CO2 GRO Inc (CVE:GROW) (OTCQB:BLONF) (FRA:4021) said Thursday that the ongoing Canadian Technology Accelerator (CTA) cohort program was rapidly boosting the company's connections in Mexico.
As reported in January this year, the company was selected to take part in the three-month program, which is focused on the agriculture-tech (Ag-Tech) industry.
The first half involved a series of meetings with experts on the Mexico agricultural market, while the second half sees three weeks of one-on-one virtual meetings with protected agricultural growers and associations, distributors and potential partners that asked for meetings with CO2 GRO.
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"Having an expert introduce us to key Mexican greenhouse owners could lead to multiple revenue opportunities for us,” Aaron Archibald, CO2 GROs vice-president of sales and strategic alliances, said in January.
"We know greenhouse owners in hot countries cannot use CO2 gassing, missing out on up to 30% yield improvement. Our CO2 Delivery Solutions technology will enable them to supplement their plants with CO2 via aqueous CO2 misting, giving them the opportunity to significantly increase their yields."
Archibald added in a statement today: "At approximately 4 billion sq ft, the Mexican protected ag market is much larger than the combined US and Canadian markets and is a key focus for GROW's business development activities going forward."
He added that the interim yield improvement success from the Hidroexpo El Salvador pepper feasibility announced in January this year had also "opened doors to other nearby Central and South American growers who have approached us".
Earlier this year, the group said its CO2 Delivery Solutions was achieving 20% more pepper fruit production compared to a control group over the first ten weeks of commercial feasibility, as measured by kilograms of fruits harvested, at the Hidroexpo pepper greenhouse facility in El Salvador.
The feasibility is being conducted in a one-hectare greenhouse with half the plants receiving aqueous CO2 misting and half receiving no supplemental CO2.
The company's CO2 Delivery Solutions is poised to revolutionize the global high-value plant greenhouse industry and means growers can increase revenue by up to 30% and suppress the development of pathogens, reducing crop loss risks.
The tech dissolves and saturates CO2 gas into water creating a bubble-less aqueous CO2 solution. When the solution is misted onto high-value plants it increases revenue to greenhouse growers by up to 30% through a combination of larger plants and shorter crop grow time.
Contact the author at giles@proactiveinvestors.com