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CO2 Gro Inc. was a Canadian agricultural technology company that developed aqueous carbon dioxide enrichment systems for greenhouse operations before suspending business activities. The company specialized in technology that dissolved CO2 gas into water for direct application to plant leaves, enabling photosynthetic enrichment in vented greenhouse facilities.
The company's technology addressed limitations in traditional atmospheric CO2 gassing, which loses effectiveness in greenhouses requiring ventilation for temperature control. By applying dissolved CO2 directly to leaf surfaces through misting systems, the technology made CO2 enrichment practical for the majority of global greenhouse operations that utilize open-venting designs. Trials demonstrated yield increases ranging from 20% to 38% across various crops including peppers, tomatoes, lettuce, roses, and other horticultural products.
CO2 Gro operated through a technology licensing and systems sales model, working with greenhouse growers in North America, South America, and other regions. The company conducted technology adaptation projects with operations growing vegetables, flowers, leafy greens, and specialty crops. The aqueous enrichment approach used substantially less CO2 gas than traditional atmospheric methods while achieving comparable or superior crop performance results.
Despite technical validation through multiple commercial installations and successful trials, the company faced financial difficulties and was unable to secure additional capital. The inability to obtain debt or equity financing led to suspension of operations, resignation of the board and executive leadership, and implementation of a cease trade order. The company sought parties interested in acquiring its assets or assuming control of operations.
Corporate actions included delays in financial reporting, leadership transitions, and ultimately complete suspension of business activities. The company's experience illustrated challenges in commercializing agricultural technology innovations even when technical performance has been demonstrated through field trials and early commercial deployments.
CO2 GRO Inc. has announced its first sale of the CO2 Delivery Solutions™ system to a hemp grower in Tennessee. This innovative technology enables growers to save up to 90% on CO2 gas usage and costs while improving crop yields and profitability. The hemp industry is expected to grow significantly, driven by the federal legalization of hemp products. CO2 GRO's solutions not only enhance plant growth by up to 30% but also provide pathogen protection. This marks a strategic expansion into a market projected to reach $55 billion by 2028.
CO2 GRO Inc. (OTCQB:BLONF) reported a revenue increase to $122,000 in Q3 2021, up from $91,000 in Q2 2021 and $24,857 in Q3 2020. The company signed a record seven new commercial feasibilities, expanding potential commercial opportunities to 200 million square feet, primarily with greenhouse growers and cannabis licensed producers. Its CO2 Delivery Solutions™ technology aims to enhance crop yields by up to 30% and profits by up to 100%. The company's focus remains on converting these feasibilities into sales in 2022.
CO2 GRO Inc. (OTCQB:BLONF) announced its invitation to present at the 2021 CG AgriFood Tech Innovation Virtual Forum on December 2, 2021. The forum will address key themes such as Ag Biologics, Food Preservation, and Controlled Environment Agriculture. CO2 GRO will showcase its CO2 Delivery Solutions™ technology, which can enhance yields by up to 30% and profits by up to 100% while reducing carbon footprints and pathogen development. The company is rapidly expanding its international partnerships across various regions.
CO2 GRO Inc. (OTCQB:BLONF) announced that independent director Rose Marie Gage received the Woman of Inspiration™ Integrity Award for 2021. This award honors women who inspire others and effect change. CEO John Archibald commended Gage’s contributions to CO2 GRO, particularly in environmental, social, and governance (ESG) efforts. CO2 GRO’s proprietary CO2 Delivery Solutions™ technology can potentially boost plant yields by up to 30% and profits by up to 100%. The company is expanding marketing partnerships internationally.
CO2 GRO Inc. (OTCQB: BLONF) announced its participation in the Adelaide Capital's Virtual Ag Tech Conference on November 17, 2021, at 1:30 PM ET. The event will showcase innovations in agricultural technology aimed at increasing crop yields and reducing greenhouse gas emissions. CO2 GRO will highlight its CO2 Delivery Solutions™, which can increase plant yields by up to 30% and profits by 100%, while mitigating pathogens like E.coli. The company continues to expand its market presence globally.
CO2 GRO Inc. (OTCQB:BLONF) highlighted the financial pressures on protected agricultural growers due to rising fossil fuel and CO2 costs, alongside increasing carbon taxes. The company’s CO2 Delivery Solutions™ technology could help mitigate these impacts, improving plant yields by up to 30% and reducing CO2 emissions by up to 90%. With a proven track record since 2019, CO2 GRO has made 24 system sales and identified 27 commercial feasibilities across 10 countries. The potential for growth in a market covering 600 billion square feet of protected agriculture is significant, according to CO2 GRO’s insights.
CO2 GRO Inc. (OTCQB: BLONF) released a letter from CEO John Archibald addressing shareholders. He thanked them for their support and highlighted that management owns 20% of company shares. He discussed how their CO2 Delivery Solutions™ can enhance grower yields by up to 30% and reduce pathogens. Despite COVID-19 challenges, the company secured new marketing partners and engaged in significant commercial feasibilities. In 2021, GROW signed 16 commercial feasibilities, expanding their market presence and sales activity in protected agriculture.
CO2 GRO Inc. has announced a significant commercial sale of its CO2 Delivery Solutions™ to Hidroexpo S.A. de C.V., a major pepper grower in El Salvador. This installation marks GROW's largest sale to date, covering a one-hectare greenhouse and potentially leading to additional sales across Hidroexpo's remaining 35 greenhouses. The successful feasibility study showed a nearly 20% increase in pepper yield with the CO2 technology. The Latin American protected agriculture market offers substantial growth opportunities, making this a pivotal development for GROW's expansion strategy.
CO2 GRO Inc. (OTCQB: BLONF) announces its new commercial feasibility with a cannabis producer in Ontario to optimize its CO2 Delivery Solutions™. The project aims to enhance growth processes in a new 100,000 square foot facility, focusing on increasing harvest turns and bud yields while reducing CO2 usage. The company’s technology can potentially elevate plant yields by up to 30% and profits by 100%. This development aligns with CO2 GRO's strategy to expand its influence within the cannabis sector as it approaches 2022.
CO2 GRO Inc. (OTCQB: BLONF) announced receiving funding from Canada's CanExport-SME program, aimed at enhancing its international business operations. This program assists early-stage Canadian SMEs in export marketing efforts. The company's CO2 Delivery Solutions™ technology enables growers to increase yields and profits significantly while reducing pathogen risks. GROW is expanding its partnerships in international markets such as Mexico, Europe, and South America. The company is focused on sustainable growth, backed by patented technology, with a large potential market in protected agriculture.
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