CO2 GRO Inc. Announces a Second Rose Greenhouse Technology Trial in Colombia

Rhea-AI Summary

CO2 GRO Inc. (OTCQB: BLONF) has announced a second trial of its CO2 Delivery Solutions™ technology for rose production in Colombia, aimed at enhancing flower yields and quality over a one-year period. The trial is significant in the Colombian flower market where $1.42 billion worth of flowers were exported in 2020. The technology offers a viable option for low-tech greenhouses, promising yield increases of up to 30% and doubling gross profits while reducing production costs. The company is expanding its reach in Latin America.

Positive

• Second trial of CO2 Delivery Solutions™ technology in Colombia aimed at boosting flower yields.
• Potential yield increases of up to 30% and doubling of gross profits.
• Significant opportunity in the Colombian flower market, exporting $1.42B in flowers in 2020.
• Expansion discussions with rose growers in Colombia and cannabis producers.

Negative

• None.

TORONTO, ON / ACCESSWIRE / March 15, 2022 / Toronto based CO2 GRO Inc. ("GROW" or the "Company") (TSXV:GROW, OTCQB:BLONF, Frankfurt: 4021) is pleased to announce a second rose greenhouse CO2 Delivery Solutions™ Technology Trial ("trial") in Colombia. The grower, who has requested anonymity, operates 2.14 million square feet (20 Ha) of greenhouse capacity.

The trial will last for up to one year. The goals of the trial are faster flowering, greater flower production and Pathogen Perimeter Protection™. According to studies conducted by Enoch et al., 1970; Hanan, 1973; Mortensen and Moe, 1983 on atmospheric CO₂ enrichment in rose greenhouses,increased yields of 16% to 60% over those grown in a non-enriched atmosphere were observed.

The Colombian Flower Market

According to a 2020 Statista update, Colombia exported $1.42B of flowers in 2020 of which $1.2B was to the U.S., Canada and Mexico. Colombia's flower production is led by roses (22.6%) and carnations (14.6%). Colombia is the largest exporter of roses and other flowers to the U.S. and number two globally next to the Netherlands.

Atmospheric CO₂ enrichment (gassing) to enhance rose production is not widely used in Colombia due to year-round heat venting and relatively low-tech greenhouse and other protected grow facilities. CO2 GRO's CO2 Delivery Solutions™ is a viable alternative for Colombian rose growers to enrich their plants with CO₂ despite low-tech facilities and venting, in order to achieve increased yields, plant quality, revenue and profits.

According to Aaron Archibald, VP Sales and Strategic Alliances, "We are gaining further traction in Colombia in addition to neighboring countries such as Ecuador and Peru. These countries flower and berry growers are major global exporters that see the potential value of our technology for enriching their plants with CO₂ and the resulting increases in yields and returns. We are also initiating discussions with licensed Cannabis producers in Colombia who operate under the country's Cannabis laws."

Visit www.co2delivery.ca for more information on CO2 Delivery Solutions™.

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 trial in Colombia about?

CO2 GRO Inc. is conducting a second trial of its CO2 Delivery Solutions™ technology to enhance rose production in Colombia, targeting increased yields and flower quality.

How much did Colombia export in flowers in 2020?

Colombia exported $1.42 billion in flowers in 2020, with $1.2 billion going to the U.S., Canada, and Mexico.

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

The technology could lead to yield increases of up to 30% and the potential to double gross profits for growers.

What is the duration of the CO2 GRO trial in Colombia?

The trial will last for up to one year.

What is the stock symbol for CO2 GRO Inc.?

The stock symbol for CO2 GRO Inc. is BLONF (OTCQB).