CO2 GRO Inc. Announces a Commercial Feasibility with a US Floriculture Greenhouse

Rhea-AI Summary

CO2 GRO Inc. (OTCQB:BLONF) announced a commercial feasibility study of its CO2 Delivery Solutions™ system with a US floriculture greenhouse. This feasibility will be conducted over 12 months, aimed at accelerating flower growth and providing pathogen protection. The client, who remains unnamed, has paid CAD$25,000 for the study. CO2 GRO's research indicates that their technology can enhance flower yield and appearance significantly, making it attractive for greenhouse growers. The company plans to leverage results to expand its market presence in the floriculture sector.

Positive

• The client has paid CAD$25,000 for the 12-month commercial feasibility study.
• CO2 Delivery Solutions™ technology can improve flower yield by up to 30% and profits by up to 100%.
• The feasibility study aims to accelerate market readiness of flowers and protect against pathogens.

Negative

• Market interest in floriculture was previously slowed due to pandemic restrictions.
• The specifics of the greenhouse's location and flower type are undisclosed, which may limit transparency.

TORONTO, ON / ACCESSWIRE / July 28, 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 US based floriculture greenhouse ("Client"). The Client has requested not to be named, nor the type of flower being grown or location of their greenhouse for competitive reasons.

The commercial feasibility will be conducted on a section of the greenhouse for approximately 12 months. The goals of the feasibility are to accelerate the growth of flowers to blooming in order to bring products to market sooner, as well as pathogen protection. Scientific research and field trials conducted by CO2 GRO as well as a flower commercial feasibility have demonstrated the benefits of CO2 Delivery Solutions™ technology to deliver significant improvements in flower appearance. The client has paid a fee of CAD$25,000 for the commercial feasibility.

GROW's VP Sales & Strategic Alliances, Aaron Archibald stated, "In our early days, floriculture greenhouses showed a lot of interest in our technology. However, the pandemic slowed that market for us as countries initially deemed floriculture as non-essential. We are now seeing more interest again from growers of high value flowers. Our scientific research, field trials and a commercial feasibility highlighted the value our technology provides to growers in an industry where speed to market is crucial. We plan to leverage those results with growers of various high value flowers such as roses, nursery liners and other areas of the floriculture industry where we can provide significant benefits to growers."

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 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 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 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, South Africa, the Middle East, South East Asia, Mexico 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.

View source version on accesswire.com:
https://www.accesswire.com/657385/CO2-GRO-Inc-Announces-a-Commercial-Feasibility-with-a-US-Floriculture-Greenhouse

FAQ

What is the significance of the commercial feasibility study for CO2 GRO Inc. on the stock symbol BLONF?

The commercial feasibility study demonstrates CO2 GRO's technology potential to enhance flower production, possibly impacting investor confidence and stock performance.

How much did the US floriculture greenhouse pay for the feasibility study related to BLONF?

The greenhouse paid CAD$25,000 for the 12-month commercial feasibility study.

What benefits does CO2 GRO's CO2 Delivery Solutions™ technology provide?

The technology can increase flower yields by up to 30% and profits by up to 100%, while also offering pathogen protection.

How long will the commercial feasibility study for BLONF take?

The study will be conducted over a period of approximately 12 months.

What challenges did CO2 GRO face in the floriculture market before this feasibility study?

The company faced slowed market interest due to pandemic restrictions, which initially deemed floriculture non-essential.