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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) announced its Q1 2021 results, reporting $17,000 in revenue. As of March 31, 2021, it had $97,000 in signed purchase orders, with $20,000 recorded as deferred revenue. The company expects to exceed last year's total revenue of $91,248 as recognized revenues from signed orders materialize. Financially, CO2 GRO has no debt and two years of cash on hand. The company's technology supports growers in increasing yields and profits while suppressing crop pathogens. Significant sales growth is anticipated in Q3 and Q4 2021.
CO2 GRO Inc. (OTCQB: BLONF) announced a commercial installation sale of its CO2 Delivery Solutions™ system to a US distributor. VP of Sales, Aaron Archibald, emphasized the strategic expansion of their sales force and distributor network in the US, aimed at accelerating technology deployment and increasing sales. The company's proprietary technology promises to enhance crop yields by up to 30% and profits by up to 100%, while helping to reduce crop losses by suppressing pathogen development.
CO2 GRO Inc. (OTCQB: BLONF) has been selected by Canada's Trade Commissioner Offices in Hague, Bern, and Madrid to present on "Collaborations in Sustainable Technologies in Agriculture" on May 25, 2021. This virtual webinar will feature presentations from three Canadian companies, focusing on Ag Tech and robotics, attracting around 80 to 100 European business attendees. CO2 GRO's patented CO2 Delivery Solutions™ technology promises significant benefits, including increased plant yields and pathogen suppression, with a substantial market potential in the protected agriculture sector.
CO2 GRO Inc. (OTCQB: BLONF) has completed a commercial installation sale of its CO2 Delivery Solutions™ technology to Golden Peak Cannabis. This follows a nine-month feasibility assessment revealing effective CO2 enhancement, leading to expected yields and reduced production costs. Golden Peak's CEO noted negligible operating costs and protection from crop diseases. CO2 GRO aims for international expansion, leveraging the $50 billion greenhouse market.
CO2 GRO Inc. (OTCQB:BLONF) has commenced a one-year commercial feasibility project with UK partner Rika Biotech Limited at a tomato greenhouse in the UK. The study aims to evaluate tomato yield during spring to fall and the effectiveness of Perimeter Protection™ in reducing powdery mildew spread, along with assessing CO2 usage cost reductions. The UK greenhouse vegetable market is valued at approximately £340 million, with tomatoes representing a significant portion. The expansion of domestic production in response to Brexit and rising self-sufficiency concerns further underscores the project's importance.
CO2 GRO Inc. (OTCQB: BLONF) announced the approval of 1,680,000 stock options at an exercise price of $0.32 per share, vesting throughout 2021. This brings the total shares reserved for issuance under the stock option plan to 6,589,740, with 1,871,232 options remaining. The company specializes in advanced CO2 Delivery Solutions™ aimed at enhancing yields and profits in agriculture by up to 30% and 100%, respectively, while reducing pathogen risks. CO2 GRO's technology is protected by patents, targeting the expansive greenhouse and protected agriculture market.
CO2 GRO Inc. announced a commercial installation sale of its CO2 Delivery Solutions™ to a BC-based licensed cultivator. The system, designed for a 4,200 square foot greenhouse without CO2 supplementation, was chosen based on existing plant science data and user testimonials. VP Aaron Archibald highlighted the expectation of faster sales cycles as more cultivators adopt their technology. GROW's CO2 solutions aim to increase plant yields by up to 30% and profits by 100%, while suppressing pathogens, presenting a disruptive opportunity in the 600 billion square foot agricultural industry.
CO2 GRO Inc. (OTCQB: BLONF) is reporting a strong start in Q1 2021 with sales of its CO2 Delivery Solutions™ systems to Canadian micro-cultivators and producers. The company signed a Marketing MOU in Malaysia targeting an extensive agriculture market and expanded its North American sales team. Highlights include interim yield increases of 20% in pepper crops and raising $700,000 through warrant exercises. The firm anticipates increased sales and feasibility projects in North America and internationally while continuing to adapt to COVID-19 impacts.
CO2 GRO Inc. (OTCQB: BLONF) has announced a commercial feasibility for its CO2 Delivery Solutions™ system at Alberta's The Cucumber Man greenhouse. This one-year feasibility will cover 3 acres of a 12-acre facility, focusing on enhancing tomato yields while reducing CO2 costs and environmental impact. Alberta is a key region for greenhouse produce, particularly tomatoes and peppers. The initiative aligns with Alberta's agricultural growth strategy, potentially leading to increased profits for The Cucumber Man through improved production efficiency and reduced pathogen risks.
CO2 GRO Inc. (OTCQB:BLONF) announced a commercial feasibility project with Pharmocann Global Ltd. in Israel, leveraging its CO2 Delivery Solutions™ technology in a greenhouse setting. This project aims to enhance cannabis growth, increase bud yield, suppress powdery mildew, and reduce costs over six months. Pharmocann, with 348,000 sq. ft. of greenhouse space, seeks to maximize plant growth despite structural limitations that prevent traditional CO2 gassing. The collaboration reflects Israel's expanding cannabis market and GROW's potential in the protected agriculture sector.
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