalled due to fragmented support policies, over-precautionary regulation, and underuse of science. The result is a gap that must be closed between discovery science and farming practice.
LSTH's AgTech division offers a suite of tailored agricultural solutions that encompass real time data control systems, grow lights, sensor technology, venting, and irrigation, alongside AI technology, directly enabling progress towards the report's headline objectives. Supporting applications in indoor, vertical, glasshouse, hybrid polytunnel, and broadacre farming, its products are designed to increase crop yield and health with less input and smarter intervention.
Simon Deacon, CEO of LSTH, commented: "We are extremely pleased to see that a number of the recommendations in today's report align with the messages that we have been championing. It has been clear to many in the industry for some time that we need a smarter, modern approach to the way we farm if we are to ensure we have the food we need, and it is absolutely right that the UK treats food security as a statutory national priority.
"We are proud of the pioneering work we have already been doing in this sector and believe that we have the solutions to provide customers with the tools to combat growing threats to food production both in the UK and globally. Regulatory pressure will continue to grow around the world and LSTH is well positioned to help growers meet emerging challenges and support Government in driving effective change."
The full report is available here: https://www.appg-agscience.org.uk/group-news
For additional information please contact:
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Light Science Technologies Holdings plc Simon Deacon, Chief Executive Officer Jim Snooks, Chief Financial Officer Andrew Hempsall, Chief Operating Officer
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www.lightsciencetechnologiesholdings.com via Walbrook PR
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Shore Capital (Nominated Adviser and Broker) Tom Griffiths / George Payne
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+44 (0)20 7408 4050 |
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Walbrook PR Ltd (Media & Investor Relations) Nick Rome / Joe Walker |
Tel: +44 (0)20 7933 8780 or lst@walbrookpr.com |
Notes to Editors:
About Light Science Technologies Holdings plc (www.lightsciencetechnologiesholdings.com)
Light Science Technologies Holdings plc operates through three divisions: Passive fire protection ("PFP"); AgTech ("AGT") and contract electronics manufacturing ("CEM"). 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 LSTH IFB Limited ("LSTH IFB") in the PFP division; Light Science Technologies Ltd ("Light Science Technologies") and Tomtech (UK) Limited ("Tomtech") in the AGT division and UK Circuits and Electronics Solutions Limited ("UK Circuits") in the CEM division.
Passive Fire Protection (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 sensorGRO technology enables real-time monitoring of essential air zone growing factors such as carbon dioxide, air humidity, air pressure, air temperature and light, in addition to essential root zone cardinals such as soil temperature, soil moisture, and soil electroconductivity. Further developments to monitor greenhouse gases, initially Nitrous Oxide (N20) are in progress. 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/ . The nurturGRO 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 £9.1 billion** by 2030. Explore solutions here 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 to optimise and automate 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/
Contract Electronics Manufacturing (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 electronic 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.
* Estimators price cladding replacement at 10 times government budget (theconstructionindex.co.uk) 2021
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