CO2 GRO Inc (CVE:GROW) (OTCQB:BLONF) (FRA:4021) told investors it had sold its CO2 Delivery Solutions system to a licensed Canadian cannabis producer with a growing facility of around 20,000 square feet (sq ft).
The sale was made without an initial feasibility after the customer reviewed past data and references from current users, the company said.
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"We are very pleased that this CO2 Delivery Solutions sale was achieved from a customer who contacted us based on our growing reputation in the industry," said CO2 GRO vice-president (VP) of sales and strategic alliances Aaron Archibald.
"The customer has decided to install the technology throughout their grow rooms without an initial feasibility. We continue to drive our marketing and sales activities and are pleased with the increasing number of commercial feasibilities and CO2 Delivery Solutions sales."
The company's CO2 Delivery Solutions system 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. It has also been shown to significantly lower CO2 gas and energy usage.
The technology 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.
Health Canada's website lists 613 licensed producers (LPs), of which around 100 are micro-cultivators, said the company, adding that increased competition and lower margins, meant growers were now paying more attention to reducing production costs and generating a higher quality product in an environmentally sustainable manner.
This had led to more interest in CO2 Delivery Solutions as the technology offers all of the above benefits resulting in greater profitability for growers, it added.
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