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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 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.
CO2 GRO Inc. (OTCQB: BLONF) announces its participation in the GreenTech Americas Conference in Queretaro, Mexico, from April 27-29, 2022. The company will showcase its proprietary CO2 Delivery Solutions™ technology, aimed at enhancing horticultural productivity. The partnership with Rancho Nexo aims to facilitate technology trials for growers. This event provides significant exposure in Mexico's $6 billion protected agriculture market, with CO2 GRO continuing to expand its international presence.
CO2 GRO Inc. (OTCQB: BLONF) has announced its first project in Mexico, partnering with Rancho Nexo for a technology trial at Bresca Hortalizas' greenhouse in Puebla. The trial aims to assess yield improvements and powdery mildew suppression using CO2 Delivery Solutions™ over six months. This technology allows growers unable to use CO2 gassing to enhance plant growth by misting dissolved CO2, potentially increasing yields by up to 30% and doubling gross profits.
CO2 GRO Inc. (OTCQB: BLONF) has announced a year-long technology trial for its CO2 Delivery Solutions™ at an unnamed rose greenhouse in Ecuador. This trial will focus on the economic benefits of increased CO2 levels, which could improve plant growth and health, and result in rose yield increases of 16% to 60%, as per historical studies. Ecuador is known as the third-largest flower exporter globally, and the trial aims to assist local growers in enhancing productivity sustainably, despite current low-tech greenhouse conditions.
CO2 GRO Inc. (OTCQB: BLONF) has announced a second trial of its CO2 Delivery Solutions™ technology for rose production in Colombia, aimed at enhancing flower yields and quality over a one-year period. The trial is significant in the Colombian flower market where $1.42 billion worth of flowers were exported in 2020. The technology offers a viable option for low-tech greenhouses, promising yield increases of up to 30% and doubling gross profits while reducing production costs. The company is expanding its reach in Latin America.
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.
CO2 GRO Inc. (TSX.V:GROW)(OTCQB:BLONF) has approved the grant of 300,000 stock options at an exercise price of $0.22 per share, vesting over 2022. Currently, 6,413,606 common shares are reserved under the stock option plan, with 3,319,064 options remaining. The company's technology enhances greenhouse plant growth while reducing CO2 emissions and production costs. CO2 GRO aims for global expansion in various markets, presenting significant growth potential in the greenhouse sector.
CO2 GRO Inc. (OTCQB: BLONF) announced the approval of 1,600,000 stock options for participants in its stock option plan. The options will be exercisable at $0.22 per share over five years, with vesting occurring throughout 2022. Currently, 6,113,606 common shares are allocated under the plan, with 3,619,064 options still available for issuance. The company focuses on enhancing sustainable plant growth and productivity through its patented technology, which can increase yields by up to 30% and improve profit margins for growers.
CO2 GRO Inc. has been invited to speak at the Canadian Innovations in Agri-Food and Agri-Tech Seminar in Dubai on February 22, 2022. Elie Adaimy, Group Head of Business Development at Gulf Cryo, will represent the company, discussing CO2 and sustainable food production. This seminar aims to assist Canadian companies in the agri-food sector in entering the UAE market. Aaron Archibald, VP Sales, expressed excitement for the collaboration with Gulf Cryo, emphasizing the importance of international partnerships. For registration and details, visit here.
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