Business
New CEA Contract
New CEA Contract.
About this update from Light Science Technologies Holdings Plc
[{"type":"text","content":"\n\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) 596 / 2014 WHICH FORMS PART OF UNITED KINGDOM LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\nLight Science Technologies Holdings plc\n(\"LSTH\", \"Light Science\", the \"Company\" or the \"Group\")\n \nNew CEA Contract\n \nLight Science Technologies receives substantial nurturGROW order\n \nLight Science Technologies Holdings plc (AIM: LST), comprising three divisions: Controlled Environment Agriculture (\"CEA\"); Contract Electronics Manufacturing (\"CEM\"); and Passive Fire Protection (\"PFP\"), is pleased to announce that it has received an order from the Richel Group (\"Richel\"), an agronomic solutions specialist, for its CEA nurturGROW lighting, worth £123k. Delivery will commence in January 2025, with the revenues being recognised in the first half of 2025.\n \nLight Science Technologies will supply its nurturGROW lighting solution, customised to Richel's specifications, in an aeroponic glasshouse, being built over 0.5 hectares, in Germany. Leveraging the Company's bespoke solution to ensure the right light recipe for the growing environment, it will be used to grow a variety of leafy greens and is expected to become operational in Q1 2025.\n \nThe Company's nurturGROW offering provides a suite of glasshouse products that assists the cultivation of consistent, flavourful crops, with the potential for all year round growing. Set up is customisable, upgradable and reuseable, futureproofing installations and creating the right recipe for the customer's environment, maximising yields and reducing costs.\n \nThe CEA division delivered revenues of c. £500k in the eight months to 31 July 2024 and has a quoted pipeline of over £40m. Comprising Tomtech and Light Science Technologies, it provides control systems, grow lights, sensor technology, venting, and irrigation systems to support commercial growers.\n \nThe Richel Group has manufactured agricultural glasshouses for over 50 years and is a leader in their design, production and implementation, prizing performance and sustainable growing solutions. Its glasshouses cover more than 12,000 hectare...