Light Science Technologies Holdings PLC (AIM:LST) has thrown its support behind a new report that lays bare the UK’s struggle to fix unsafe building cladding, saying its fire safety arm offers a cheaper, faster fix to the problem.
The company, which owns Injecta Fire Barrier, says its cavity fire protection system can be installed without tearing off building façades and comes in at around a third of the cost of traditional methods.
It also avoids the lengthy disruption that usually comes with cladding removal, which has become a major sticking point for residents and building owners.
A report from Parliament’s Public Accounts Committee, published on Friday, said work had yet to start on half the buildings identified as needing remediation.
It warned of spiralling costs, a shortage of skilled engineers and mounting pressure on leaseholders. What started as a £600 million plan to fix 450 buildings has now ballooned to an estimated 9,000 to 12,000 properties, with a potential price tag of up to £22.4 billion.
LSTH bought Injecta Fire Barrier in November 2023. Since then, it has completed work on 11 buildings, taken in £2.7 million in orders, and built a pipeline of live project quotes worth £16.5 million.
The company expects activity to pick up quickly now that the Building Safety Regulator has promised to clear a backlog of over 100 project approvals by the end of April.
Injecta’s system works inside the cavity wall, which the company says not only makes it less disruptive but also easier to scale, thanks to a larger pool of UK-accredited fire safety installers. It is designed to meet PAS 9980 guidance, the government-backed framework for assessing the fire risk of external walls.
LSTH CEO Simon Deacon told investors: "We have a compelling solution that meets new safety standards, saves money, is far faster to implement, causes significantly less disruption, and is quick to scale.
"Wider adoption of Injectaclad ultimately means that homes and places of work will be safer; both at a faster rate and with less financial burden."