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COMPANY ANNOUNCEMENT NO . 31 26 May 2021 LED LBOND LED iBond International A / S Agern Allé 5A 2970 Hørsholm Denmark CVR 36041609 +45 7070 7855 info@ledibond.com www.ledibond.com Interim report for the first quarter of 2021 : Revenue growth of 57 % despite continued COVID - 19 restrictions Today , LED iBond International's ( LED iBond ) Board of Directors approved the interim report for the first quarter ( Q1 ) of 2021. Highlights of the report include : Business development In the wake of the gradual re - opening of the domestic markets in Q1 , sales of LED panels to Nobia and upgrade panels for gas stations have performed well , driving a topline improvement of 57 % over the year - earlier period . However , commercial efforts , including the development of new international customer relationships , were impacted by continued COVID - 19 restrictions in Q1 . A report from the University of Southern Denmark confirms that the puriZAP device , a mercury - free disinfection tool for objects and surfaces , effectively inactivates corona virus ( SARS - COV - 2 ) - a breakthrough for puriZAP as well as for LED iBond's disinfection technology in general . Commercial interest for LED iBond's vertical farming shelves is gaining momentum and LED iBond has submitted several quotations for various vertical farming projects in Denmark and abroad during Q1 . In Q1 , the company entered an R & D partnership with Solar - Tectic LLC , a US - based company developing leading edge technology for the solar cell and lighting market . The partnership is organised as a Danish joint development company , tasked with the development and patenting of a new lighting technology . Financial development In Q1 , LED iBond generated revenues of TDKK 3,161 , an increase of 57 % over Q1 of 2020. In addition , the company received grants of TDKK 1,001 during the quarter . EBITDA came in at TDKK -1,387 in Q1 , an improvement of TDKK 251 ( 15 % ) over the year- earlier quarter . In Q1 , the company initiated a rights issue to raise additional capital for new commercial opportunities within vertical farming and UV - C disinfection , for expanding production capacity and for establishing a more sustainable capital structure . 62 % oversubscribed , the capital increase was completed in April 2021 .