Light Science Technologies Holdings PLC (AIM:LST) said its paid-for trials have the potential to generate significant revenues.
The group, a specialist in lighting used in greenhouses, polytunnels and vertical farming, said the latest batch of projects could result in contracts worth £3mln.
It is currently working with a manufacturer of jams and marmalades using the company’s nurturGROW slim lighting product, which is also being deployed at a vertical farm R&D facility.
The update was provided in a third-quarter trading statement. In it, investors were told the sales pipeline of quoted work across both divisions (it also has a contract electronics manufacturing arm) stands at over £61mln, of which forward orders and contracts are worth £19.6m.
"Food security is highly topical due to the heat wave and the hottest year on record in Europe, with wildfires and droughts meaning farmers are unable to water their crops, likely leading to food shortages this winter,” said Simon Deacon, chief executive of LSTH.
"More of our clients are deciding to grow indoors as the weather becomes more extreme and unpredictable.
“Our nurturGROW lighting and sensorGROW products help growers to reduce waste, be more energy efficient, proactive and save them money in the long-term.
“As a result, we continue to build our quoted pipeline and our forward order book remains strong."