Light Science Technologies Holdings PLC (AIM:LST) (LSTH) CEO Simon Deacon speaks to Thomas Warner from Proactive about some recent developments at the agricultural technology company.
Deacon explains that LSTH has been awarded a share of a £2.3 million grant for a project focusing on potato farming. Collaborating with institutions like Bangor University and James Hunt Institution, the initiative aims to adapt the company's existing sensors for nitric oxide sensing, crucial for understanding soil conditions.
The sensors will monitor 24/7, providing valuable data on nutrient and fertiliser application, reducing wastage and environmental impact. Deacon portrays it as a lucrative opportunity to expand from controlled into open agriculture.
Additionally, the company has appointed Richard Mills to spearhead global partnerships, leveraging his two decades of experience in agriculture and ag-tech.
Addressing concerns about high input costs in markets like the UK and Europe, Deacon emphasises the importance of global product launches and strategic partnerships for continued growth and profitability.