When fully phased in over the course of a few years, LED iBond expects that the new partnership will generate annual revenues in excess of DKK 10 million for the company.

The new vertical farming shelves are based on LED iBond's patented lighting fixture, which combines superior cooling characteristics and minimal space requirements with a high carrying capacity. A shelf-mounted ventilation feature is optional.

Rolf H. Sprunk-Jansen, CEO of LED iBond, says:

- This new partnership with Senmatic marks LED iBond's commercial entry into the industrial vertical farming market. With their vertical farming technology and their global network of 40 dealers, Senmatic is an ideal partner for us, bringing our LED panel technology into play in an emerging industry with huge growth potential. The agreement with Senmatic makes us even more confident that LED iBond's financial outlook is well within reach.

The strategic partnership between Senmatic and LED iBond is based on Senmatic's in-depth knowledge of LED grow lights and software solutions for industrial vertical farming and LED iBond's unique LED technology platform. Mads Nychel, CEO at Senmatic A/S, says:

- We have more than 40 years of experience with indoor plant production. We will combine LED iBond's super-slim and energy-efficient shelf-and-lighting panels with our controllers and software to create a multifunctional vertical farming solution with best-in-class growth conditions for industrial indoor horticulture. This new partnership with LED iBond will further contribute to our growth in the vertical farming market, so we are very pleased indeed for this opportunity to join forces with LED iBond.

LED iBond and Senmatic are planning to launch their joint vertical farming offering at the end of Q4 2020. The financial implications of the strategic partnership with Senmatic are already included in LED iBond's financial outlook.