Expansion of CEA Division’s Global Reach

Light Science Technologies Holdings plc (AIM: LST), the controlled environment agriculture ("CEA") technology and contract electronics manufacturing ("CEM") group, announces that it has appointed Richard Mills as an external consultant via his agency Arkif Limited ("Arkif"), to scope and implement global partnerships to sell the Group's NurturGROW lights, SensorGROW sensors and Tomtech control systems.

The Group is focused on expanding internationally - and global partnerships will provide a low cost entry point while enabling LSTH to diversify its reach of full turn key solutions into regions where growers have been less impacted by high input costs. Initial scoping has been completed and the regions of North America, Australasia and specific locations in the Middle East have been identified for partnership building with businesses that are synergistic with the Group's product range. For grow lights alone, the Group's total addressable market is experiencing strong compound annual growth and is expected to be worth in excess of US$6.5 billion, globally, by 2026*.

Arkif has a range of clients covering solar, greenhouses, sustainable waste management as well as investors and it is targeting opportunities that could include participation in a broader turnkey project for sustainable farming.

Richard spent five years as Managing Director of Haygrove Limited's Growing Systems Division, where he was the international leader of its polytunnel and growing systems business with £70m annual revenues and 200+ staff.

This role included commercial international expansion of the business into new territories though a group of eight companies as well as developing a marketing strategy to move the business into the higher technology sector of greenhouse technology applied at field scale.

Richard's global CEA experience includes expanding Haygrove into new markets, from conceptualisation, through planning and implementation, rolling new businesses out in China, Germany and India. His tenure saw an 80% growth in revenues and 300% improvement in profitability.

Simon Deacon, Chief Executive Officer of LSTH, commented: "We are delighted to bring Richard's extensive experience of CEA into the team. Whilst the UK and European CEA Markets are struggling due to high input costs, there are Global regions with challenging climatic conditions that are not as heavily impacted by these high input costs, where CEA is currently flourishing. We believe that our products will provide value in these markets and look forward to working with Richard to develop and monetise these opportunities."

*SOURCE: Mordor Intelligence

Nick Rome / Paul McManus

About Light Science Technologies Holdings plc (www.lightsciencetechnologiesholdings.com)

Controlled Environment Agriculture

sensorGROW

nurturGROW

Tomtech

Contract Electronics Manufacturing