Light Science lays out plans for £0.5m Innovate UK grant

15th Feb 2022 14:46

(Sharecast News) - Agriculture technology and contract electronics manufacturer Light Science updated the market on a £0.5m government grant to its controlled environment agriculture (CEA) division.

The AIM-traded firm said the grant was awarded by Innovate UK as part of its 'Farming Initiative Pathway' (FIP) consortium for more sustainable and efficient plant growth in the UK agricultural sector, to develop its intelligent LED grow-lighting cloche product.

It said the grow-lighting cloche was expected to be the first retrofittable lighting-sensing automation rig designed for polytunnels and glasshouses.

The grow-light cloche would extend the growing season, enabling farmers to grow year-round, as well as a wider variety of produce.

Light Science said the cloche would extend its existing product range into new and larger markets.

The solution was being developed as part of the previously-announced contract and consortium between Light Science, Zenith Nurseries and Morrish Engineering, which began in November with a potential value of up to £13.84m.

It said the project was being broken into four stages to prototype, develop and commercialise the offering over an estimated 21-month period.

Once the prototype was complete, it would be tested within Zenith Nurseries' existing growing site over six months, to validate the data.

Following development, the grow-lighting cloche had the potential to generate both significant one-off hardware revenues and recurring revenues from growers, lasting up to 25 years through the deployment of data, upgrades, replacements, data analysis and in future artificial intelligence (AI).

Light Science also announced two new appointments to its CEA team, with Chuanching Foo joining as senior scientist, where she would take on full responsibility for the running and management of the division's onsite lab facilities, where new crop testing was carried out.

Foo would also be supporting the company's ongoing efforts to improve the quality, flavour, and freshness of produce for CEA growers and farmers in polytunnel, glasshouse and vertical farming.

Additionally, Chris Shenton was joining as national account manager, bringing 15 years of experience in "some of the largest global lighting manufacturers" to focus on supporting existing customers, as well as expanding Light Science's client portfolio through the development of new opportunities.

"Due to the shorter growing seasons, unpredictable climatic conditions and heavy reliance on manual labour processes, the UK struggles to produce enough food to meet demand," said chief executive officer Simon Deacon.

"We are delighted to have been selected for funding by Innovate UK, which is testament to the potential value of the cloche product in alleviating both these national issues and extending our routes to market.

"We look forward to keeping the market informed with developments as the company capitalises on its growing number of routes to market."

Deacon added that the new appointments further strengthened the firm's strategic objectives in indoor farming, and would help build on its current momentum.

"With their expertise, they will both help to develop and bring to market our award-winning technology to revolutionise agriculture and indoor growing."

At 1304 GMT, shares in Light Science Technologies Holdings were down 2.35% at 14.62p.