PFP Market Update
Light Science Technologies Holdings plc (LSTH) is experiencing increased procurement activity in the UK building remediation market, evidenced by Efficiency East Midlands' launch of a £800 million framework for fire safety and building remediation works, with up to £584 million allocated to fire safety and remediation. This framework, covering external wall, facade, cladding remediation, and cavity barriers, is available to public sector organisations and aligns with LSTH's passive fire protection strategy, particularly its Injectaclad system. The company also notes improving regulatory throughput, which, combined with increased procurement, is expected to support project progression and the conversion of its existing sales pipeline.
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Passive Fire Protection Market Update
Increasing procurement activity supports PFP growth strategy
Light Science Technologies Holdings plc (AIM: LST), the innovative technology and manufacturing business providing real-world solutions targeting issues including global food security and fire safety, provides an update on the Passive Fire Protection ("PFP") market, as procurement activity provides further evidence of momentum in the UK building remediation market.
The Company notes the recent launch by Efficiency East Midlands ("EEM"), a public sector procurement consortium, of a new four-year Fire Safety, Fire Doors and Building Remediation framework with an estimated total value of up to £800 million, of which up to £584m specifically covers Fire Safety and Building Remediation Works.
The scope of these lots includes external wall, facade and cladding remediation and cavity barriers. The framework will be available to publicly funded organisations, including housing associations, local authorities, NHS bodies, emergency services, schools and universities.
The Company believes the launch of these substantial new procurement opportunities provides further evidence of increasing activity within the UK building remediation market. The scope of the relevant lots is closely aligned with LST's PFP strategy, centred on its proprietary Injectaclad cavity fire barrier system and national network of quality-approved installation teams.
The Company is also seeing encouraging signs of progress in the processing of BSR approvals across the building remediation market, including projects relevant to the Company's PFP pipeline. Management believes that improving regulatory throughput, together with increasing procurement activity, should support the progression of remediation projects and conversion of the PFP division's existing sales pipeline.
Simon Deacon, Chief Executive Officer of LSTH, commented:
"We are seeing encouraging signs that the UK building remediation market is gaining momentum. The scale of these new public sector procurement opportunities, alongside improving regulatory throughput, gives us increasing confidence in the outlook for the sector.
"Through Injectaclad and our national network of quality-approved installers, we are well positioned to benefit as projects move through the regulatory and procurement process. We believe these developments should help unlock projects across the market and support conversion of our growing PFP pipeline."
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