UK and European Distribution Agreement
Light Science Technologies Holdings plc
("LSTH", "Light Science", the "Company" or the "Group")
UK and European Distribution Agreement
Partnership to distribute market leading CEA lighting solutions
Light Science Technologies Holdings plc (AIM: LST), comprising three divisions: Controlled Environment Agriculture ("CEA"); Contract Electronics Manufacturing ("CEM"); and Passive Fire Protection ("PFP"), announces a distribution framework agreement with Gavita International B.V. ("Gavita"). The agreement enables the Group to distribute lighting products developed by Gavita's subsidiary Agrolux Nederland B.V. ("Agrolux"), a global supplier of horticulture lighting solutions.
Global reach and strengthened offering
The Company has agreed an extendable deal, initially for 2025, that will give the Group exclusive access to sell Agrolux's LED Lighting system into the UK and Irish markets under the 'Agrolux presented by Light Science' banner, with the opportunity to deliver projects in other European regions in the future. It is intended that as the relationship develops, Agrolux will be licensed to reciprocally sell Light Science's products via its global network, enabling global delivery and implementation of holistic lighting, sensor and control solutions, tailored to the grower's needs.
The initial relationship, focusing on the UK and Ireland presents the Group with the opportunity to utilise its resource and expertise and existing relationships to sell Agrolux's patented LED Wega product range, complementing its own nurturGROW sustainable grow lighting product range. Additionally, there is scope for the Group to package these products alongside its sensor and installation capabilities.
Expanded target market
The partnership's combined product offering will result in additional reach across the UK and in Europe (including Ireland), with current quoted pipeline opportunities totaling £4.6m and £5.7m, respectively, for provision of lighting systems to glass houses, increasing the Group's overall quoted CEA pipeline to £42.5m. The Group will seek to convert this pipeline by leveraging Agrolux's agronomy expertise and 20+ years' experience.
Agrolux
Agrolux, headquartered in Maasdijk, Netherlands, is a part of Gavita International B.V, whose ultimate parent company is Scotts Miracle-Gro, which is the world leader in lawn and garden products. Scotts, founded in 1868, is a constituent of the S&P 400 with a current market cap of $3.9bn.
Agrolux's patented LED Wega fixture is one of the most compact and energy efficient LED lighting systems on the market, which also incorporates a unique powerline dimming solution, minimising lighting control infrastructure.
Capital Markets Day
As previously announced, the Company will be hosting a Capital Markets Day in the City of London for analysts and institutional investors across the morning of Wednesday, 26 February 2025 from 08.30.
Please contact lst@walbrookpr.com in order to register interest and receive further information.
Simon Deacon, CEO of LSTH commented: "We are delighted to have established this distribution agreement with such a prestigious partner that is part of the Scotts Miracle-Gro group. The opportunity to work with Argolux and provide an expanded product range to existing and new clients provides an exciting opportunity for us to target a wider end audience. This partnership presents significant potential future benefits for us to expand our global presence and reach as we work on complementary opportunities.
"We are focused on low-cost and low-risk entry into high-growth markets with partners that are already embedded in the industry, enabling us to target global customer bases that are actively seeking CEA products and solutions - and with Agrolux being part of a multinational global entity, we are extremely excited by the opportunities this relationship presents.
Manuel Oomen, Managing Director at Gavita International commented: "Gavita International is very pleased to announce this co-operation. LST's knowledge of the market and existing CEA technology products and services together with Agrolux's greenhouse lighting systems means we can offer customers in the UK & Eire the best lighting solutions."
For additional information please contact:
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Light Science Technologies Holdings plc
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Simon Deacon, Chief Executive Officer Jim Snooks, Chief Financial Officer Andrew Hempsall, Chief Operating Officer |
via Walbrook PR |
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Strand Hanson Limited (Nominated & Financial Adviser) Ritchie Balmer / James Harris / Rob Patrick |
Tel: +44 (0) 20 7409 3494 |
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Oberon Capital (Broker) Mike Seabrook / Nick Lovering |
Tel: +44 (0) 203 179 5300 |
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Walbrook PR Ltd (Media & Investor Relations) |
Tel: +44 (0)20 7933 8780 or lst@walbrookpr.com |
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Nick Rome / Joe Walker |
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Notes to Editors:
About Gavita
Gavita is the largest specialized horticultural lighting company in the world; active on all five continents with projects ranging from single fixtures to large greenhouses with well over 100,000 fixtures, serving the retail, research and professional horticultural market.
About Agrolux B.V (https://agrolux.com/about-us/)
Agrolux uses intelligent, innovative solutions to help maximize the efficiency of horticulture lighting and increase production for growers. It offers tailored solutions that are delivered through its global network. Its product range encompasses a comprehensive selection of LED and HPS lighting fixtures.
About Light Science Technologies Holdings plc (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/ . 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/
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/
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 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/)
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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