CO2 GRO Inc (CVE:GROW) (OTCQB:BLONF) (FRA:4021) announced on Thursday its first commercial feasibility study in the European Union with France-based Plant Advanced Technologies PAT SA (EPA:ALPAT).
The Toronto-based company said it is also the first partnership with its UK-based marketing partner Rika Biotech, which is exclusively representing CO2 Delivery Solutions in the UK, Netherlands and Belgium greenhouse markets.
The commercial feasibility exercise is directed at medicinal plants and is the first on such plants other than cannabis and hemp. “PAT contacted GROW directly concerning CO2 Delivery Solutions, while Rika is exclusive to certain EU countries,” said the company.
READ: CO2 GRO reveals it has sold a fourth CO2 Delivery Solutions Commercial Installation to a Canadian licensed cultivator
PAT extracts medicinal, nutraceuticals, cosmetical and plant-protection compounds from various wild plant biomass and roots. The company’s 7.5 acres Nancy-based greenhouse does not employ CO2 gassing. The commercial feasibility analysis will run for six months in a small section of their greenhouse, said the company.
In a statement, PAT CEO Jean-Paul Fèvre said: “We are excited to test the CO2 Delivery Solutions technology. I came across CO2 GRO online a few months back. Since our greenhouse does not currently use CO2 gassing, we believe our yields are lower than they could be.”
He added: “We grow a variety of medicinal plants for extracting compounds primarily from the roots. Previous data has shown enhanced biomass with added CO2 and we hope to achieve the same results on our plants.”
In the meantime, Rika Biotech Director Gregory Krupnikovs said his firm was “delighted” to support CO2 GRO and PAT execute their first commercial feasibility study in Europe.
“This is a key milestone as Rika develops the market for GROW’s exciting technology in our exclusive markets and other non-exclusive countries in Europe,” added Krupnikovs.
“Applying this technology to the fast-growing market for greenhouse produced medicinal plants shows just how flexible the system is; bringing the benefits of CO2 enrichment with vastly reduced CO2 usage to any type of covered crop.”
Meanwhile, CO2 Gro’s vice president sales and strategic alliances Aaron Archibald said the company is “very excited” to be working with PAT, given their unique focus on growing very high-value medicinal plants.
“Success could lead to working with growers of other very high-value plants such as biopharming grown for human drugs and vaccines. We continue to see significant interest from greenhouse growers in many diverse market segments,” added Archibald.
“Our global recognition continues to gain increasing momentum, thanks to ongoing marketing initiatives, our online presence, sales and marketing efforts and the work of our valued regional partners like Rika Biotech, who enable us to manage these international clients successfully.”
CO2 Gro's CO2 Delivery Solutions helps all greenhouses achieve up to 30% more plant yield consistently throughout the year. The company’s 2021 target market is the 50 billion square feet of greenhouses and covered cultivation facilities globally – 80% of which cannot use CO2 gassing due to heat venting, porosity or CO2 usage cost.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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