CO2 GRO Inc. and Mexico Partner Rancho Nexo Announce a Second Technology Trial at a Mexican Bell Pepper Greenhouse

Rhea-AI Summary

CO2 GRO Inc. (OTCQB:BLONF) has initiated a second technology trial at a bell pepper greenhouse in Querétaro, Mexico. This trial aims to enhance fruit yield, lower production costs, and reduce pathogens like powdery mildew. The trial area spans 500m², following the first trial announced in April 2022 at a larger facility in Puebla. The outcomes from these trials are anticipated to attract more Mexican vegetable growers, contributing significantly to the market that supplies 90% of vegetables exported to the US and Canada.

Positive

• Initiation of a second technology trial in Querétaro, Mexico, targeting enhanced bell pepper yields.
• Expected attraction of additional Mexican vegetable growers to CO2 GRO's technology, tapping into a major export market.

Negative

• None.

TORONTO, ON / ACCESSWIRE / May 26, 2022 / Toronto-based CO2 GRO Inc. ("CO2 GRO" or the "Company") (TSXV:GROW), (OTCQB:BLONF), (Frankfurt:4021) and their Mexico marketing and sales partner, Rancho Nexo are pleased to announce that a second technology trial ("Trial") will proceed at a bell pepper greenhouse in the state of Querétaro. The size of the Trial grow area is 500m2 or 5500 square feet. The customer requires anonymity so no further details can be disclosed.

The Trial's goals are to increase bell pepper fruit yield, reduce the spread of pathogens such as powdery mildew, and reduce the overall cost per unit of production thereby increasing overall margins.

On April 7, 2022 CO2 GRO and Rancho Nexo announced the first Trial in Mexico for Bresca Hortalizas S.P.R. de R.L. in their 4 Ha (10 acre) new greenhouse in the State of Puebla, Mexico.

Rancho Nexo's Matt Grant stated "Rancho Nexo is committed to bringing key technologies to Mexican Agri Business of which CO2 GRO's precision ag technology is integral."

CO2 GRO's VP Sales & Strategic Alliances, Aaron Archibald commented, "Commercial success at these two Mexican vegetable Trials with our partner Rancho Nexo should open the door to many other Mexican AMHPAC member vegetable growers trying our technology. They represent 90% of Mexico's vegetable exports to the US and Canada."

Visit CO2 Delivery Solutions for more information on CO2 Delivery Solutions™ or  watch this video. 

About Rancho Nexo (www.ranchonexo.com)

Rancho Nexo, based in Guelph, Ontario, Canada and Mexico City, is dedicated to connecting the world with the power of technology by bringing together innovators and global channel partners. Rancho Nexo was founded to help innovative tech companies reach broader markets in a shorter period of time. "We represent advanced technology firms in Latin American Markets and offer their innovative solutions to companies looking to revolutionize their performance".

CO2 GRO Inc. CO2 GRO Inc.

CO2 GRO's proprietary CO2 Delivery Solutions™ technology is revolutionizing the global estimated 800 billion square foot protected grower market. This is comprised of 600 billion square feet of fruits & vegetables (Cuesta Roble 2019), an estimated 100 billion square feet of floriculture and another estimated 100 billion square feet of crops such as medicinal plants, citrus tree seedlings and other non-food varieties.

Dedication: CO2 GRO is dedicated to enhancing plant growth and productivity sustainably, while reducing our customers' ecological footprint with a focus on People, the Planet and Prosperity.

Our Technology: CO2 Delivery Solutions™ creates a dissolved CO₂ solution that is misted onto plants grown in greenhouses and protected grower facilities globally providing growers with multiple significant benefits.

Value Proposition: Growers that cannot atmospherically enrich their facilities with CO₂ (gassing) can now realize yield increases of up to 30% and up to a doubling of gross profits, while suppressing the development of micro-pathogens such as E.coli and powdery mildew leading to healthier crops. Greenhouses and indoor facilities that currently do employ CO₂ gassing can save up to 90% on their CO₂ consumption, thereby reducing their production costs and CO₂ enrichment emissions.

Patent Protection: CO2 GRO's CO2 Delivery Solutions™ technology is protected by a suite of patents and patents pending.

Business Model: Our technology is sold to growers based on the cultivation area installed at prices that provide a high return on their investment and high margins for our shareholders.

Global Expansion: CO2 GRO's management is rapidly expanding its international marketing partner relationships into Mexico, Spain, the EU, the UK, South Africa, the Middle East, South East Asia and Latin America as well as in its US and Canadian base.

Environment, Social and Governance ESG: CO2 GRO is committed to good Environmental, Social and Governance (ESG) policies and practices. We are an equal opportunity employer of choice and opportunity.

Forward-Looking Statements

This press release contains statements which constitute "forward‐looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities. Forward‐ looking information is often identified by the words "may," "would," "could," "should," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect" or similar expressions and include information regarding: statements regarding the future direction of the Company; the ability of the Company to successfully achieve its business and financial objectives; plans for expansion and the ability of the Company to obtain, develop and foster its business relationships; and expectations for other economic, business, and/or competitive factors. Investors are cautioned that forward‐looking information is not based on historical facts but instead reflect the Company's management's expectations, estimates or projections concerning the business of the Company's future results or events based on the opinions, assumptions and estimates that management considered reasonable at the date the statements are made. Such assumptions include but are not limited to: general business and economic conditions; the Company's ability to successfully execute its plans and intentions; the availability of financing on reasonable terms; the Company's ability to attract and retain skilled staff; market competition; the products and technology offered by the Company's competitors; and that good relationships with business partners will be maintained. Although the Company believes that the expectations reflected in such forward‐looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements. Among the key factors that could cause actual results to differ materially from those projected in the forward‐looking information are the following: changes in general economic, business and political conditions, including changes in the financial markets; in particular, in the ability of the Company to raise debt and equity capital in the amounts and at the costs that it expects; adverse changes in applicable laws or adverse changes in the application or enforcement of current laws; the biotechnology industry and the greenhouse growers market are highly competitive, and technical advances in the industry will impact the success of the Company, and other risks described in the Company's filings that are available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward‐looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward‐looking information except as otherwise required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information, please visit www.co2gro.ca or contact Michael O'Connor, Manager, and Investor Relations at 604-317-6197 or michael.oconnor@co2gro.ca

SOURCE: CO2 Gro Inc.

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FAQ

What is the aim of CO2 GRO's second technology trial in Mexico?

The trial aims to enhance bell pepper fruit yield, reduce the spread of pathogens, and lower overall production costs.

When was the first technology trial by CO2 GRO in Mexico announced?

The first technology trial was announced on April 7, 2022, at a greenhouse in Puebla.

What are the expected outcomes of CO2 GRO's technology trials?

The trials are anticipated to increase yields and margins for Mexican vegetable growers, potentially attracting more customers.

Which market does CO2 GRO's technology target?

CO2 GRO's technology targets the Mexican vegetable market, which supplies 90% of vegetables exported to the US and Canada.

What is the significance of the location of CO2 GRO's trials?

The trials are set in key agricultural regions of Mexico, enhancing CO2 GRO's visibility and potential market penetration.