sales by circa £25k per acre per Grower.

Sunlight doesn’t have enough red to drive photosynthesis optimally. Today, the proportion of photosynthetically active radiation (PAR) for plants, i.e. red light, is increased via artificial lighting - but electricity is costly. Our diffusive, red emitting spray paint for greenhouse sidings (panels) requires no electricity and can increase crop yields by circa 9%, as shown by our independently verified 40m2 field trial at Cranfield University. Lambda has filed a patent for the active chemical responsible for the light conversion from higher energy light to red light.

Our chemical is an air-stable additive, that can be dispersed into paints for spray coating onto existing glass and plastic greenhouses. The additive consists of a downshifting molecule, that absorbs UV light and re-emits red light that boosts crop yields and their sugar content. The surface texturing of our film provides diffused light, which enables more light to impinge on the leaves lower down (angled light), consequently increasing crop yields. The global greenhouse sidings and polytunnel market is expected to grow to circa $12b by 2030. Business model: direct (B2B) sales by 2025. Lambda plans to subcontract the scaleup of the active material to chemical manufacturers and subsequently sell it to greenhouse sidings manufacturers (who will coat their sidings with the active chemical), who will in turn sell their products to our end-users, the growers. Alternatively, we can sell directly to growers. Considering the submarkets we will likely capture and the economic value we can offer to growers (annual £25,000/acre of extra revenue), we expect to generate a revenue of £326m at a penetration rate of 2% in 2030. We expect to make £4.20 of gross profit per square metre of material, which will be sold to the grower at £14 per square metre. The payback is 2.3 years. Lambda will break even in 2026.