CO2 GRO Inc. Announces the Commissioning of a Technology Trial at an EU Grower Operating 100 Million Square Feet of Cultivation Space
CO2 GRO Inc. (OTCQB: BLONF) announced the commissioning of a Technology Trial at a 100 million square feet EU greenhouse. This project, initially referred to as a Commercial Feasibility, is expected to last one year. The trial aims to demonstrate the efficacy of CO2 GRO's innovative CO2 Delivery Solutions™ technology, which could enhance crop yields by up to 30% and potentially double gross profits. The company's technology is designed to reduce CO2 consumption costs by 90% for facilities currently using CO2 gassing, while improving plant health.
- Technology Trial commissioned at a large EU grower's facility, enhancing potential for commercial uptake.
- Up to 30% increase in crop yields and potential doubling of gross profits for growers using the technology.
- CO2 reduction in facilities currently employing CO2 gassing could reach up to 90%, lowering production costs.
- None.
TORONTO, ON / ACCESSWIRE / March 8, 2022 / Toronto based CO2 GRO Inc. ("CO2 GRO" or the "Company") (TSXV:GROW)(OTCQB:BLONF)(FRA:4021) is pleased to announce the commissioning of a Technology Trial at an EU grower's R&D greenhouse facility. The grower operates 100 million square feet of greenhouse cultivation space. The announcement of the Technology Trial (formerly referred to as a Commercial Feasibility) with this customer was issued on September 2, 2021.
Aaron Archibald, VP Sales & Strategic Alliances commented, "Given the size of the customer's commercial greenhouse facilities of 100 million square feet and the importance of a successful Technology Trial, we had one of our project management team visit the customer in order to successfully commission the project. The Technology Trial will operate for one year. We look forward to a successful outcome leading to a Commercial Technology Purchase."
Visit www.co2delivery.ca for more information on CO2 Delivery Solutions™.
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
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.
ESG: CO2 GRO is committed to good Environmental, Social and Governance (ESG) policies and practices. We are an equal opportunity employer of choice.
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.
View source version on accesswire.com:
https://www.accesswire.com/692003/CO2-GRO-Inc-Announces-the-Commissioning-of-a-Technology-Trial-at-an-EU-Grower-Operating-100-Million-Square-Feet-of-Cultivation-Space
FAQ
What is the Technology Trial announced by CO2 GRO Inc. on March 8, 2022?
What are the expected benefits of CO2 GRO's technology for growers?
How long will the Technology Trial run?
What potential savings can greenhouse growers achieve by using CO2 GRO's technology?
What company ticker symbol represents CO2 GRO Inc.?
