TORONTO, ON / ACCESSWIRE / July 22, 2020 / Toronto based CO2 GRO Inc. (“GROW“) (TSXV:GROW)(OTCQB:BLONF)(Frankfurt:4021) is pleased to announce a CO2 Delivery Solutions™ Commercial Feasibility with a leafy greens greenhouse grower (“Customer”) in Florida. The Feasibility will be conducted on a portion of the greenhouse growing spinach. The Customer grows spinach, lettuce and other microgreens in a hydroponic system under 120,000 square feet of greenhouse space.
GROW’s CO2 Delivery Solutions™ VCO2 system will provide aqueous CO2 mist to the leaves of the treatment group with the following objectives: faster growth to harvest, increased biomass growth and protection against the spread of epiphytic micro pathogens such as powdery mildew and E. coli. Applying aqueous CO2 mist to the leaves of plants can be done irrespective of the growing media or growing system, whether the plants are grown hydroponically, in the ground, in soil pots, vertically etc.
The Hydroponic Crop Farming industry in the United States generated US$831 million in revenues in 2019 from 3004 businesses (IBISWorld 2019). The world-wide hydroponics market is estimated at US$8.1 billion in 2019 and projected to grow at a CAGR of 12.1% to reach US$16.0 billion by 2025 (Markets and Markets Hydroponics Markets Research Report May 2019). The growth of the hydroponics market is driven by higher plant yields compared to conventional agriculture methods in limited land and other resources, which has had a profound impact in demand for hydroponics. Hydroponic systems are a combination of multiple technologies and hence encompass a specific set of system models.
According to John Archibald, GROW’s CEO, “The Commercial Feasibility with this Customer is a significant milestone for three reasons: one – it is our first Commercial Feasibility in Florida, a very important market, two – it is our first Commercial Feasibility in a Hydroponic Crop Farming facility in the U.S. and three – growing spinach is yet another high value greenhouse vegetable that our technology will demonstrate its value on. Geographies such as Florida where high value greenhouse vegetables are grown, yet the climate is too hot for sealed greenhouses, are prime markets for our technology. Applying aqueous CO2 using our technology is the only CO2 supplementation option to enhance plant growth for unsealed and heat venting greenhouses located in hot climates. A successful Commercial Feasibility will demonstrate to hydroponic greenhouse vegetable growers in hot climates that CO2 Delivery Solutions™ can significantly increase yields while suppressing micro pathogens resulting in increased profits.”
About CO2 GRO Inc.
GROW’s target markets are focused on the 50 billion square feet of global greenhouse and covered cultivation space (USDA). Atmospheric enrichment of CO2 by gassing has been practiced in indoor and expensive sealed greenhouses for decades resulting in enhance crop yields of up to 30%. However, 85% of the world’s greenhouses are unsealed and have open-venting designs for heat ventilation which makes CO2 gassing uneconomical and impractical since the CO2 gas easily escapes.
GROW’s CO2 Delivery Solutions™ naturally and safely dissolves CO2 gas into water creating an aqueous CO2 solution which is then misted directly on plant leaves. GROW has demonstrated its technology to be as effective as CO2 gassing by improving crop yields up to 30%, while using a fraction of the CO2 gas. The CO2 solution’s micro droplets create an aqueous film around the entire leaf surface, isolating the leaf from the atmosphere. This creates a diffusion gradient favoring CO2 transport into the leaf and other gases out of the leaf. Increased carbon availability enhances photosynthesis resulting in faster and larger plant growth. CO2 Delivery Solutions™ has been demonstrated on crops including cannabis, hemp, lettuce, kale, microgreens, peppers and flowers. In addition, aqueous CO2 misting offers Perimeter Protection™ for plants by slowing the spread of micro pathogens such as E. coli and powdery mildew. Greenhouse growers everywhere can now supplement CO2 to their crops using CO2 Delivery Solutions™, increasing plant yields and profits.
Forward-Looking Statements This news release may contain forward-looking statements that are based on CO2 GRO’s expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by 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 Sam Kanes, VP Communications at 416-315-7477 or Michael O’Connor, Manager of IR at 604-317-6197.
SOURCE: CO2 Gro Inc.
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