TORONTO, ON / ACCESSWIRE / December 6, 2021 / Toronto based CO2 GRO Inc. ("GROW") (TSXV:GROW)(OTCQB:BLONF)(Frankfurt:4021) is pleased to announce its first CO2 Delivery Solutions™ system sale in the state of Tennessee, to a hemp grower. The installation will be in a new indoor grow facility that will be expanded over time. The name of the client and commercial terms will remain confidential for competitive reasons.
The customer has extensive experience employing atmospheric CO2 enrichment (also referred to in the industry as CO2 gassing) to enhance crop yields. While CO2 gassing does provide a significant improvement to hemp crop yields in an indoor environment, the volume and attendant cost of CO2 gas required is not inconsequential. CO2 GRO's CO2 Delivery Solutions™ technology can save the customer up to 90% of CO2 gas usage and costs while achieving yield targets and increasing profitability. In addition, the customer will benefit from CO2 Delivery Solutions'™ Pathogen Perimeter Protection™ which suppresses the development of powdery mildew on plants, improving overall production and financial performance.
Tennessee is one of a number of US states that are promoting hemp farming for CBD, with laws that require hemp plants to contain no more than 0.3% THC. This change was spurred by the federal legalization of hemp and hemp-derived products in the 2018 Farm Bill. According to a recent report from Fortune Business Insights, the US CBD market is expected to grow from $3.6Bn in 2021 to $55Bn in 2028 with an annual growth rate of 47%.
Aaron Archibald VP Sales and Strategic Alliances stated, "This customer reached out to us after extensively researching options for providing additional CO2 to their hemp plants grown indoors. After reviewing our science and speaking to other customers currently using our technology, the customer decided to purchase the system without a feasibility. The customer's research and subsequent purchase confirms the many benefits our CO2 Delivery Solutions™ technology can provide to growers worldwide, whether they currently employ CO2 gassing or not."
Darla Lanphear, North America Sales Manager for CO2 GRO commented, "As we continue to penetrate high potential geographic and plant vertical markets, we are seeing a growing awareness of CO2 GRO's CO2 Delivery Solutions™ technology. Potential customers are increasingly understanding that direct purchases of commercial systems will immediately start bringing significant benefits to them."
Visit www.co2delivery.ca for more information on CO2 Delivery Solutions™ or watch this video. To see a CO2 Delivery Solutions™ VCO2 system installation, watch this video.
About CO2 GRO Inc. CO2 GRO Inc.
GROW's proprietary CO2 Delivery Solutions™ technology is revolutionizing the global 600 billion square foot protected agriculture industry (Cuesta Roble 2019). We create a dissolved CO2 solution that when misted onto plants provides growers that cannot gas with CO2 the opportunity to increase plant yields by up to 30% and profits by up to 100%. Applying a dissolved CO2 solution also suppressed the development of pathogens such as E.coli and powdery mildew, helping to reduce crop losses. GROW's CO2 Delivery Solutions™ is protected by a suite of patents and patents pending.
The worldwide market for GROW's disruptive CO2 Delivery Solutions™ technology is the 50 billion square feet of greenhouses and 550 billion square feet of protected agriculture facilities (Cuesta Roble 2019). Growers can maximize revenue and profits with our systems' low fixed and variable costs and ease of systems installation.
GROW'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 North American base.
GROW is committed to good Environment, Social and Governance (ES&G) policy and practices. We are an equal opportunity employer of choice and opportunity.
Our mission is to accelerate the growth of all value plants safely, economically, naturally and sustainably using our patented advanced CO2 Delivery Solutions™ while accreting value to our customers, stakeholders and shareholders.
Forward-Looking Statements
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For more information, please visit www.co2gro.ca or contact Michael O'Connor, Manager, Investor Relations at 604-317-6197 or [email protected].
SOURCE: CO2 Gro Inc.