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CO2 Gro Inc. was a Canadian agricultural technology company that developed aqueous carbon dioxide enrichment systems for greenhouse operations before suspending business activities. The company specialized in technology that dissolved CO2 gas into water for direct application to plant leaves, enabling photosynthetic enrichment in vented greenhouse facilities.
The company's technology addressed limitations in traditional atmospheric CO2 gassing, which loses effectiveness in greenhouses requiring ventilation for temperature control. By applying dissolved CO2 directly to leaf surfaces through misting systems, the technology made CO2 enrichment practical for the majority of global greenhouse operations that utilize open-venting designs. Trials demonstrated yield increases ranging from 20% to 38% across various crops including peppers, tomatoes, lettuce, roses, and other horticultural products.
CO2 Gro operated through a technology licensing and systems sales model, working with greenhouse growers in North America, South America, and other regions. The company conducted technology adaptation projects with operations growing vegetables, flowers, leafy greens, and specialty crops. The aqueous enrichment approach used substantially less CO2 gas than traditional atmospheric methods while achieving comparable or superior crop performance results.
Despite technical validation through multiple commercial installations and successful trials, the company faced financial difficulties and was unable to secure additional capital. The inability to obtain debt or equity financing led to suspension of operations, resignation of the board and executive leadership, and implementation of a cease trade order. The company sought parties interested in acquiring its assets or assuming control of operations.
Corporate actions included delays in financial reporting, leadership transitions, and ultimately complete suspension of business activities. The company's experience illustrated challenges in commercializing agricultural technology innovations even when technical performance has been demonstrated through field trials and early commercial deployments.
CO2 GRO Inc. (OTCQB:BLONF) has announced a commercial feasibility project with South Africa’s Mountainview Nursery to utilize its CO2 Delivery Solutions™ technology. The project aims to assess the impact of CO2 on the growth of macadamia tree seedlings. With a focus on enhancing root development, this partnership could potentially open new markets for CO2 GRO's technology, which has shown to increase revenue by up to 30% for growers. The macadamia market in South Africa is expanding rapidly, highlighting the importance of this initiative.
CO2 GRO Inc. (OTCQB: BLONF) announced a significant sale of its CO2 Delivery Solutions™ system to a Canadian Cannabis Licensed Producer for a facility of approximately 20,000 square feet. This installation will enhance cannabis yields through faster plant growth and increased bud yield while reducing CO2 and energy usage. The technology promises up to a 30% revenue increase for growers, driven by cost efficiency and pathogen suppression. GROW is actively expanding its partnerships, with current marketing efforts in 14 countries, positioning the company for improved profitability in a competitive market.
CO2 GRO Inc. (OTCQB:BLONF) updates its participation in the Canadian Ag Tech Program in Mexico, initiated on January 7, 2021. The program includes expert meetings that facilitate understanding Mexico's vast agricultural landscape. GROW's technology, CO2 Delivery Solutions™, enhances greenhouse productivity by up to 30%. The potential of the Mexican protected ag market, estimated at 4 billion sq. ft., is a key focus for GROW's growth strategy. The company is building significant partnerships in the ag-tech sector both in Mexico and internationally.
CO2 GRO Inc. (OTCQB:BLONF) has successfully raised $700,000 through the exercise of 1,081,161 options and 3,850,000 warrants, resulting in the issuance of 4,931,161 common shares. The funds will enhance business development, bolster Ag Industrial partnerships, and support ongoing R&D projects. CEO John Archibald emphasized that this exercise showcases shareholder confidence in the company's growth strategy. GROW's proprietary CO2 Delivery Solutions™ technology promises up to 30% revenue growth for greenhouse growers, addressing sustainability and food security needs.
CO2 GRO Inc. (BLONF) announced a second commercial feasibility project in the E.U. with Satter Orchids in the Netherlands, aimed at improving strawberry yields using its CO2 Delivery Solutions™ technology. The initial six-month trial will focus on a small section of Satter's 4-hectare greenhouse. Successful results may lead to a larger trial on strawberries and orchids. The Netherlands, a global leader in greenhouse technology, presents significant market opportunities for GROW's solutions, which reportedly increase plant revenue by up to 30% while reducing costs and CO2 usage.
CO2 GRO Inc. (OTCQB: BLONF) reported accelerated flowering in orchids using its CO2 Delivery Solutions™. Initial trials, conducted at St. Cloud State University, revealed that orchids receiving CO2 supplementation bloomed three months faster than those in standard conditions. Orchids represent 10% of the global flower market, with Netherlands leading at 40%. GROW's technology, which enhances crop yields by up to 30%, is ideal for growers unable to use traditional CO2 gassing due to heat constraints. CEO John Archibald views this as a potential vertical for growth, enhancing value for growers and shareholders.
CO2 GRO Inc. (TSX-V:GROW, OTCQB:BLONF) reports a successful sale of its CO2 Delivery Solutions™ system to a British Columbia-based medical cannabis cultivator. This marks the second commercial installation based on data from its GROW plant science research. The system aims to enhance cannabis yields by up to 30% while providing significant cost savings on CO2. The company is well-positioned to capitalize on the growing trend of smaller cultivators, with 106 micro-cultivation licenses currently in Canada. The technology also offers pathogen protection, enhancing overall plant health.
CO2 GRO Inc. (OTCQB: BLONF) has announced significant updates for Q3 2020, including six signed Commercial Feasibilities that may lead to sales across multiple facilities. Key achievements include a successful financing round raising $1.38 million and an exclusive agreement with Rika Biofuel Developments to market CO2 Delivery Solutions™ in the UK, Netherlands, and Belgium. The company is focused on expanding its market presence with diverse projects across various countries and crops. The outlook remains positive with increasing demand for protected farming technologies.
CO2 GRO Inc. (OTCQB: BLONF) announced the results of its Annual General Meeting held on September 29, 2020. Shareholders overwhelmingly approved all agenda items, including the election of director nominees. Key votes included 99.78% in favor of Michael Boyd, 99.98% for John Archibald, and 99.95% for Tom Wiltrout. The appointment of auditors received 99.82% approval, and the stock option plan was backed by 99.73%. Additionally, the creation of a new control person, Ospraie, was approved with 99.98% support. This demonstrates robust shareholder confidence in the company's leadership and future direction.
CO2 GRO Inc. (OTCQB: BLONF) has signed an exclusive Marketing Agreement with Rika Biofuel Developments Limited to promote its CO2 Delivery Solutions™ in the UK, Netherlands, and Belgium greenhouse markets. Rika will manage marketing, sales, installation, and customer service while maintaining a one-year exclusivity based on sales targets. This territory encompasses nearly 800 million square feet of greenhouse space, with significant revenue potential from greenhouse crops. CO2 GRO aims to enhance crop yields by up to 30% using its innovative aqueous systems.
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