LifeSafe Secures £1.3M Deal with Trinity Fire & Security for Innovative Fire Extinguishers

LifeSafe Holdings PLC, a fire safety technology developer based in Essex, England, has signed an exclusive deal with Trinity Fire & Security Systems Ltd to supply its advanced range of fire extinguishers filled with Multi-Purpose Fluid in the UK. The three-year contract is expected to generate sales of up to £1.3 million for LifeSafe.

Why this matters: This deal highlights the growing concern over lithium-ion battery fires and the need for innovative fire safety solutions. This deal highlights the growing concern over lithium-ion battery fires and the need for innovative fire safety solutions. The use of lithium-ion batteries becomes more widespread, increasing the risk of fires, making it essential to develop and implement effectivefire suppression technologies to protect people and property.

The Multi-Purpose Fluid developed by LifeSafe is designed to combat multiple fire types, including the growing risk posed by lithium-ion battery fires. Richard Castle-Smith, Head of Fire Suppression at Trinity Fire & Security, expressed enthusiasm for the partnership, stating, "We are delighted to be the exclusive UK distributor of a true multi-purpose portable fire extinguisher which is certified to combat the ever-growing risk of lithium battery fires."

Trinity Fire & Security,founded in 1997, is a well-established name in the fire safety industry. With annual revenues exceeding £60 million, the company operates across ten regional offices in the UK, serving over 2,000 customers. Its client base includes high-profile organizations, notably the Ministry of Defence, NHS, IKEA, and Heathrow Airport.

For LifeSafe, the partnership represents a significant milestone, providing access to the global industrial fire safety market, valued at £9 billion annually. Dominic Berger, Chairman of LifeSafe, emphasized the importance of the deal, stating, "The partnership agreement and contract with Trinity Fire & Security... marks a significant milestone for LifeSafe and will provide access to a global market valued at $9 billion annually."

LifeSafe, which was admitted to trading on AIM in July 2022 under the ticker LIFS, has developed a range of eco-friendly fire safety protection products. These include the patent-pending Thermal Runaway Fluid, designed to combat lithium battery fires, and the StaySafe All-in-1, a handheld, eco-friendly, and fully recyclable extinguisher.

The company recently reported its FY23 trading in line with expectations, with revenue at £5.9 million and an underlying LBITDA forecast of £1.4 million. Following the announcement of the Trinity Fire & Security deal, LifeSafe's shares jumped 12.5%, with the current stock price at 15.84 pence, albeit down 55% over the past 12 months.

Demand for advanced fire safety solutions continues to grow, particularly in light of the increasing prevalence of lithium-ion batteries, LifeSafe's innovative products and strategic partnerships position the company to capitalize on this expanding market. The exclusive deal with Trinity Fire & Security not only provides a significant boost to LifeSafe's revenue potential but also validates the effectiveness and market appeal of its advanced fire suppression technology.

The partnership between LifeSafe Holdings PLC and Trinity Fire & Security Systems Ltd has the potential to transform the fire safety industry in the UK and beyond. With Trinity's extensive customer base and market reach, combined with LifeSafe's groundbreaking products, businesses and organizations across various sectors stand to benefit from enhanced protection against the evolving risks posed by modern fire hazards.

Key Takeaways

• LifeSafe signs 3-year deal with Trinity Fire & Security to supply fire extinguishers in the UK.
• Deal expected to generate £1.3 million in sales for LifeSafe.
• Partnership addresses growing concern over lithium-ion battery fires.
• LifeSafe's Multi-Purpose Fluid combats multiple fire types, including lithium-ion battery fires.
• Deal provides access to £9 billion global industrial fire safety market.