Shares in Light Science Technologies Holdings PLC (AIM:LST) were in demand on Monday afternoon after the company signed a new distribution agreement to expand its presence in the UK and Europe.
The deal gives LSTH exclusive rights to sell Agrolux’s LED lighting systems in the UK and Ireland under the “Agrolux presented by Light Science” brand, with the potential for further European expansion.
The partnership will allow Light Science to combine Agrolux’s LED Wega product line with its own nurturGROW sustainable lighting range and sensor technology.
CEO Simon Deacon called the agreement an “exciting opportunity” to reach a wider audience.
The company’s pipeline of quoted UK and European projects exceeds £10 million, and it aims to leverage Agrolux’s 20 years of agronomy expertise to drive future growth.
Agrolux is part of Scotts Miracle-Gro, a global lawn and garden industry leader with a $3.9 billion market cap.
In afternoon trading, the stock was up 0.05p at 2.6p.