Light Science Technologies Holdings PLC (AIM:LST) (AIM: LST) announced a new contract worth over £750,000 with a leading construction company for its passive fire protection division, LSTH IFB Limited.
It will install the Injectaclad cavity sealant in an 11-storey student accommodation block in Nottingham.
An eight-person team will handle the installation, which involves drilling access holes through structural insulated timber panels and installing Injectaclad at each floor level.
The project has begun and is expected to be completed by December, with revenues recognised in the second half of the current financial year.
Since acquiring Injecta Fire Barrier’s trade and assets in November last year, LSTH IFB has positioned itself to capitalise on the UK’s growing fire safety retrofit market, potentially valued at up to £50 billion.
This new contract follows a £600,000 deal won in November, which is now over 50% complete and due for completion in the second half of the financial year. The company’s passive fire protection sales pipeline currently exceeds £10 million.
In the same announcement, Light Science Technologies said it had appointed Shaun Tasker as the Managing Director of LSTH IFB.
He brings over 20 years of experience in commercial operations, sales, and project management and has successfully managed multimillion-pound businesses and co-managed his own facilities management company.
Tasker will focus on converting and growing the passive fire protection pipeline and will work closely with the team to strengthen the Injecta Fire Barrier brand and its market reach.
