RE: Excitement about vertical farming etc24 Oct 2021 06:47
MIDAS SHARE TIPS: More than half of the UK's produce comes from abroad, but you can harvest rewards from veg grown closer to home with Light Science Technologies
By JOANNE HART, FINANCIAL MAIL ON SUNDAY
PUBLISHED: 21:51, 23 October 2021 | UPDATED: 22:16, 23 October 2021
Once, the UK was self sufficient when it came to food. Today, more than half comes from abroad, with just 23 per cent of fruit and vegetables grown here, according to research based on Government data.
As recent weeks have shown, that reliance on imports can create serious shortages, with supermarkets routinely running out of goods that most consumers consider staple fare.
But there are other factors to consider too. Fruit and vegetables taste best when they are freshly picked. When produce comes from abroad, it is invariably at least a week old and can sometimes be in storage for months, peppered with preservatives and tasting of little or nothing.
A good buy: Fruit and vegetables taste best when they are freshly picked +1
A good buy: Fruit and vegetables taste best when they are freshly picked
There are energy considerations as well. The further food has to travel, the greater its environmental impact. The entire food industry is responsible for about 20 per cent of the UK's greenhouse gas emissions, according to scientists, with fruit and vegetable production accounting for a sizeable proportion of that total.
Light Science Technologies Holdings was founded expressly to increase the amount of fruit and vegetables the UK can grow locally, using advanced technology to improve yields, make food taste fresher and increase its nutritional value.
The company was listed on the London Stock Exchange's junior AIM market this month. The shares are 12.45p and should increase substantially in value as this country and others focus on producing more food closer to home.
Chief executive Simon Deacon started his own lighting business at the tender age of 19. Initially based in a portable cabin, the firm amassed clients including Marks & Spencer and Next, and left Deacon, 48, with a lifelong interest in lighting and electrical equipment.
In 2016, he acquired Manchester-based manufacturing firm, UK Circuits and Electronics Solutions. The business makes circuit boards, delivered £7million of turnover last year and has a strong order book, with customers including Rentokil Initial, top car makers and supermarkets. In 2019, the business was tasked with creating lights for an indoor farm. The project was so successful that it spawned a new firm, Light Science Technologies.
Today, Light Science Technologies Holdings encompasses both the established circuit board business and the recently formed farming technology division.
Deacon, who lives on a working farm, is passionate about increasing the amount of food that the UK can grow locally. Recognising that plants react differently to every environment, he and his team have created more than 40 variations of ligh
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