CO2 GRO Inc. Announces the Start of a Technology Trial with a Canada based Cucumber Greenhouse

Rhea-AI Summary

CO2 GRO Inc. (OTCQB:BLONF) has initiated a technology trial at a Canadian cucumber greenhouse to showcase the benefits of its CO2 Delivery Solutions™. The objectives include increasing cucumber yield, minimizing pathogen spread, reducing CO₂ usage, and lowering production costs to enhance grower profits. This trial aligns with CO2 GRO's goal to penetrate the large greenhouse vegetable market, contributing to its revenue growth. The company highlights its commitment to sustainable agricultural practices while aiming for significant market expansion.

Positive

• Initiated a trial to demonstrate technology benefits for cucumber yield and pathogen reduction.
• Potential to increase grower margins by reducing production costs and CO₂ usage.
• Focus on greenhouse sector aligns with company growth strategy and market demand.

Negative

• None.

TORONTO, ON / ACCESSWIRE / May 19, 2022 / Toronto based CO2 GRO Inc. ("GROW" or the "Company") (TSXV:GROW, OTCQB:BLONF, Frankfurt:4021) is pleased to announce another CO2 Delivery Solutions™ Technology Trial ("Trial") in a Canadian cucumber greenhouse. The grower required confidentiality as to greenhouse size, location and name.

The Trial's goals are to demonstrate CO2 Delivery Solutions™ benefits to increase cucumber fruit yield, reduce the spread of pathogens such as powdery mildew, reduce CO₂ usage and reduce the overall cost per unit of production, thereby increasing overall grower margins.

According to Greenhouse Canada, "in 2019, there were a total of 838 commercial greenhouse vegetable operations with 17.6 million square metres of production area which produced nearly 664,450 metric tons of vegetables. Tomatoes accounted for 37% of the total greenhouse vegetable sales, followed by cucumbers (31%) and peppers (28%). The acreage has increased 21% over the last five years and 48% over the last decade. Ontario continued to lead the greenhouse vegetable sector in 2019, representing 69% of the total production in Canada, followed by British Columbia and Quebec, with 18% and 6% respectively."

CO2 GRO's VP Sales & Strategic Alliances, Aaron Archibald commented, "Our plant mix in 2022 YTD Trials has favored traditional high volume vegetable growers in North America and the EU as well as high value flower growers in Colombia and Ecuador. We are now gaining traction with greenhouse vegetable and flower growers who typically operate much larger facilities than our Canadian Cannabis customers. The greenhouse vegetable and flower market offers us the largest opportunity to demonstrate the benefits of our technology and commercial revenue for the Company. The results of the Trials should enable us to accelerate our commercial revenue growth. "

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.

Environment, 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 CO2 GRO's recent technology trial in cucumber greenhouses about?

CO2 GRO has launched a technology trial to enhance cucumber yield and reduce production costs using its CO2 Delivery Solutions™.

What are the expected benefits of CO2 GRO's technology trial?

The trial aims to increase cucumber fruit yield, lower CO2 usage, reduce pathogen spread, and improve grower profits.

How does the cucumber greenhouse trial impact CO2 GRO's business?

The trial is part of CO2 GRO's strategy to drive commercial revenue growth in the substantial greenhouse market.

What is the significance of CO2 GRO's technology in the agricultural sector?

CO2 GRO's technology could yield up to 30% increase in production and significant savings on CO2 consumption, promoting sustainable practices.