CO2 GRO Inc (TSX-V:GROW, OTCQB:BLONF) has announced a CO2 Delivery Solutions commercial technology purchase by a US-based greenhouse grower.
The owner requested anonymity for competitive reasons, the company said.
Proceeds from the $127,750 sale include a down-payment followed by four equal installments every 16 weeks once the project is commissioned by the end of the first quarter of 2022.
"This is the largest sale of our CO2 Delivery Solutions technology to date,” said Aaron Archibald, vice president of sales and strategic alliances at CO2 GRO, in a statement.
READ: CO2 GRO announces sale of its CO2 Delivery Solution System to a Tennessee-based hemp grower
“The sale is being made without an initial Technology Trial (formerly referred to as a 'commercial feasibility'). This reinforces our focus of accelerating CO2 Delivery Solutions sales without initial Technology Trials, resulting in a shorter sales cycle and a reduced cost of sales," he added.
The company’s technology creates a dissolved CO2 solution that when misted onto plants provides growers that cannot gas with CO2 the opportunity to increase plant yields by up to 30% and profits by up to 100%. Applying dissolved CO2 also suppresses the development of pathogens such as E.coli and powdery mildew, helping to reduce crop losses.
CO2 GRO's management is rapidly expanding its international marketing partner relationships into Mexico, Spain, the EU, the UK, South Africa, the Middle East, Israel, South East Asia, and Latin America as well as in its North American base.
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