TORONTO, ON / ACCESSWIRE / March 23, 2020 / Toronto based CO2GRO Inc. (“GROW”) (TSX-V:GROW)(OTCQB:BLONF)(Frankfurt:4021) is pleased to provide an update on Company business activity and progress to date. While we expect that more business will be conducted remotely for the foreseeable future due to COVID-19 virus safety precautions, we are able to maintain essential business functions and to support our clients when needed.
Our CO2 Delivery Solutions™ systems are fully automated requiring practically no human labor and interaction. This enables our currently installed Commercial Feasibility systems to continue providing those clients’ plants with aqueous CO2 misting for enhanced growth. All our Commercial Feasibility projects are being managed by the clients’ respective Head Growers who are continuing to monitor the data from these projects. COVID-19 is not delaying or hampering our Commercial Feasibility projects that are underway.
Business Operations Continue
Articles posted by MMJ Daily and Horti Daily both discuss “How China slowly recovers from COVID 19” stating “Chinese greenhouses never stopped operating” and that “vegetable growers are doing well and the transport is returning to an acceptable state again.” Several states in the US have declared greenhouse horticultural businesses as “essential”. For example the state of Pennsylvania has declared, “Agriculture’s role is unquestionable: access to food is a right; we need local agriculture now more than ever.” as reported by Greenhouse Management magazine.
New potential greenhouse customers in North America with whom our sales team continues to develop business opportunities, have echoed the same policies of continuing operations as close to normal as possible. For customers that do agree to Commercial Feasibility and Installations during this COVID-19 period, our partners across the US and Canada are ready and able to fulfill installation orders with minimal delay.
John Archibald, CEO, stated “The vast majority of our business is in North America where we have built a team of sales representatives and operations partners across the US and Canada. Having this network in place ensures that both our business development and operations management are not significantly affected by the COVID-19 lock downs. In addition, most of our greenhouse customers continue to do business as usual and conversations with them are progressing normally within our sales cycle.”
About CO2 GRO Inc.
GROW’s mission is to accelerate the growth of all value plants safely, effectively and profitably using our patent protected advanced CO2 Delivery Solutions™. It is a commercially proven technology that is easily adopted into all covered cultivation including greenhouses, shade, hoop and tunnel houses, indoor and outdoor grow operations.
GROW’s target markets are the 50 billion square feet of global greenhouse space (USDA) and the highest value of the 4.62 billion acres of global cropland (USGS). While indoor gassing of CO2 to enhance crop yields has been practiced for decades, 85% of the world’s greenhouses cannot use CO2 gassing economically due mostly to heat ventilation which causes the CO2 gas to escape. Outdoor growers cannot gas CO2 into the atmosphere to the ideal levels required of up to 1500 ppm.
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 improving crop yields by up to 30% with up to 30% faster growth. 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, lettuce, kale, microgreens, peppers and flowers. 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 Investor Relations at 604-317-6197.
SOURCE: CO2 Gro Inc.
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