CO2 GRO said it has received a sales order valued at about $500,000 from a major Canadian vegetable greenhouse grower.
The company said this sales order was evidence that its multi-year Pay for Use contract, similar to a recurring revenue utility model, that was established in response to the rising cost of borrowing for growers has been received positively.
This financial alternative is expected to establish long-term partnerships with growers, stimulate sales, and result in the closing of sales in CO2 GRO’s pipeline of active inquiries, according to the company.
"This represents a flexible sales solution for our grower customers to provide longer-term payment plans,” said CO2 GRO CEO John Archibald in a statement.
“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."
CO2 GRO 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.
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