CO2 GRO Inc. Shares Positive Data from the First Colombia Rose Trial

Rhea-AI Summary

CO2 GRO Inc. (OTCQB: BLONF) reported a successful trial of its CO2 Delivery Solutions™ technology in a Colombian rose greenhouse, initiated in December 2021. The trial yielded an 8% overall increase in rose production, with high-grade roses achieving a 21% increase. Additionally, the technology contributed to a 75% reduction in powdery mildew spread. The trial will continue through 2022, with expectations of enhanced results in subsequent phases.

Positive

• 8% overall increase in rose production.
• 21% increase in high-grade rose production.
• 75% reduction in powdery mildew spread.

Negative

• None.

TORONTO, ON / ACCESSWIERE / June 13, 2020 / Toronto based CO2 GRO Inc. ("CO2 GRO") (TSXV:GROW)(OTCQB:BLONF)(Frankfurt:4021) is excited to share the results of the CO2 Delivery Solutions™ trial deployed at a Colombia rose greenhouse commercial facility that commenced in December 2021.

The first Colombia rose trial is spearheaded by a leading global industrial CO2 gas supplier ("Gas Supplier") whose identity remains confidential at this time along with the name and location of the rose grower facility.

CO2 GRO is proud to share that in the four months that the study initially ran for, a total rose production increase of 8% has been observed. More importantly, high-grade high value roses realized a 21% production increase. High-grade roses are over 55 cm in stem length and have 6 cm wide flower buds.

Further, treated rows of rose plants in the greenhouse facility also saw a 75% reduction in powdery mildew spread compared to the control group.

The trial is set to continue until the end of 2022.

"The trial has proved that our value proposition goes beyond simply increasing plant yields. Our CO2 Delivery Solutions technology helped increase the percentage of high-grade high value roses also. Our technology could benefit protected growers of other types of flowers, fruits, vegetables and other plants such as medicinal, to realizer greater value for a higher percentage of high-quality plants grown - enabling higher gross margins," said Aaron Archibald, VP Sales and Strategic Initiatives.

"We expect results from the second phase of this rose trial to improve with refined protocols. We also look forward to replicating these initial results at our second Colombian rose trial and a first Ecuador rose trial that we expect to commence soon."

About CO2 GRO Inc.

CO2 GRO Inc. is a People, Planet, and Prosperity-focused precision ag-tech, clean-tech company.

We are on a mission to transform 600-billion sq. ft. of protected fruit & vegetable growth facilities so they can increase yield by 30% and feed half a billion more people around the world.

Our proprietary technology mists an aqueous CO₂ solution directly onto plants in protected growth facilities. This enriches crops with CO₂ , suppresses the growth of micro-pathogens, and increases high-yield, high-quality varieties of produce. Because our CO₂ Delivery Solutions™ technology replaces atmospheric gassing, growers can lower their CO₂ gas consumption by over 90%, reduce their ecological footprint, and lower production costs.

We support the protected food crop community in all seven continents and also work with floriculturists and growers of medicinal & non-food varieties of plants.

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 Sourmik Roy, Sugar Beach Media Corp. at 647-502-5006 or roy@co2gro.ca

SOURCE: CO2 Gro Inc.

View source version on accesswire.com:
https://www.accesswire.com/705836/CO2-GRO-Inc-Shares-Positive-Data-from-the-First-Colombia-Rose-Trial

FAQ

What are the results of the CO2 GRO rose trial in Colombia?

The CO2 GRO rose trial in Colombia reported an 8% increase in overall rose production and a 21% increase in high-grade roses.

What is the stock symbol for CO2 GRO?

The stock symbol for CO2 GRO is BLONF.

When did the CO2 GRO rose trial start?

The CO2 GRO rose trial began in December 2021.

What technology did CO2 GRO use in the Colombian rose trial?

CO2 GRO utilized its CO2 Delivery Solutions™ technology in the Colombian rose trial.

How much did the powdery mildew spread reduce in the trial?

The trial saw a 75% reduction in powdery mildew spread compared to the control group.