Contract fires company's £50 billion market hopes

A technology firm says it is “well placed” to grow in a £50 billion market after securing a seven-figure contract.

Light Science Technologies Holdings’ passive fire protection division has landed £1.17 million work with a Manchester construction firm.

The agreement will see the Derbyshire company supply cavity remediation to the redevelopment of two residential tower blocks.

The order, set to be completed in the first half of next year,  builds on a £600,000 deal with the same customer, and means the company’s fire protection division has received orders worth more than £2.5 million since its foundation a year ago.

Simon Deacon, Light Science Technologies Holdings’ chief executive, said: “We’re pleased to win this considerable contract.

“The division is well placed to capitalise on the UK’s fast-growing fire safety market, which has a potential total value of up to £50 billion and is being driven by increasing regulation.

“We are seeing increasing levels of enquiries as this market develops, with regulation and our proven ability to service customers underpinning confidence in our ability to further grow our client base.”

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