CO2 GRO Inc. Announces another Commercial Feasibility with a Significant Canadian Cannabis Licensed Producer

Rhea-AI Summary

CO2 GRO Inc. (OTCQB: BLONF) initiated a CO2 Delivery Solutions commercial feasibility project with a significant Canadian cannabis licensed producer. This year-long feasibility aims to enhance production and revenue while lowering cannabis production costs. The LP currently uses CO₂ from bulk tanks but faces challenges in raising CO₂ levels during warmer months. CO2 Delivery Solutions is expected to improve yields and decrease CO₂ usage, aligning with the LP's goal of reducing its ecological footprint. The technology has documented benefits, including increased yields and pathogen suppression.

Positive

• Initiating a commercial feasibility project with a significant cannabis licensed producer could enhance market presence.
• Potential for increased production and revenue while reducing production costs.
• CO2 Delivery Solutions technology documented to improve yields by up to 30% and profits by up to 100%.
• Alignment with ecological sustainability goals may attract environmentally conscious investors.

Negative

• Dependence on a single LP for business development could pose risks if the partnership falters.
• Potential fluctuations in CO2 prices could impact profitability and operational costs.

TORONTO, ON / ACCESSWIRE / August 9, 2021 / Toronto based CO2 GRO Inc. ("GROW") (TSXV:GROW)(OTCQB:BLONF)(Frankfurt:4021) is pleased to announce the commencement of a CO2 Delivery Solutions™ commercial feasibility at a significant Canadian Cannabis Licensed Producer ("the LP").

The feasibility will run for up to one year with an option to expand a commercial installation for the entire production area of the facility at the conclusion of the feasibility or sooner. The objectives of the feasibility are to increase production and revenue while reducing the cost per gram of Cannabis produced at the facility.

The LP currently employs atmospheric CO₂ enrichment year-round through purchased CO₂ bulk tanks. However, during the warmer months from spring through fall, the facility requires heat venting which makes increasing CO₂ levels in the grow areas above ambient conditions very difficult. By employing CO2 Delivery Solutions™, more CO₂ can be delivered to the plant despite heat venting, resulting in not only increased plants yields but also a significant reduction in CO₂ gas use and the facility's ecological footprint.

Aaron Archibald VP, Sales and Strategic Alliances commented, "The LP is focused on reducing their ecological footprint as well as increasing production and profitability. Our CO2 Delivery Solutions™ technology's ability to deliver significant improvements in yields, reduced cycle times and suppression of pathogens is well documented and increasingly well known in the Canadian Cannabis industry. We have long maintained our CO2 Delivery Solutions™ technology can produce significant reductions in CO₂ use and expenses in addition to reducing the ecological footprint of a grower. We look forward to a successful feasibility and hopefully a commercial installation 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.

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). Grower's 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, Mexico, South Africa, the Middle East, South East Asia 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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FAQ

What is the purpose of CO2 GRO's commercial feasibility with the cannabis producer?

The project aims to enhance cannabis production and revenue while reducing production costs through improved CO2 management.

How long will CO2 GRO's feasibility study last?

The feasibility study is set to last for up to one year.

What are the expected benefits of CO2 Delivery Solutions during the feasibility?

Expected benefits include increased plant yields, reduced CO2 gas usage, and a smaller ecological footprint.

What is the significance of CO2 GRO's technology in the cannabis industry?

CO2 GRO's technology can increase yields by up to 30% and profits by up to 100%, providing a competitive edge in the cannabis market.

How does CO2 Delivery Solutions contribute to environmental sustainability?

The technology reduces CO2 consumption and minimizes the ecological footprint of cannabis production, aligning with sustainability goals.