"Strong demand for innovative farming solutions and vertical farming in South Africa"

Light Science Technologies announces an exclusive distribution agreement with agricultural automation provider AgriLogiq Technical Systems, which will enable the company to market and sell its nurturGROW lights in South Africa.

LSTH and AgriLogiq management signing the agreement

Targeting a rapidly growing market
"Due to water shortages, poor soil for growing crops and harsh growing conditions, there is strong demand for innovative farming solutions - and especially vertical farming - in South Africa", says Non-Executive Director, Richard Mills. "This agreement, which is for an initial period of five years and with exclusivity subject to certain performance targets being met, is an important first step in the development of our global partnerships strategy. This strategy facilitates low-cost and low risk entry into expected high-growth markets with partners that are already embedded in the industry, enabling us to target global customer bases that are actively seeking CEA products and solutions. "

Significant opportunity for targeted global partnership strategy
Further distribution agreement arrangements are being developed in other strategic high-growth geographies, an initiative that is being led by management in conjunction with the assistance of Richard - whose expertise and contact base has led to a pipeline of new development opportunities. "We're focused on developing this strategy in the coming months and look forward to providing further updates in due course."

Simon Deacon, Chief Executive Office at LSTH commented: "We are delighted with this partnership, which is the first of many we look to implement globally. We believe there will continue to be a compelling backdrop for our solutions and look forward to targeting high-growth regions, especially where growers have been less impacted by high input costs and where demand is synergistic with our product base."

Joel van der Schyff, Managing Director at AgriLogiq commented: "We are excited to join forces with LST because their products excel in quality, modularity, and design, precisely aligning with our team's needs. Additionally, their exceptional service and agronomy support create a synergistic partnership, reassuring our customers that they're investing in the highest caliber product available for their greenhouses and growing operations. We look to a bright future, working closely with the LST staff to develop unique and innovative solutions for South Africa."