CO2 GRO Inc. Announces the Start of a Technology Trial with Alberta Based The Cucumber Man

Rhea-AI Summary

CO2 GRO has initiated a Technology Trial for its CO2 Delivery Solutions system at The Cucumber Man's Alberta greenhouse, aimed at enhancing cucumber and soon, grape tomato production. This trial, delayed due to COVID-19, targets increased fruit yield, reduced pathogen spread, and lowered production costs. The company's VP expressed optimism about the potential for further opportunities in Alberta's robust greenhouse industry. CO2 GRO's technology could help growers achieve yield increases of up to 30% and double their gross profits while minimizing CO2 emissions.

Positive

• Initiation of a Technology Trial with The Cucumber Man increases the potential for market expansion.
• The CO2 Delivery Solutions system targets a yield increase of up to 30% and the potential to double gross profits for growers.
• Focus on reducing production costs and pathogen spread boosts overall business appeal.

Negative

• None.

TORONTO, ON / ACCESSWIRE / April 28, 2022 / Toronto based CO2 GRO Inc. ("CO2 GRO" or the "Company") (TSXV:GROW,OTCQB:BLONF, Frankfurt:4021) is pleased to announce that a CO2 Delivery Solutions™ system has been installed for a Technology Trial ("Trial") in The Cucumber Man's 522,000 square foot Alberta greenhouse. This Trial was initially announced April 8, 2021 however the startup was delayed to COVID related issues.

The Trial is being conducted on long English cucumbers and will expand to grape tomatoes shortly. The Cucumber Man had previously deployed atmospheric CO₂ enrichment using purchased liquid CO₂ but did not see the benefits especially during the warmer months from spring through fall where heat venting caused most of the CO₂to escape leaving ambient 400 ppm levels. CO2 Delivery Solutions™ offers The Cucumber Man the opportunity to provide additional CO₂ for their plants regardless of the season.

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

CO2 GRO's VP Sales & Strategic Alliances, Aaron Archibald commented, "We are excited to be underway with our first greenhouse Trial in the province of Alberta. This is an important Trial as we will be running two Trials more or less at the same time applying CO₂ to cucumbers first then shortly afterwards to grape tomatoes. Alberta is home to a robust vegetable greenhouse industry. We expect that success with The Cucumber Man will lead to additional opportunities in Alberta".

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

About 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 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 Investor Relations at 604-317-6197 or michael.oconnor@co2gro.ca.

SOURCE: CO2 Gro Inc.

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FAQ

What is the purpose of CO2 GRO's Technology Trial with The Cucumber Man?

The Technology Trial aims to increase cucumber yield, reduce pathogen spread, and lower production costs.

What are the expected benefits of CO2 Delivery Solutions for growers?

Growers can expect up to a 30% increase in yield and potentially double their gross profits.

When was the Technology Trial for CO2 Delivery Solutions announced?

The trial was initially announced on April 8, 2021, but was delayed due to COVID-related issues.

What greenhouse crops are being tested in the CO2 GRO trial?

The trial is currently focused on long English cucumbers and will soon expand to grape tomatoes.

How does CO2 Delivery Solutions help with greenhouse emissions?

The technology minimizes CO2 emissions while allowing for efficient cultivation, potentially saving growers up to 90% on CO2 consumption.