CO2 GRO Inc. Announces a Commercial Feasibility with Satter Orchids of the Netherlands in Conjunction with Marketing Partner Rika Biofuels

Rhea-AI Summary

CO2 GRO Inc. (BLONF) announced a second commercial feasibility project in the E.U. with Satter Orchids in the Netherlands, aimed at improving strawberry yields using its CO2 Delivery Solutions™ technology. The initial six-month trial will focus on a small section of Satter's 4-hectare greenhouse. Successful results may lead to a larger trial on strawberries and orchids. The Netherlands, a global leader in greenhouse technology, presents significant market opportunities for GROW's solutions, which reportedly increase plant revenue by up to 30% while reducing costs and CO2 usage.

Positive

• Signing of a feasibility project with Satter Orchids indicates strong demand for GROW's CO2 Delivery Solutions™ technology in the European market.
• Potential for significant revenue increase (up to 30%) for Satter Orchids through improved yields from the CO2 Delivery Solutions™.

Negative

• None.

TORONTO, ON / ACCESSWIRE / February 10, 2021 / CO2 GRO Inc. ("GROW") (TSX-V:GROW, OTCQB:BLONF, Frankfurt:4021) is pleased to announce its second commercial feasibility for its CO2 Delivery Solutions™ technology in the E.U. with Netherlands based Satter Orchids ("Satter"). GROW's UK based Marketing Partner Rika Biofuel Developments Limited ("Rika") will lead the project in their exclusive Netherlands territory.

The first commercial feasibility will be on a small portion of Satter's 4-hectare strawberry greenhouse for a term of six months with the goal of increasing berry fruit yield. Upon success, Satter will have the option of conducting a second larger 1-hectare commercial feasibility for another six months. Satter also operates a 4-hectare orchids greenhouse growing various strains of phalaenopsis. The Satter strawberry feasibility will proceed first as strawberries as they are a faster growing plant compared to orchids. Once Satter is satisfied with the benefits of CO2 Delivery Solutions™ on commercially grown strawberries, their intention is to test the technology on their commercially grown orchids, based on the impressive results announced by GROW on December 1^st 2020.

The Netherlands Greenhouse Market

Next to the US, the Netherlands is the second largest exporter of food and the largest exporter of flowers globally. According to Statista, the Netherlands flower exports exceed US$4 billion annually while second place Colombia flower exports are US$1.5 billion annually. The Netherlands is widely considered to be the world's leader in greenhouse technology and designs with over 500 million square feet of high-tech greenhouses in the country.

Andre Satter, CEO of Satter Orchids commented, "We saw GROW's announcement of faster growth in orchid plants and reached out to the company. We have decided to focus first on our strawberry production as it is a faster growing plant that can provide us with yield data quickly, versus orchids that have a much longer grow cycle. We look forward to seeing the results over the coming year with the goal of ultimately helping both our strawberry and orchid facilities increase value and reduce costs."

Gregory Krupnikovs, Director at Rika commented, "Our first feasibility in the Netherlands with Satter Orchids will showcase the power of CO2 Delivery Solutions™ to the high-tech Dutch greenhouse market. In addition, Satter which employs CO₂ gassing, should realize a significant reduction in CO₂ usage and cost as well as increased yields and pathogen suppression."

Aaron Archibald, VP Sales & Strategic Alliances commented, "We are very encouraged that Satter responded to our December 1^st 2020 news release announcing 30% accelerated flowering results on C4 orchids employing CO2 Delivery Solutions™. The current commercial feasibility being conducted on strawberries is also of interest to Satter as they grow high value strawberries for the Netherlands market. We are also very encouraged by the pace and progress Rika is setting in the EU representing our CO2 Delivery Solutions™ technology. This is their second project in two weeks and the first project in the Netherlands, one of their three exclusive countries".

