CO2 GRO Inc. Announces Phase Two of the Technology Trial with Alberta Based The Cucumber Man

Rhea-AI Summary

CO2 GRO Inc. (OTCQB:BLONF) announced the operational launch of phase two of its CO2 Delivery Solutions™ system at The Cucumber Man's Alberta greenhouse, focusing on grape tomatoes. This follows the earlier phase for long English cucumbers. The trial aims to boost yields, combat pathogens like powdery mildew, and lower production costs, potentially improving financial returns for growers. With Alberta's greenhouse industry expanding, CO2 GRO anticipates further opportunities in this market.

Positive

• Operational launch of phase two CO2 Delivery Solutions in Alberta greenhouse.
• Trial aims to increase yields and reduce costs for grape tomatoes and cucumbers.
• Potential for improved pathogen control, enhancing crop health.

Negative

• None.

TORONTO, ON / ACCESSWIRE / May 17, 2022 / Toronto based CO2 GRO Inc. ("GROW" or the "Company") (TSXV:GROW, OTCQB:BLONF, Frankfurt:4021) is pleased to announce that the second phase of a CO2 Delivery Solutions™ system has been installed for a grape tomato Technology Trial ("Trial") in The Cucumber Man's 522,000 square foot Alberta greenhouse.

Part two of this larger Trial is now operational on grape tomatoes with part one being announced as operational on April 28, 2022 for long English cucumbers.

The Trial's goals are to increase both grape tomato and long cucumber fruit yield, reduce the spread of pathogens such as powdery mildew, which is often problematic for tomato as well as cucumber growers, and reduce the overall cost per unit of production thereby increasing overall margins.

According to Greenhouse Canada, "as of 2019, Alberta's greenhouse crops industry was estimated to be 404 acres, 164 hectares, or 17.62 million square feet. Vegetables accounted for about 46% of the total greenhouse area, or 187 acres, followed by floriculture at 42%, or 170 acres, and tree seedlings at 12%, or 48 acres."

CO2 GRO's VP Sales & Strategic Alliances, Aaron Archibald commented, "Having a Trial on two distinct vegetables under one roof is a first for us as well as being in Alberta which now has over 200 greenhouses. It will provide The Cucumber Man with further demonstration of CO2 Delivery Solutions™ ability to improve yields and financial returns to growers and additional data for CO2 GRO. We look forward to the Trial's success that will lead to further greenhouse opportunities in Alberta and Western Canada".

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

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.

Environmental Social and Governance; 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 CO2 Gro Inc. 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 the significance of phase two for CO2 GRO's technology trial?

Phase two aims to enhance the performance of CO2 Delivery Solutions on grape tomatoes, following successful implementation for cucumbers.

How does CO2 GRO's technology impact crop yields?

The CO2 Delivery Solutions can increase yields by up to 30% while also reducing pathogen issues and production costs.

What are the goals of CO2 GRO's trial at The Cucumber Man?

The trial seeks to increase fruit yield, reduce pathogen spread, and lower production costs for greenhouse growers.

What is the potential market impact of CO2 GRO's technology advancements?

The advancements may open further opportunities in Alberta's growing greenhouse market, which includes over 200 greenhouses.

What is the stock symbol for CO2 GRO?

The stock symbol for CO2 GRO on the OTCQB is BLONF.