Light Science Technologies Holdings CEO Simon Deacon talked with Proactive's Stephen Gunnion about the company's new partnership with Agrolux, a major global provider of horticultural lighting.
Agrolux is part of ScottsMiracle-Gro, which has a market capitalization of nearly £4 billion. Deacon explained that this collaboration allows Light Science Technologies to provide a comprehensive solution, integrating sensor technology, lighting, and digital platforms to a global customer base.
The deal strengthens the company's competitive position against larger industry players. He also discussed the company's quoted pipeline, highlighting £4.6 million in opportunities for the UK and Ireland and an additional £5.7 million in Europe, totaling £10.3 million.
These projects are expected to close in 2025 and 2026. Regarding broader company performance, Deacon reported a 29% revenue increase for 2024 and an improvement in gross margin from 23% to 28%.
He emphasized the growing contribution of the Controlled Environment Agriculture (CEA) and Passive Fire Protection divisions, leading to a profitable second half of the previous financial year.
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