Light Science Technologies Holdings PLC (AIM:LST) (LSTH), a leader in controlled environment agriculture technology and contract electronics manufacturing (CEA), has enlisted Richard Mills, via his agency Arkif Limited, to spearhead global partnerships.
The move aims to market the company’s NurturGROW lights, SensorGROW sensors and Tomtech control systems in regions less affected by high input costs, including North America, Australasia and specific Middle Eastern locations.
The total addressable market for grow lights alone is projected to exceed US$6.5 billion globally by 2026.
“We are delighted to bring Richard’s extensive experience of CEA into the team,” said LSTH chief executive Simon Deacon.
“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.”
Mills, former managing director of Haygrove Limited’s Growing Systems Division, brings a wealth of experience in international expansion and sustainable farming.
His previous role involved 80% revenue growth and a 300% profitability increase.
Arkif Limited, Mills’ agency, has a diverse client base, including those in solar, greenhouses and sustainable waste management, positioning it well to explore broader turnkey projects in sustainable farming.
