Light Science Technologies Holdings CEO Simon Deacon joined Steve Darling from Proactive to announce that the company has secured a £1.17 million contract for its Passive Fire Protection services. The deal, awarded by a Manchester-based construction firm, involves upgrading fire safety in two residential tower blocks. This follows the successful completion of a £520,000 project with the same client.
Deacon highlighted the potential for this type of repeat and news business in the Passive Fire Protection division, given many clients manage extensive property portfolios. The new contract is expected to bolster the company's revenue and cash flow, with management optimistic about growth in the UK’s fire safety market, which is projected to be worth up to £50 billion due to tightening regulations.