Light Science Technologies says new board members will support growth in CEA; outlines 2024 plans
London, UK
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March 11, 2024 10:30 AM Eastern Daylight Time
Light Science Technologies Holdings PLC (AIM:LST) CEO Simon Deacon joins Proactive's Stephen Gunnion with more on the two recent appointees to the company's board, Dr Graham Cooley and Richard Mills.
Highlighting their substantial experience and potential contributions to the company, Deacon noted that Cooley brings over 35 years of experience, notably for pioneering hydrogen technology, aligning well with LSTH's focus on energy efficiency in agriculture. His role aims at navigating financial landscapes and chairing the board. Mills, with a background in agricultural infrastructure, is expected to leverage his global contacts and market entry strategies, enhancing LSTH's international reach and technology application in controlled environment agriculture (CEA).
Acknowledging the contributions of the outgoing chairman Myles Halley and board member Robert Naylor, Deacon emphasized the strengthened board's role in driving the company's next growth phase.
LSTH operates across three divisions: passive fire protection, contract electronics manufacturing, and CEA, each showing promising growth and market potential. The company boasts a significant forward order book, especially in passive fire protection, buoyed by new regulatory demands and government funding. The manufacturing division is expanding its market presence, including into sports hospitality, with a forward order book extending into 2025. The CEA division, pivotal for future growth, focuses on food security and sustainable agriculture, aiming to provide turnkey solutions and technology for indoor farming globally.
With over £80 billion in market opportunities, Deacon said LSHT is poised for a strong performance in 2024, driven by revenue growth, margin improvement, and new product development across its diversified divisions.
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