CO2 GRO Inc. Announces a Commercial Feasibility at an Iowa based Strawberry Greenhouse

Rhea-AI Summary

CO2 GRO Inc. (OTCQB: BLONF) announced the installation of its Commercial Feasibility CO2 Delivery Solutions™ VCO2 system at DeJong Greenhouse in Iowa, marking a significant first for both the company and the state. This initiative aims to enhance strawberry production through benefits such as faster harvests and increased yields. The global strawberry market showcased a $3.6 billion production in the US, dominated by California and Florida. CO2 GRO's technology promises improved crop yield by up to 30%, presenting a strong opportunity for growth in local greenhouse operations.

Positive

• Installation of the VCO2 system at DeJong Greenhouse indicates strong market adoption.
• Potential to increase strawberry yields significantly, improving profitability for growers.
• First feasibility project in Iowa can serve as a model for further expansions in the region.

Negative

• None.

TORONTO, ON / ACCESSWIRE / September 17, 2020 / Toronto based CO2 GRO Inc. ("GROW") (TSXV:GROW, OTCQB:BLONF, Frankfurt: 4021) is pleased to announce that it will install a Commercial Feasibility CO2 Delivery Solutions™ VCO2 system in a portion of Iowa based DeJong Greenhouse's ("DeJong") 11,600 square foot strawberry cultivation greenhouse. In February 2017, Minnesota based Dan & Jerry's Greenhouses ("Dan & Jerry"), one of the top 100 greenhouse growers in the US, bought DeJong.

This is GROW's first Commercial Feasibility with a strawberry greenhouse and in the state of Iowa. The objectives of the Feasibility are to assess the impact of CO2 Delivery Solutions™ on faster fruit harvests, increased fruit production per harvest, Perimeter Protection™ against the spread of microbial pathogens and CO2 usage.

The Global Strawberry Market

In 2017, the US produced $3.6 billion of strawberries with California and Florida accounting for 91% of US production. The US has approximately a 16% global production share of the nine-million-ton global strawberry market according to Tridge (www.tridge.com).

While still small as a percentage of the global strawberry market, there is a trend towards building, expanding or repurposing more local greenhouses dedicated to growing strawberries in both the US and Canada. Year-round premium flavor from picking nearly ripe strawberries is driving this trend.

According to John Archibald, GROW's CEO, "We are excited to start a Feasibility with yet another high value greenhouse crop. Strawberries and other fruits are excellent crops for our technology as the supplemental CO2 not only increases yield, but also the additional carbohydrates production can improve the sweet flavor of the fruit."

About DeJong Greenhouses and Dan & Jerry's

DeJong Greenhouses is an 80-year-old business that has been continuously family owned. It has three major production locations, two in Pella and one in Oskaloosa, IA. It delivers to major retailers and landscapers throughout Iowa and in the Kansas City, Omaha, and St. Louis markets.

Dan and Jerry's Greenhouses has a total of four locations, two in Monticello, MN, one in Buffalo, MN, and one in Madison, SD, encompassing approximately 35 acres (1.57 million square feet) of greenhouse space. The company serves independent garden centers, regional chains, supermarket chains, and nurseries throughout Illinois, Iowa, Minnesota, Nebraska, North Dakota, South Dakota, and Wisconsin.

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.

GROW's target markets are focused on the 50 billion square feet of global greenhouse and covered cultivation space (USDA). Atmospheric enrichment of CO2 by gassing has been practiced in indoor and expensive sealed greenhouses for decades resulting in enhance crop yields of up to 30%. However, 85% of the world's greenhouses are unsealed and have open-venting designs for heat ventilation which makes CO2 gassing uneconomical and impractical since the CO2 gas easily escapes.

GROW's CO2 Delivery Solutions™ naturally and safely dissolves CO2 gas into water creating an aqueous CO2 solution which is then misted directly on plant leaves. GROW has demonstrated its technology to be as effective as CO2 gassing by improving crop yields up to 30%, while using a fraction of the CO2 gas. The CO2 solution's micro droplets create an aqueous film around the entire leaf surface, isolating the leaf from the atmosphere. This creates a diffusion gradient favoring CO2 transport into the leaf and other gases out of the leaf. Increased carbon availability enhances photosynthesis resulting in faster and larger plant growth. CO2 Delivery Solutions™ has been demonstrated on crops including Cannabis, hemp, lettuce, kale, microgreens, peppers and flowers. In addition, aqueous CO2 misting offers Perimeter Protection™ for plants by slowing the spread of micro pathogens such as E. coli and powdery mildew. Greenhouse growers everywhere can now supplement CO2 to their crops using CO2 Delivery Solutions™, increasing plant yields and profits.

Forward-Looking Statements This news release may contain forward-looking statements that are based on CO2 GRO's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by 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 Sam Kanes, VP Communications at 416-315-7477 or Michael O'Connor, Manager of IR at 604-317 -6197.

SOURCE: CO2 GRO Inc.

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https://www.accesswire.com/606512/CO2-GRO-Inc-Announces-a-Commercial-Feasibility-at-an-Iowa-based-Strawberry-Greenhouse

FAQ

What is the significance of CO2 GRO's project at DeJong Greenhouse?

The project will assess CO2 Delivery Solutions™ impact on strawberry production, including faster harvests and increased yields.

How does CO2 GRO's technology work?

The technology dissolves CO2 into water, misting it on plants to enhance photosynthesis and yield.

What is the market size of the strawberry industry?

The US produced $3.6 billion in strawberries, with California and Florida accounting for 91% of the production.

What are GROW's growth prospects?

With improved yield potential in greenhouses, GROW is well positioned to capture market demand in the strawberry sector.

What is the stock symbol for CO2 GRO?

The stock is traded under the symbol BLONF on OTCQB.