CO2 GRO Inc. Signs Technology Adaptation Project for First Colombian Exported Bell Peppers to Canada

TORONTO, ON / ACCESSWIRE / February 13, 2024 / CO2 GRO Inc. ("CO2 GRO") (TSXV:GROW)(OTCQB:BLONF)(Frankfurt:4021), is excited to announce a Technology Adaptation Project ("TAP") with California based GreenFruit Avocados ("GFA") for their new greenhouse bell peppers project in Colombia. The TAP will be conducted in GFA's first half-hectare (50,000 sq ft) greenhouse module, which will have half the module treated with CO2 GRO's CO2 Enrichment Solutions™ technology and half as control.

The TAP will begin in April 2024 and conclude at the end of the grow season by December 2024. The goals of the TAP include increased pepper fruit production, quality, reduction of powdery mildew with the technology's Pathogen Perimeter Protection™ benefit and demonstrating CO₂ enrichment of pepper plants in a venting greenhouse. This will enable GFA to grow their plants with C-stainable™ practices.

GreenFruit Avocados is one of the premier exporters of avocados from Colombia and Mexico to the US and Canadian markets, with direct sales to the largest retail chains in North America. GFA prides itself on growing the "Perfect Avocado" using organic agricultural practices which includes producing their own organic nutrients of the highest standards. GFA grows avocados on over 650 hectares in the mountains of Colombia, and hundreds of hectares in Mexico. GFA is now entering the greenhouse bell pepper export market, leveraging its organic production practices and sustainable branding to sell its peppers through their existing relationships with major retail chains in Canada and the US. The project will start with two half-hectare greenhouse modules, with plans to expand to over 60 hectares (6 million sq ft) of greenhouses in the coming years.

GreenFruit Avocado's Partner & Head of Colombia Operations, Tony Bucio commented, "We are excited to work with CO2 GRO whose technology fits perfectly with our organic and sustainable production practices. We will become the first Colombian exporter of bell peppers to Canada. Partnering with a Canadian ag-tech company with its C-stainable™ crop enhancement service provides our Canadian retail partners and consumers a one-of-a-kind bell pepper to enjoy."

Aaron Archibald, CO2 GRO's VP Sales added, "As we develop our C-stainable™ crop enhancement service to greenhouse growers around the world, being a part of the first Colombian bell peppers to be exported to Canada is an especially proud opportunity for us. GreenFruit Avocados' focus on sustainable, high standard organic produce is exactly the type of grower partners we enjoy working with."

For more information and to explore how CO2 GRO is contributing to a greener future in agriculture, visit https://co2gro.ca (English) or https://es.co2gro.ca (Spanish)

About CO2 GRO Inc.

CO2 GRO Inc. is a precision ag-tech, clean-tech company with a focus on People, the Planet and Prosperity. Our vision is to become one of the leading companies enhancing global food production from protected agriculture. By helping our customers sustainably increase yield and profitability, we could help feed up to half a billion people worldwide while reducing our customers' ecological footprint. Check out our webinar, corporate updates, and ESG report.

About 300 million MT of fruit and vegetables are grown annually from about 5 million hectares of protected vegetable facilities globally (6 kg/m2/year of average production). A 30% yield increase using our technology could add up to 100 million MT of fruits and vegetables per year. The US Centers for Disease Control and Prevention recommends annual fruit and vegetable consumption of up to 200 kg per year per adult.

Our Target Market: The estimated 800 billion square foot global protected grower market is comprised of 700 billion square feet of fruits & vegetables (Cuesta Roble 2019 estimate), and an estimated 100 billion square feet of protected floriculture and other medicinal plants and non-food varieties.

Our Technology: CO2 Delivery Solutions™ enriches plants with CO ₂ by misting an aqueous CO₂ solution directly onto plants grown in greenhouses and other protected grow facilities globally.

Value Proposition: Approximately 98% of protected grow facilities globally cannot add CO ₂ by atmospheric gassing, missing out on up to 30% increased yield potential and 100% more gross profit. CO2 GRO's technology enables all protected growers regardless of facility or location to enrich their plants with CO₂ to realize up to 30% yield increases. In addition, our technology suppresses the growth of micro-pathogens such as E.coli and powdery mildew, leading to healthier crops. Growers currently employing CO₂ gassing can save up to 90% of CO₂ gas used, reducing their ecological footprint and production costs.

Patent Protection: CO2 GRO's CO2 Delivery Solutions™ technology is protected by a suite of patents and patents pending.

Business Model: Our technology is sold to growers based on the cultivation area installed at prices that provide a high return on their investment and high margins for our shareholders.

Global Expansion: CO2 GRO's management is rapidly expanding its international marketing partner relationships into Mexico, Spain, the EU, the UK, South Africa, the Middle East, Southeast Asia and Latin America as well as in its US and Canadian base.

Environmental Social and Governance ESG: CO2 GRO is committed to good Environmental, Social and Governance (ESG) policies and practices. We are an equal opportunity employer of choice and opportunity. Rich suggesting a link here to our 2023 ESG Report

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Contact:

Soumik Roy, Director of Marketing, Communications, and Investor Relations
ir@co2gro.ca

SOURCE: CO2 Gro Inc.