CO2 GRO Inc. Announces a CO2 Delivery Solutions(TM) System Sale to a Tennessee Based Hemp Grower

Rhea-AI Summary

CO2 GRO Inc. has announced its first sale of the CO2 Delivery Solutions™ system to a hemp grower in Tennessee. This innovative technology enables growers to save up to 90% on CO2 gas usage and costs while improving crop yields and profitability. The hemp industry is expected to grow significantly, driven by the federal legalization of hemp products. CO2 GRO's solutions not only enhance plant growth by up to 30% but also provide pathogen protection. This marks a strategic expansion into a market projected to reach $55 billion by 2028.

Positive

• First sale of CO2 Delivery Solutions system to a reputable hemp grower in Tennessee.
• Potential for up to 90% savings on CO2 gas usage and costs.
• Ability to increase crop yields by up to 30% and profitability for growers.
• Entry into a rapidly growing market projected to reach $55 billion by 2028.

Negative

• None.

TORONTO, ON / ACCESSWIRE / December 6, 2021 / Toronto based CO2 GRO Inc. ("GROW") (TSXV:GROW)(OTCQB:BLONF)(Frankfurt:4021) is pleased to announce its first CO2 Delivery Solutions™ system sale in the state of Tennessee, to a hemp grower. The installation will be in a new indoor grow facility that will be expanded over time. The name of the client and commercial terms will remain confidential for competitive reasons.

The customer has extensive experience employing atmospheric CO₂ enrichment (also referred to in the industry as CO₂ gassing) to enhance crop yields. While CO₂ gassing does provide a significant improvement to hemp crop yields in an indoor environment, the volume and attendant cost of CO₂ gas required is not inconsequential. CO2 GRO's CO2 Delivery Solutions™ technology can save the customer up to 90% of CO₂ gas usage and costs while achieving yield targets and increasing profitability. In addition, the customer will benefit from CO2 Delivery Solutions'™ Pathogen Perimeter Protection™ which suppresses the development of powdery mildew on plants, improving overall production and financial performance.

Tennessee is one of a number of US states that are promoting hemp farming for CBD, with laws that require hemp plants to contain no more than 0.3% THC. This change was spurred by the federal legalization of hemp and hemp-derived products in the 2018 Farm Bill. According to a recent report from Fortune Business Insights, the US CBD market is expected to grow from $3.6Bn in 2021 to $55Bn in 2028 with an annual growth rate of 47%.

Aaron Archibald VP Sales and Strategic Alliances stated, "This customer reached out to us after extensively researching options for providing additional CO₂ to their hemp plants grown indoors. After reviewing our science and speaking to other customers currently using our technology, the customer decided to purchase the system without a feasibility. The customer's research and subsequent purchase confirms the many benefits our CO2 Delivery Solutions™ technology can provide to growers worldwide, whether they currently employ CO₂ gassing or not."

Darla Lanphear, North America Sales Manager for CO2 GRO commented, "As we continue to penetrate high potential geographic and plant vertical markets, we are seeing a growing awareness of CO2 GRO's CO2 Delivery Solutions™ technology. Potential customers are increasingly understanding that direct purchases of commercial systems will immediately start bringing significant benefits to them."

Visit www.co2delivery.ca for more information on CO2 Delivery Solutions™ or  watch this video. To see a CO2 Delivery Solutions™ VCO2 system installation, watch this video.

About CO2 GRO Inc. CO2 GRO Inc.

GROW's proprietary CO2 Delivery Solutions™ technology is revolutionizing the global 600 billion square foot protected agriculture industry (Cuesta Roble 2019). We create a dissolved CO₂ solution that when misted onto plants provides growers that cannot gas with CO₂ the opportunity to increase plant yields by up to 30% and profits by up to 100%. Applying a dissolved CO₂ solution also suppressed the development of pathogens such as E.coli and powdery mildew, helping to reduce crop losses. GROW's CO2 Delivery Solutions™ is protected by a suite of patents and patents pending.

The worldwide market for GROW's disruptive CO2 Delivery Solutions™ technology is the 50 billion square feet of greenhouses and 550 billion square feet of protected agriculture facilities (Cuesta Roble 2019). Growers can maximize revenue and profits with our systems' low fixed and variable costs and ease of systems installation.

GROW'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 North American base.

GROW is committed to good Environment, Social and Governance (ES&G) policy and practices. We are an equal opportunity employer of choice and opportunity.

Our mission is to accelerate the growth of all value plants safely, economically, naturally and sustainably using our patented advanced CO2 Delivery Solutions™ while accreting value to our customers, stakeholders and shareholders.

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, Investor Relations at 604-317-6197 or michael.oconnor@co2gro.ca.

SOURCE: CO2 Gro Inc.

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