CO2 GRO Inc. Announces a US$30,000 Sale to an Arizona Greenhouse Grower

Rhea-AI Summary

CO2 GRO Inc. (OTCQB:BLONF) has successfully sold its CO2 Delivery Solutions™ technology for US$30,000 to a greenhouse grower in Arizona, representing 10% of the grower’s total greenhouse capacity. The payment structure involves an initial order payment, with the balance due post-harvest. This marks GROW's first sale in Arizona, highlighting potential for significant revenue growth as the technology could be expanded to the remaining greenhouse space. The company focuses on addressing CO₂ shortages due to year-round heat venting in Arizona's greenhouses, aiming to enhance plant yields by up to 30%.

Positive

• Secured a US$30,000 sale of CO2 Delivery Solutions™ technology.
• First sale in Arizona, signaling market expansion opportunities.
• Potential to expand technology deployment to 90% of the client's greenhouse capacity.

Negative

• None.

TORONTO, ON / ACCESSWIRE / September 29, 2021 / Toronto based CO2 GRO Inc. ("GROW") (TSXV:GROW)(OTCQB:BLONF)(Frankfurt:4021) is pleased to announce a US$30,000 sale of its CO2 Delivery Solutions™ technology to an Arizona greenhouse grower. Commercial terms include a payment on order with the balance due upon the completion of the first harvest. The client has requested their name, crop grown and greenhouse footprint to be kept confidential for competitive reasons.

The sale is for ten percent of the grower's total greenhouse capacity. GROW anticipates that its CO2 Delivery Solutions™ technology will be expanded over time to the grower's entire greenhouse footprint based on the performance of the technology in the initial section.

GROW previously announced a feasibility on August 19^th, 2021 with another Arizona greenhouse. Arizona has the second largest US greenhouse footprint after California with close to 15 million square feet of vegetable greenhouses. Nearly all of Arizona's greenhouses have to manage the same problem of close to year-round heat venting. This venting results in a chronic lack of sufficient CO₂ levels to augment the excellent year-round sunlight available. The necessity of year-round heat venting in Arizona makes it virtually impossible to enhance plant production by up to 30%, which can be achieved in greenhouses located in temperate climates that have the ability to increase CO₂ levels in the grow rooms above ambient conditions for at least half the year.

Aaron Archibald, GROW's VP Sales & Strategic Alliances commented, "This is yet another direct Commercial Installation sale, and the first in the state of Arizona. With only ten percent of the client's total greenhouse footprint installed, this presents a significant opportunity to expand the deployment of our CO2 Delivery Solutions™ technology to the client's remaining ninety percent greenhouse capacity which could provide significant revenue. We look forward to working with the client, and adding more direct to Commercial Installation sales in the near future."

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. (CO2 GRO Inc.)

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, 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.

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https://www.accesswire.com/666094/CO2-GRO-Inc-Announces-a-US30000-Sale-to-an-Arizona-Greenhouse-Grower

FAQ

What was the recent sale reported by CO2 GRO Inc. (BLONF)?

CO2 GRO Inc. announced a US$30,000 sale of its CO2 Delivery Solutions™ technology to an Arizona greenhouse grower.

How much of the greenhouse capacity is CO2 GRO's technology being applied to?

The technology is initially being applied to 10% of the grower's total greenhouse capacity.

What potential benefits does CO2 Delivery Solutions™ technology provide?

The technology can enhance plant yields by up to 30% and profits by up to 100% by addressing CO2 shortages.

When was the sale to the Arizona greenhouse grower announced?

The sale was announced on September 29, 2021.

What challenges do Arizona greenhouses face regarding CO2 levels?

Arizona greenhouses struggle with year-round heat venting, leading to insufficient CO2 levels for optimal plant growth.