CO2 Gro Commissions a Technology Adaptation Project (TAP) with a Major US Greenhouse Lettuce Grower and Provides an Update on its Colombia Rose TAP

TORONTO, ON / ACCESSWIRE / November 8, 2023 / Toronto based CO2 GRO Inc. ("CO2 GRO") (TSXV:GROW)(OTCQB:BLONF)(Frankfurt:4021) is pleased to announce that it has commissioned a Technology Adaptation Project ("TAP") with a major US greenhouse lettuce grower ("Lettuce Grower"). The TAP began in the first week of November 2023 and is scheduled to run for a 12-month period. The Lettuce Grower will assess CO2 GRO's CO2 Enrichment Solutions (formerly CO2 Delivery Solutions) technology's ("Technology") impact on lettuce yield, product quality, CO₂ savings, and overall financial impact to their business.

Foto: Accesswire

The Lettuce Grower is a multi-state operator with over 2 million square feet of greenhouse lettuce production with plans to expand further. Major US greenhouse lettuce and leafy greens producers currently operate a total cultivation area of approximately 8 million square feet and forecasted to double to exceed 16 million square feet in the coming years (source: Greenhouse Grower).

CO2 GRO's VP Sales, Aaron Archibald commented, "Commissioning this TAP with one of the United States' major greenhouse lettuce growers is an important step in the market penetration of our Technology in the US. Greenhouse lettuce is one of the fastest growing greenhouse vegetable segments. As the product is a leaf, it is perfectly suited for our Technology. We look forward to completing a successful project with this Lettuce Grower and moving towards a commercial deployment as soon as possible in 2024."

Colombia Rose Project Update

CO2 GRO's TAP in Colombia with a greenhouse rose grower ("Rose Grower") is now yielding outstanding results. The TAP began in January 2023, and as of the end of October 2023, has yielded 38% more rose stems in the CO2 GRO beds versus the control group. This means potential additional production of over 125,000 more rose stems per hectare annually, which generates an additional $62,500 more revenue.

The TAP is expected to conclude after Valentine's Day 2024 when CO2 GRO and the Rose Grower plan to finalize terms for a commercial deployment. The Rose Grower has 4 million square feet of rose greenhouses, all of which produce high-value roses for export.

There is over 250 million square feet of greenhouse rose production in Colombia, of which 60% is operated by four large groups exporting to the United States. The remaining 100 million square feet are owned by growers operating greenhouses in the 2-4 million square feet range, mostly for export (source: De Ruiter).