Lambda Energy celebrates Rising Stars success and looks to fundraise options
Lambda Energy claimed third place in the Rising Stars competition last week, as it continues to develop its light-changing spray coating for greenhouse panels that can increase crop yields by 20 per cent.
Based at the Yusuf Hamied Chemistry Department on Lensfield Road, Lambda was founded in 2018, initially enhancing the solar panel capabilities before pivoting to sustainable agritech in 2022.
“We have a spray coating containing a molecule we make ourselves,” explains CEO Monica Saavedra. “We have filed a patent for the molecule, which we designed to be non-toxic, durable and low-cost from the outset. It absorbs UV light and converts it to red light – the chemists describe it as ‘a beautiful molecule’. It’s very complex and also very modular, so you can easily substitute it for other uses, such as different types of paints or entirely different materials, making it highly versatile.”
She continues: “We co-created it with the University of Cambridge – they designed one part, we designed the other. We put the two together and it worked. We’re based at the Chemistry Department, with Prof Dominic Wright – we’re using their facilities.”
Prof Wright, professor of inorganic chemistry at the University of Cambridge, runs the Wright group, whose research interests are firmly focused on inorganic synthesis and materials chemistry. Lambda has been working closely with the research group since 2021 via several UK government grants, under which the Wright group has isolated candidate materials for down-shifting, and co-developed the molecule for Lambda’s minimum viable product.
He said: “Working closely with Lambda Agri on translating fundamental research we have done into a real-life application that matters to everyone has been a rewarding experience for me and my research team.”
The Rising Stars awards, which are hosted by Tech Nation, are now in their fifth year. The early-stage tech start-ups and scale-ups bring 33 regionals winners into a Grand Final where 10 finalists pitch on-stage during London Tech Week.
Last week’s event was compered by TV presenter and diversity expert June Sarpong, with judges including Tej Lalvani of Dragons’ Den and London Stock Exchange CEO Julia Hoggett. Lambda, who came third, were behind 3D body armour printing company Vikela Armour, from Belfast, and the winner, Reading-based Novai, which is on a mission to combat blindness by pioneering early detection and intervention of eye and brain disease.
The result will help Lambda get large-area tests under way.
“Initially, we will sell the spray-coatable paint directly to the growers to build up use cases,” says Monica. “Then we will sell the active material to global greenhouse paint manufacturers.
“Eventually we’ll want to licence the technology to chemical manufacturers.
“To get ready for commercialisation, we want to carry out a large-scale 3,000 sq m area trial this summer. We have two UK growers who have agreed to trial our technology, as well as a 100 square metre trial at the University of Cranfield. We’ll be growing tomatoes, coriander, mint and strawberries. This is a very good way obtaining use cases in a subsidised way as we’ve been pretty good at securing Innovate UK grants.
“We want to get a good deal with global paint manufacturers, so we can stabilise financially and begin looking into other areas, such as solar, biotech and security.”
Monica is concerned about equity in this current, difficult investment climate – equity which is required to get the large-area tests under way.
“We are fundraising right now,” she says. “We need £150k to get us all the way through the 3k sq m trials.”
