CO2 GRO Inc. Announces a Commercial Feasibility in Japan with a High-Tech Controlled Environment Agriculture ("CEA") Grower

Rhea-AI Summary

CO2 GRO Inc. (OTCQB: BLONF) has announced a commercial feasibility study for its CO2 Delivery Solutions™ system with a prominent greenhouse grower in Japan. This initiative is set to run for up to 12 months and aims to evaluate the impact of CO2 delivery on plant growth and yield. The move aligns with Japan's Green Growth Strategy aimed at achieving carbon neutrality by 2050. The company's technology can potentially increase plant yields by up to 30% and profits by up to 100%, while reducing ecological footprints.

Positive

• Initiating a commercial feasibility study in Japan demonstrates market expansion efforts.
• Potential to enhance plant yields by up to 30% and profits by up to 100%.
• Aligns with Japan's commitment to carbon neutrality, addressing environmental challenges.

Negative

• None.

TORONTO, ON / ACCESSWIRE / August 16, 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 a Japan based greenhouse grower that asked to be unnamed. The grower is an agriculture innovator in Japan with its high-tech Controlled Environment Agriculture facilities ("CEA").

The commercial feasibility will be conducted in a section of one of the company's commercial greenhouses for up to twelve months. The CO2 Delivery Solutions™ system will utilize an existing overhead irrigation boom to apply the CO₂ saturated solution mist on the plants. The primary focus of the commercial feasibility is to assess CO2 Delivery Solutions™ impact on life cycle acceleration enabling more harvest turns, increased biomass growth and CO₂ usage. Japan's "Green Growth Strategy Through Achieving Carbon Neutrality in 2050" means CO₂ usage will become an ever-increasing challenge for Japanese protected agriculture facilities in the coming years. CO2 Delivery Solutions™ can help them achieve their reduced CO₂ use over time.

Japan's Commitment to Net Zero Carbon Emissions by 2050

Japan presented its new "Green Growth Strategy Through Achieving Carbon Neutrality in 2050" in December 2020. The strategy is specifically designated as an industrial policy and promotes the creation of a virtuous cycle of economic growth and environmental protection, together with the business community that also includes agriculture.

The Japanese Protected Agriculture Market

Like the Netherlands, the much larger 5 billion square foot Japanese protected agriculture market is mostly high-tech CEA but the average Japanese greenhouse is much smaller. Dr. Toyoki Kozai, professor emeritus at Chiba University stated at a CEA conference that, "the average greenhouse floor area in Japan is 0.5 hectares, compared to 10-50 hectares in the Netherlands. Scarcity of land in both countries has led to their high tech indoor ag focus".

GROW's VP Sales & Strategic Alliances, Aaron Archibald stated, "This is our first Japanese project to showcase our CO2 Delivery Solutions™ benefits. In our Q1 2021 MD&A we mentioned our 2021 objectives to include opening up Japan and Spain protected ag markets and finalizing a Mexico marketing partner which we have now done. We are comfortable based on our ever-increasing feasibility data that our technology will provide the desired plant yield and pathogen protection while reducing their ecological footprint."

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. (https://www.co2gro.ca/)

GROW's proprietary CO2 Delivery Solutions™ technology is revolutionizing the global 600 billion square foot protected agriculture industry (Cuesta Roble 2019). 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 30% and profits by up to 100%. Applying saturated CO₂ 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 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 significance of CO2 GRO Inc.'s commercial feasibility study in Japan?

The study aims to assess the potential benefits of CO2 Delivery Solutions™ for enhancing plant growth and yields in Japanese greenhouses.

How long will the CO2 Delivery Solutions™ feasibility study last?

The feasibility study is planned to continue for up to 12 months.

What are the expected benefits of CO2 Delivery Solutions™ technology?

The technology could potentially increase plant yields by up to 30% and profits by up to 100% while reducing the ecological footprint.

How does Japan's Green Growth Strategy impact CO2 GRO Inc.?

Japan's strategy focuses on carbon neutrality by 2050, aligning CO2 GRO's solutions with the growing need for sustainable agricultural practices.

What market does CO2 GRO Inc. aim to expand into with this project?

The company aims to further penetrate the Japanese protected agriculture market through this feasibility project.