CO2 GRO Inc. Announces its First Commercial Feasibility in Israel With Marketing Partner Greenmist Ltd. at Pharmocann Global Ltd.
CO2 GRO Inc. (OTCQB:BLONF) announced a commercial feasibility project with Pharmocann Global Ltd. in Israel, leveraging its CO2 Delivery Solutions™ technology in a greenhouse setting. This project aims to enhance cannabis growth, increase bud yield, suppress powdery mildew, and reduce costs over six months. Pharmocann, with 348,000 sq. ft. of greenhouse space, seeks to maximize plant growth despite structural limitations that prevent traditional CO2 gassing. The collaboration reflects Israel's expanding cannabis market and GROW's potential in the protected agriculture sector.
- Commencement of a commercial feasibility project with Pharmocann, indicating strong market interest.
- Potential for enhanced cannabis growth and increased bud yields through innovative CO2 Delivery Solutions™.
- Low energy and CO2 use could lead to reduced production costs.
- None.
TORONTO, ON / ACCESSWIRE / April 6, 2021 / Toronto based CO2 GRO Inc. ("GROW") (TSXV:GROW, OTCQB:BLONF, Frankfurt:4021) is pleased to announce a commercial feasibility to assess CO2 Delivery Solutions™ technology with Israel based Cannabis producer Pharmocann Global Ltd. ("Pharmocann"). This commercial feasibility was sourced by GROW's Israel marketing partner Greenmist Ltd. ("Greenmist").
The commercial feasibility will be conducted in a portion of Pharmocann's greenhouse for a period of at least six months. Pharmocann has eight acres of greenhouses (348,000 sq. ft.) for growing and flowering of Cannabis plants as well as a research and development greenhouse for Cannabis strains. Since the greenhouses require continual venting, CO2 gassing is not feasible. CO2 Delivery Solutions'™ saturated CO2 misting enables open venting greenhouses to provide more carbon to their plants for enhancing growth.
The commercial feasibility's goals are to demonstrate faster growth for more harvest turns, increased bud yield for more product to sell, powdery mildew suppression to reduce crop losses, low CO2 and energy use for a lower carbon footprint and lower overall production costs per gram.
Israel's Expanding Cannabis Market
There are currently eight major licensed Cannabis cultivators in Israel including Pharmocann. In August 2019, 350 applicants responded to Israel's call for additional Cannabis cultivators. Israel is a leader in Cannabis developments due to its well-developed ecosystem of researchers, farmers, entrepreneurs, and pharma and government policies. The government's unopposed 2021 draft legalization Cannabis bill would decriminalize personal Cannabis use with public stores allowed to sell products to Israelis 21 and older (January 2021 Cannatech Legalization Review). Cannabis exports from Israel are allowed but only after local medical Cannabis demand is fulfilled for the current 80,000 medical Cannabis patients.
Pharmocann's Head of Cultivation, Asaf Shaked commented, "We are very interested to see how much additional value CO2 Delivery Solutions™ technology will create in our Cannabis operation. Until now we have not been able to utilize CO2 gas given the structure of our greenhouses. The benefits seen with other Cannabis growers in Canada makes CO2 Delivery Solutions™ a very promising and potentially valuable technology to us."
Greenmist CEO, Uzi Breier stated, "GROW's revolutionary CO2 Delivery Solutions™ technology and lack of global competition inspired us to form a new company focused on pursuing the many protected agriculture opportunities available in Israel. Aside from the Cannabis market, Israel has nearly 1.5 billion square feet of protected agriculture including tunnels, shade houses, net houses, hoop houses and greenhouses, all markets we are pursuing."
GROW's VP Sales & Strategic Alliances, Aaron Archibald commented, "Greenmist sourced the Pharmocann opportunity and will be managing the project with our remote guidance. Pharmocann is an ideal customer as they understand the benefits of additional CO2 for their plants but cannot currently gas due to their greenhouse structure. We look forward to working with Greenmist in pursuing additional opportunities in Israel both in the Cannabis market and the larger protected agriculture market."
About Pharmocann Global Ltd. (www.pharmocann.com)
Pharmocann is one of the pioneers of Israeli medical Cannabis farms. Operations began in 2008 in the valley of Jezreel, the Galilee in the north of Israel, about 350 metres above sea level. The farm extends on eight acres, offering hothouses for growth and flowering of Cannabis plants, a research and developing hothouse for Cannabis strains and all the facilities required for the cultivating, harvesting and producing the unique strains that our farm is famous for, nationwide.
Servicing a community of over 10,000 patients monthly and yielding about seven tons of medical Cannabis yearly, Pharmocann has acquired a vast knowledge and experience that enables the firm to leap forward towards becoming a major player in the international medical Cannabis market.
About Greenmist Ltd.
Greenmist was incorporated in 2020 and is headed by Uzi Breier, a former Dotz Nano Ltd. ("Dotz") Executive who worked with GROW under the GROW-Dotz Nano Ltd. Marketing Agreement. This agreement was transferred to Greenmist during 2020 as Dotz pursued a corporate realignment. Greenmist's Israel customer base includes all protected crop growers to whom GROW's technology is being marketed to. In addition to Cannabis, Israel has 1.5 billion square feet of protected agriculture facilities, most of which cannot use CO2 gassing.
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
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
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.
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FAQ
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