BSR Strategic Plan: Positive Implications for PFP
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REACH: non-regulatory announcement*
Light Science Technologies Holdings plc
("LSTH", "Light Science", the "Company" or the "Group")
BSR Strategic Plan: Positive Implications for PFP Backlog
Light Science Technologies Holdings plc (AIM: LST), the controlled environment agriculture and passive fire protection group, notes the recent publication of the UK Government's Building Safety Regulator ("BSR") Strategic Plan ("Plan") for 2026-2027, which highlights the need to cut delays and expediate cladding remediation schemes.
The Plan, which can be viewed in full here: Building Safety Regulator strategic plan 2026 to 2027 - GOV.UK sets out an ambition to deliver decisions on a significant proportion of remediation applications within a 12-week timeframe (for non-complex cases), alongside measures to improve application quality, increase transparency, and streamline engagement with industry participants. Notably, the regulator has also stated 'building control approval will no longer be a blocker to fixing homes'.
The Company welcomes the BSR's clear acknowledgement of current delays within the building safety approvals process and its stated commitment to improving throughput and reducing bottlenecks.
Implications for LST's Passive Fire Protection Division
As previously highlighted by the Company, its Passive Fire Protection ("PFP") division, which specialises in fire remediation solutions including the patented Injectaclad cavity fire barrier remediation system, has experienced delays in project mobilisation due to extended BSR approval timelines. This has contributed to a build-up of a substantial pipeline of contracted and near-term projects awaiting regulatory sign-off.
Simon Deacon, Chief Executive Officer of Light Science Technologies Holdings plc, commented: "The Board believes that the measures highlighted in this plan represent a positive step towards unlocking the BSR backlog. In particular, the introduction of clearer timelines, improved regulator-industry coordination, and a stated commitment to removing approval bottlenecks will help to support the conversion of the Company's existing project backlog into active revenue-generating contracts.
"While the implementation of these measures may take time and that some complexity will remain in the approvals process, we believe that the plan represents a meaningful step towards improving market conditions for the Company's PFP division.
"Accordingly, the Board is increasingly confident in the medium-term outlook for the division, with potential for improved backlog conversion and enhanced revenue visibility as regulatory processes become more efficient."
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) Stephane Auton / George Payne
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+44 (0)20 7408 4050 |
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Walbrook PR Ltd (Media & Investor Relations) Nick Rome / Marcus Ulker |
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 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 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 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 £9.1 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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