Official Launch of sensorGROW
Light Science Technologies Holdings plc
("LSTH", the "Company" or the "Group")
Official Launch of sensorGROW
Light Science Technologies Holdings plc (AIM: LST), the controlled environment agriculture ("CEA") technology and contract electronics manufacturing ("CEM") group, announces the official launch of its sensorGROW product, which provides clients with real time and historical data of their growing environment, at GreenTech 2022, RAI Amsterdam.
The technology enables farmers to monitor the following key growing factors (which are known as the nine cardinals of plant life) in real-time: air speed, carbon dioxide levels, humidity, light, oxygen, plant disease, soil, temperature and water pH levels - with possible benefits including reductions in water usage, nutrients, fertilisers and energy while increasing yields and producing healthier crops.
Once collected, the data gathered by sensorGROW is relayed to Light Science Technologies' software application, where the grower can observe, in detail, the environment in which their crops grow and make adjustments as required.
By providing access to large volumes of real world farming data, the Group aims to further increase the accuracy and precision of its full service CEA offering. Importantly, the sensor offering will operate on a subscription basis, further enhancing the Company's recurring revenue model. The Company has already signed up a number of beta testers, which it is aiming to sign up on three-year contracts as it targets a CEA market estimated to be worth £20.5 billion with a projected CAGR of 21.1% by 2025. Management remains focused on delivering on is sales pipeline of quoted work, which currently stands at over £60 million.
For further information please view this video, detailing sensorGROW's capabilities: (13) Light Science Technologies | SensorGROW - YouTube
Simon Deacon, CEO and founder of Light Science Technologies, said : "Over time, sensorGROW's analysis of the growing environment is expected to enable customers to have knowledge of their crops' health far in advance of when would be humanly possible through traditional observation. Actionable growing intelligence has numerous benefits to customers, allowing them to reduce food waste, decrease energy and increase yield.
"We are extremely excited by the potential of our rounded offering and believe our capability to provide real time data and solutions for clients sets us apart. We believe that our game-changing proposition will help shake up the food system and transform the way we produce fresh produce."
For further information, please contact:
|
Light Science Technologies Holdings plc
|
|
|
Simon Deacon, Chief Executive Officer Jim Snooks, Chief Financial Officer Andrew Hempsall, Chief Operating Officer |
via Walbrook PR |
|
|
|
|
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 |
|
Nick Rome / Paul McManus |
|
About Light Science Technologies Holdings plc ( 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.
Contract Electronics Manufacturing
UK Circuits is the Company's CEM focussed division, with strong revenue and cash generation. 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.
Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 17 minutes ago Prudential
- 29 minutes ago Vanquis Banking Group 20
- 2 hours ago Frasers Group
- 2 hours ago Cavendish Financial
- 2 hours ago Diaceutics