CO2 GRO Inc. Announces the Commencement of the Previously Announced Colombia Rose Commercial Feasibility

Rhea-AI Summary

CO2 GRO Inc. (OTCQB: BLONF) has commenced its CO2 Delivery Solutions™ system at a Colombian rose greenhouse, following delays due to logistics and COVID-19. The feasibility study aims to assess benefits such as increased flower production and pathogen protection over one year. Colombia's flower export market reached $1.42B in 2020, with roses leading production. The company's technology can potentially enhance yields by up to 30%, presenting significant opportunities in the lucrative Colombian market. The partnership with a global gas supplier is expected to bolster CO2 GRO's market reach.

Positive

• Commencement of commercial feasibility in the Colombian rose market.
• Potential to increase flower yields by up to 30%.
• Partnership with a leading global industrial gas supplier enhances market presence.
• Addressing a high-value market for flower production.

Negative

• Previous delays due to logistics and COVID-19 could indicate risks in project execution.

TORONTO, ON / ACCESSWIRE / December 9, 2021 / Toronto-based CO2 GRO Inc. ("CO2 GRO")(TSXV:GROW)(OTCQB:BLONF)(Frankfurt:4021) is pleased to announce that a CO2 Delivery Solutions™ system is now operating at the Colombia rose greenhouse commercial feasibility, previously announced on June 24^th, 2020. A leading global industrial CO₂ gas supplier ("Gas Supplier") introduced the customer and is assisting in the management and execution of the project. The Gas Supplier requested the name and location of the grower facility remain confidential at this time.

The commercial feasibility was postponed due to significant delays in logistics for the CO2 Delivery Solutions™ system components followed by unavoidable COVID-19 related matters. In addition, the customer requested the start of the commercial feasibility coincide with the beginning of their main growing season to better evaluate the technology's benefits on roses.

The grower's operates several hectares (several hundreds of thousand square feet) of rose greenhouses. The main benefits being evaluated include faster time to flowering, greater flower bud production, increased stem length and the Pathogen Perimeter Protection™ benefit to suppress micro-pathogens. The commercial feasibility will be conducted for one year.

The Colombian Flower Market

According to a Statista update for 2020, 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 the second largest exporter globally next to the Netherlands. Most export-targeted flowers from Colombia are grown in simple hoop houses and shade houses which typically do not employ atmospheric CO₂ enrichment to enhance production, making CO2 Delivery Solutions™ a viable alternative.

Aaron Archibald, VP Sales and Strategic Initiatives commented "We are pleased to be announcing the start of the commercial feasibility in collaboration with the grower and the leading global industrial gas supplier that operates in dozens of countries. The Colombian rose market is another high value market where our CO2 Delivery Solutions™ technology can help growers increase production and profitability in a sustainable way. We are making good progress expanding into new high value plant markets and countries. Building strategic relationships with companies such as the global industrial gas supplier will help us expand our domestic and international reach to accelerate sales."

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.

CO2 GRO's proprietary CO2 Delivery Solutions™ technology is revolutionizing the global 600 billion square foot protected agriculture industry (Cuesta Roble 2019). We create a dissolved 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 dissolved CO₂ also suppressed the development of pathogens such as E.coli and powdery mildew, helping to reduce crop losses. CO2 GRO's CO2 Delivery Solutions™ is protected by a suite of patents and patents pending.

The worldwide market for CO2 GRO'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.

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 North American base.

CO2 GRO 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, and Investor Relations at 604-317-6197 or michael.oconnor@co2gro.ca.

SOURCE: CO2 Gro Inc.

View source version on accesswire.com:
https://www.accesswire.com/676791/CO2-GRO-Inc-Announces-the-Commencement-of-the-Previously-Announced-Colombia-Rose-Commercial-Feasibility

FAQ

What is the significance of the CO2 Delivery Solutions™ system for CO2 GRO Inc.?

The CO2 Delivery Solutions™ system is crucial for assessing its impact on flower production in Colombia, potentially enhancing yields and profitability.

When did CO2 GRO Inc. announce the commencement of its Colombian rose greenhouse feasibility?

CO2 GRO Inc. announced the start of the feasibility study on December 9, 2021.

How much did Colombia export in flowers in 2020?

Colombia exported $1.42 billion in flowers in 2020, with roses being a significant part of that figure.

What are the benefits being evaluated in the Colombian rose greenhouse project?

Benefits include faster flowering times, increased flower bud production, longer stems, and pathogen protection.

What is the stock symbol for CO2 GRO Inc.?

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