Light Science Technologies secures £460,000 contract

(Sharecast News) - AIM-listed Light Science Technologies said on Monday that it has secured a £460,000 contract for the design, supply, installation, and commissioning of a modular vertical farming system at the new Nottingham Trent University (NTU) Smart Agricultural Research Centre.

The contract has an additional three-year maintenance package valued at £10,800 per year.

Light Science said the new system will provide NTU with a "world-class" research platform to support a diverse range of academic and commercial projects in controlled environment agriculture (CEA), with an emphasis on "flexibility, modularity, and precision environmental control".

The project will be led by LSTH's AgTech division.

Manufacture of the core components will be undertaken by UK Circuits and Electronics Solutions Limited, the group's contract electronics manufacturing (CEM) division.

Chief executive Simon Deacon said: "We are delighted with this latest contract award, which was part of a competitive tender. We have developed a strong ecosystem within the group, and the nature and size of this contract highlight the benefits of being able to deliver scale through our complementary divisions.

"We are constantly looking at opportunities to cross-sell and deliver ongoing services to existing and new clients, and the fact that this contract utilises different parts of the group is testament to the structure we have in place. The increasing levels of pipeline conversion and revenue visibility underpin the board's confidence in further driving shareholder value."