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 Satter Orchids - www.satterorchids.nl

Satter Orchids began operation in 2008. The principals collectively have 30 years' experience growing plant and flowers prior to starting Satter. Satter Orchids is a highly specialized greenhouse operator. They work with the most modern growing techniques and their facilities are fully automated. Satter supplies orchids to retailers in the Netherlands and across Europe.

About CO2 GRO Inc.

GROW's proprietary CO2 Delivery Solutions™ technology is poised to revolutionize the global high value plant greenhouse industry. Its usage provides growers the opportunity to increase revenue by up to 30% and suppress the development of pathogens thereby reducing crop loss risks in an environmentally friendly and sustainable manner.

CO2 Delivery Solutions™ dissolves and saturates CO₂ gas into water creating a bubble-less aqueous CO₂ solution. When the solution is misted onto high value plants it increases revenue to greenhouse growers by up to 30% through a combination of larger plants and shorter crop grow time. The worldwide market for GROW's disruptive CO2 Delivery Solutions™ technology are the 50 billion square feet of greenhouses 85% of which cannot economically or optimally employ CO₂ gas to maximize revenue. GROW's CO2 Delivery Solutions™ technology now enables all greenhouse growers everywhere to maximize revenue easily with low systems capital costs and ease of systems installation into overhead misting systems.

GROW's management is moving quickly to capitalize on this world-wide opportunity by establishing marketing partner relationships internationally. Currently marketing partnerships are in place covering 14 countries with quickly growing interest from multiple other potential partners. In North America, GROW maintains regional sales representatives and support teams. GROW's CO2 Delivery Solutions™ is protected by a suite of patents and patent pending applications.

GROW's high value plant data developed through scientific research and commercial feasibilities with multiple potential customers has demonstrated the beneficial effects of CO2 Delivery Solutions™ technology on many high value plants including peppers, lettuce, strawberries, microgreens, kale, cannabis, hemp, roses and orchids.

GROW's CO2 Delivery Solutions™ technology is environmentally friendly, sustainable, provides for crops grown to be certified as organic and supports locally grown food minimizing the risk associated with extended global food chains.

Our organization is committed to fostering and maintaining an inclusive respectful environment providing equal opportunities at all levels to people of different genders, nationalities, and age and education background with a focus on values that align with our corporate culture.

GROW is conscious of the environment, our impact on it and also for the health and welfare of our staff, our clients, partners and stakeholders. We support the best practices for the COVID-19 pandemic and have revisited our previous procedures for sales and business development. Further, GROW's CO2 Delivery Solutions™ technology does not pose any health and safety risks to employees.

As a global organization, GROW is committed to good Environment, Social and Governance practices and we do so wherever possible to ensure we are an employer of choice and opportunity. Our mission is to accelerate the growth of all value plants safely, economically and naturally using our patented advanced CO2 Delivery Solutions™

We do well for the planet, the people we work with who benefit from our solutions and create profits for our shareholders, clients, partners and value in the long term.

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

SOURCE: CO2 GRO Inc.

View source version on accesswire.com:
https://www.accesswire.com/628885/CO2-GRO-Inc-Announces-a-Commercial-Feasibility-with-Satter-Orchids-of-the-Netherlands-in-Conjunction-with-Marketing-Partner-Rika-Biofuels

FAQ

What is the purpose of CO2 GRO's feasibility project with Satter Orchids?

The feasibility project aims to improve strawberry yields using GROW's CO2 Delivery Solutions™ technology.

How long will the initial trial with Satter Orchids last?

The initial trial will last six months on a small section of Satter's greenhouse.

What are the expected benefits from GROW's CO2 Delivery Solutions™ technology?

The technology is expected to increase yields by up to 30% and reduce CO2 usage and costs.

Where is CO2 GRO Inc. based?

CO2 GRO Inc. is based in Toronto, ON, Canada.

What stock exchange is CO2 GRO Inc. listed on?

CO2 GRO Inc. is listed on the TSX Venture Exchange under the symbol GROW and trades on the OTCQB under BLONF.