CO2 GRO Inc. Announces a Commercial Feasibility at La Serra Ltd., a UK based Tomato Greenhouse Grower with Marketing Partner Rika BioTech Limited
CO2 GRO Inc. (OTCQB:BLONF) announced a commercial feasibility project with La Serra Ltd., a UK tomato greenhouse operator. This project, facilitated by Rika BioTech Limited, will assess the benefits of the CO2 Delivery Solutions™ system for one year, focusing on suppressing powdery mildew and enhancing tomato production. La Serra's advanced facility aims to improve operating margins and sustainability. Management expresses optimism about future partnerships and market traction in the UK and Europe.
- Initiation of a commercial feasibility project with La Serra to assess CO2 Delivery Solutions' benefits for mildew suppression and enhanced production.
- Focus on improving operating margins and sustainability in a state-of-the-art greenhouse.
- Optimism regarding future partnerships and market development in the UK and Europe.
- None.
TORONTO, ON / ACCESSWIRE / June 8, 2021 / Toronto based CO2 GRO Inc. ("GROW") (TSXV:GROW, OTCQB:BLONF, Frankfurt:4021) is pleased to announce a commercial feasibility of a CO2 Delivery Solutions™ system with UK tomato greenhouse grower, La Serra Ltd. ("La Serra"). This project was sourced by GROW's UK based Marketing Partner Rika BioTech Limited ("Rika").
The commercial feasibility will be conducted in a section of La Serra's 8-hectare (861,000 square foot) greenhouse for one-year. The primary focus of the commercial feasibility is to assess CO2 Delivery Solutions'™ Perimeter Protection™ benefits. Suppression of powdery mildew on susceptible tomato varieties is of interest to La Serra as it is expected to result in significant crop savings resulting in improved operating margins. The commercial feasibility will also monitor enhanced tomato fruit production and CO2 usage.
The La Serra facility was built in 2018 with the first planting in 2019. It is a state-of-the-art glass greenhouse employing hybrid lighting with both Top LED and Inter-lighting which operates year-round.
La Serra's General Manager, Nick Arnst stated, "We are interested in the CO2 Delivery Solutions™ technology and in particular its plant Perimeter Protection™ benefits. Suppressing powdery mildew can be a challenge given the variety of tomatoes we grow. Suppression of powdery mildew would result in significant crop savings and be positively reflected in our operating margins. At La Serra, one of the most technologically advanced tomato greenhouses in the UK, our goals are to leverage all available technology to operate a facility that is sustainable, minimizes its carbon footprint while at the same time maximizing financial performance."
Rika BioTech Limited Principal, Harry Hoskyns stated, "Our efforts in our home country to increase the value of UK's protected grow facilities with CO2 Delivery Solutions™ systems are beginning to show results. We are very encouraged by the interest to date and look forward to additional commercial feasibilities and in time, purchases of CO2 GRO's CO2 Delivery Solutions™ systems."
GROW's VP Sales & Strategic Alliances, Aaron Archibald stated, "Our partnership with Rika has already borne fruit with our previous commercial feasibility announcements in France and the Netherlands. We are excited for Rika's second project in their home country, the United Kingdom. We look forward to continue gaining traction in their exclusive markets of the UK, the Netherlands and Belgium where they are building the foundation for a strong sales pipeline."
About La Serra Ltd. www.laserra.org.uk
La Serra produces high quality tomatoes year-round in a new, state-of-the-art, eight hectare glasshouse in the heart of one of England's most famous growing regions. We are proud to be able to supply our commercial customers via Evesham Vale Growers Europe, including food retailers and restaurants with some of the very best British tomatoes from the most technologically advanced greenhouse in Northern Europe.
About Rika Biotech www.rikabiotech.com/biomist
Rika Biotech is a multi-disciplinary project development and green technology business. Alongside our core business as biomethane and BioLNG developers, we also provide technologies that maximize resource use efficiency in the agriculture, waste and transport sectors. Rika has formed a licensing agreement with CO2 GRO Inc. to offer their customized CO2 Delivery Solutions™ that are practical and affordable for all indoor plant growers to the UK and other European markets under the name Rika Biomist.
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. www.co2gro.ca
GROW's proprietary CO2 Delivery Solutions™ technology is revolutionizing the global 600 billion square foot protected agriculture industry (Cuesta Roble 2018). We create a saturated CO2 solution that when misted onto plants provides growers that cannot gas with CO2 the opportunity to increase plant yields by up to
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 2018). 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 the EU, the UK, Mexico, 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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FAQ
What is the purpose of the commercial feasibility project with La Serra Ltd?
How long will the feasibility project with La Serra last?
What are CO2 GRO's plans for future partnerships?
What technology is CO2 GRO testing at La Serra's greenhouse?
What impact does the CO2 Delivery Solutions™ technology have on crop production?
