CO2 GRO Receives ~$500,000 CAD Sales Order from a Major Canadian Vegetable Greenhouse Grower

TORONTO, ON / ACCESSWIRE / May 24, 2023 / CO2 GRO Inc. (TSXV:GROW)(OTCQB:BLONF, Forum), a leader in innovative CO2 Delivery Solutions™ for the global protected agricultural sector, announces a meaningful sales order. In response to many growers' cost of borrowing doubling, CO2 GRO now provides a multi-year Pay for Use contract option that will help more greenhouse owners access our technology. Our multi-year Pay for Use contract option is similar to a recurring revenue utility model.

This financial alternative is expected to establish long-term partnerships with growers and stimulate sales. Grower response has been positive as evidenced by this initial ~$500,000 CAD Pay for Use contract with a major Canadian vegetable greenhouse grower.

CO2 GRO is working with several companies with international capabilities to provide equipment financing and receivables insurance to support these new multi-year Pay for Use contract options.

We believe these contract options will support access to more of the 700 billion square feet of agricultural facilities globally; and culminate in closing more sales that are already in our pipeline of active inquiries, commercial feasibilities, and potential sales.

John Archibald, CEO of CO2 GRO Inc., said, " This represents a flexible sales solution for our grower customers to provide longer term payment plans. We are driving this model through our sales organization and international partners into our sales pipeline. While supporting our customers, this also creates a recurring revenue model for our growing company."

About CO2 GRO Inc.

CO2 GRO Inc. is an innovative precision ag tech company focused on delivering CO2 Delivery Solutions™ to the global protected agricultural sector. Its patented technology helps growers increase crop yields and profits by enhancing plant growth, resilience, quality and water-use efficiency through aqueous CO₂ misting. CO2 GRO Inc. is committed to fostering sustainable agriculture practices and reducing the industry's environmental footprint, while supporting the well-being of its employees and local communities. For more information, please visit www.co2gro.ca.

Forward-Looking Statements

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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:
Soumik Roy
416.475.3806
ir@co2gro.ca

SOURCE: CO2 Gro Inc.