CO2 GRO Inc. Announces a Mexico Technology Trial in Conjunction with Mexico Partner Rancho Nexo

Rhea-AI Summary

CO2 GRO Inc. (OTCQB: BLONF) has announced its first project in Mexico, partnering with Rancho Nexo for a technology trial at Bresca Hortalizas' greenhouse in Puebla. The trial aims to assess yield improvements and powdery mildew suppression using CO2 Delivery Solutions™ over six months. This technology allows growers unable to use CO2 gassing to enhance plant growth by misting dissolved CO2, potentially increasing yields by up to 30% and doubling gross profits.

Positive

• First project in Mexico with Rancho Nexo.
• Trial conducted in a high-tech greenhouse expected to improve yields and suppress mildew.
• Potential for yield increases of up to 30% and doubling of gross profits for growers.

Negative

• None.

TORONTO, ON / ACCESSWIRE / April 7, 2022 / Toronto based CO2 GRO Inc. ("GROW" or the "Company") (TSXV:GROW)(OTCQB:BLONF)(Frankfurt:4021) is pleased to announce its first Mexico project with Marketing Partner Rancho Nexo. A CO2 Delivery Solutions™ system will be installed for a technology trial (formerly termed "commercial feasibility") at the Bresca Hortalizas S.P.R. de R.L. ("Bresca") 4 Ha (10 acre) new greenhouse in the State of Puebla, Mexico.

The Bresca greenhouse was built in 2019 for growing specialty cherry tomatoes. Of particular interest to Bresca in this trial is assessing yield improvement as the climate is too hot for gassing CO₂ and assessing the suppression of powdery mildew. The trial will last for at least six months on a 600M² portion of the high tech greenhouse (6,042 square feet).

According to Aaron Archibald, Vice President Sales and Strategic Alliances "We are delighted to start our first Mexico greenhouse project with our Mexico Marketing Partner Rancho Nexo. The vast majority of Mexico's 6 billion square foot protected ag facilities cannot economically use CO₂ gassing but they can use our technology to deliver CO₂ in mist form for enriching their plant growth while suppressing micro-pathogens."

Visit www.co2delivery.ca for more information on CO2 Delivery Solutions™ or watch this video.

About Rancho Nexo (www.ranchonexo.com)

Rancho Nexo, based in Guelph, Ontario, Canada and Mexico City, Mexico is dedicated to connecting the world with the power of technology by bringing together innovators and global channel partners. Rancho Nexo was founded to help innovative tech companies reach broader markets in a shorter period of time. "We represent advanced technology firms in Latin American Markets and offer their innovative solutions to companies looking to revolutionize their performance".

About CO2 GRO Inc. CO2 GRO Inc.

CO2 GRO's proprietary CO2 Delivery Solutions™ technology is revolutionizing the global estimated 800 billion square foot protected grower market. This is comprised of 600 billion square feet of fruits & vegetables (Cuesta Roble 2019), an estimated 100 billion square feet of floriculture and another estimated 100 billion square feet of crops such as medicinal plants, citrus tree seedlings and other non-food varieties.

Dedication: CO2 GRO is dedicated to enhancing plant growth and productivity sustainably, while reducing our customers' ecological footprint with a focus on People, the Planet and Prosperity.

Our Technology: CO2 Delivery Solutions™ creates a dissolved CO₂ solution that is misted onto plants grown in greenhouses and protected grower facilities globally providing growers with multiple significant benefits.

Value Proposition: Growers that cannot atmospherically enrich their facilities with CO₂ (gassing) can now realize yield increases of up to 30% and up to a doubling of gross profits, while suppressing the development of micro-pathogens such as E.coli and powdery mildew leading to healthier crops. Greenhouses and indoor facilities that currently do employ CO₂ gassing can save up to 90% on their CO₂ consumption, thereby reducing their production costs and CO₂ enrichment emissions.

Patent Protection: CO2 GRO's CO2 Delivery Solutions™ technology is protected by a suite of patents and patents pending.

Business Model: Our technology is sold to growers based on the cultivation area installed at prices that provide a high return on their investment and high margins for our shareholders.

Global Expansion: CO2 GRO's management is rapidly expanding its international marketing partner relationships into Mexico, Spain, the EU, the UK, South Africa, the Middle East, South East Asia and Latin America as well as in its US and Canadian base.

ESG: CO2 GRO is committed to good Environmental, Social and Governance (ESG) policies and practices. We are an equal opportunity employer of choice and opportunity.

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

SOURCE: CO2 Gro Inc.

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FAQ

What is CO2 GRO Inc.'s latest project in Mexico?

CO2 GRO Inc. is conducting a technology trial with Rancho Nexo at Bresca Hortalizas' greenhouse in Puebla.

What technology is being tested in the Mexico project?

The project is testing CO2 Delivery Solutions™ technology for yield improvements and mildew suppression.

How long will the CO2 delivery trial last?

The trial will last for at least six months.

What potential benefits does the CO2 technology provide?

The technology can increase yields by up to 30% and potentially double growers' gross profits.

What is the significance of this project for CO2 GRO Inc.?

This marks CO2 GRO Inc.'s first greenhouse project in Mexico, expanding its market reach.