Light Science Technologies Holdings has announced its flotation on the London Stock Exchange, as the group sets out its growth plans for the CEA market over the next few years.
The company has raised £5 million to strengthen its position in the indoor agritech sensor and lighting industry while increasing the manufacturing capacity of its contract electronics manufacturing (CEM) division. The grow lights market alone has a global estimated market value of £20.5 billion and is growing at 21%.
LSTH, incorporated in January 2020, is the holding company of the Group’s CEA division, Light Science Technologies (LST), and its CEM division, UK Circuits and Electronics Solutions Limited (UK Circuits).
LST was founded in September 2019 and facilitates the company’s CEA operations. Its laboratory facilities in Derby enable the design, testing, and provision of CEA products and services, most recently showcased through the launch of nurturGROW, its sustainable LED grow lighting range.
Simon Deacon, CEO of Light Science Technologies Holdings, commented: “This IPO enables us to capitalize on the large market opportunities presented to us. We look forward to supporting the revolution in modern agriculture, sustainably helping growers grow more for less.”