Payment from Vanderlande to LED Aviation overdue

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In company announcement no. 8, 15 September 2020, LED iBond International (LED iBond) announced that Vanderlande had placed an order for 50 UV-C LED-based disinfection systems for airport security checkpoints with LED Aviation, a spin-off from LED iBond.

LED iBond’s role is to develop and manufacture these systems. Accordingly, the products and LED iBond’s manufacturing facilities have been approved by Intertek, Sweden. Therefore, LED iBond and LED Aviation are ready to start the manufacturing and delivery process.

However, as LED Aviation is still awaiting payment from Vanderlande, LED iBond has been informed that LED Aviation is taking legal action against Vanderlande.

LED iBond has received compensation from LED Aviation for the product development activities and manufacturing preparations.

The outstanding payment between LED Aviation and Vanderlande does not change LED iBond’s previously announced financial outlook.

Further Information
Pia Stangerup, CEO
Mobile: +45 5117 6701

Company contact
LED iBond International A/S
Agern Allé 5A
2970 Hørsholm

CVR 36041609

+45 7070 7855

Certified advisor

Västra Hamnen Corporate Finance
Jungmansgatan 12
211 19 Malmö

Telephone: +46 40 200 250

About LED iBond International A/S

Founded in 2014, LED iBond International offers innovative solutions for integrating light and data, based on the company’s deep knowledge of modern LED technology and many years of development. The patented technology includes the lightest and thinnest LED basis available, offering a unique value proposition combining total design flexibility, full IoT integration and low total costs of ownership. LED iBond’s technology has been deployed in many projects, ranging from intelligent shelf lighting to large scale indoor illumination projects such as the installation of 3.2 kilometres of Tracy®, the company’s innovative flagship product, at DTU, the Technical University of Denmark.

Due to the data transfer capabilities, superior form factor and cooling properties of the technology platform, LED iBond is focusing on three key business lines: Smart Building, UV Disinfection and Vertical Farming, all projected to show significant growth in the years to come.

LED iBond International A/S is admitted to trading on Nasdaq First North Growth Market Denmark (ticker: LEDIBOND).