TORONTO, ON / ACCESSWIRE / February 4, 2020 / Toronto based CO2GRO Inc. (“GROW“) (TSX-V:GROW, OTCQB:BLONF, Frankfurt:4021) is pleased to announce its selection to participate at the Hemp Innovation Challenge on February 12th at the World Ag Expo held in Tulare, California (www.worldagexpo.com). The Expo is one of the largest agriculture trade events in the world, attracting over 1,500 exhibitors and over 100,000 attendees.
According to a report by Markets & Markets Research, the industrial hemp market is projected to grow from USD 4.6 Billion in 2019 to USD 26.6 Billion by 2025, recording a compounded annual growth rate (CAGR) of 34% during the forecast period. This is attributed to the growing number of chronic diseases such as diabetes; increasing usage of hempseed oil & hemp seed in various food applications; greater application of the non-psychotropic cannabinoid cannabidiol (CBD)-CBD hemp oil in food & pharmaceutical segment and increasing legalization in the cultivation of industrial hemp.
GROW’s CO2 Delivery Solutions™ technology helps reduce the spread of micro pathogens such as powdery mildew. In 2019, U.S. hemp crop losses were estimated at 50% by Vote Hemp, a major U.S. hemp lobby group founded in 2000. A significant portion of those crop losses were from powdery mildew infection resulting in crops being destroyed. In addition to reducing crop loss, CO2 Delivery Solutions™ result in faster growth for more harvests, greater bud and biomass production, and greater CBD production.
John Archibald, GROW’s CEO states “This prestigious event will provide another platform for us to present our technology and meet new customers, ag partners and suppliers. Hemp is one of the fastest growing crop markets however, growers are experiencing several cultivation issues including crop losses from powdery mildew. The hemp market and its cultivation problems provide an opportunity for our technology to have a meaningful impact for growers and end users of hemp products alike.”
About CO2 GRO Inc.
GROW’s mission is to accelerate the growth of all value plants safely, effectively and profitably using our patent protected advanced CO2 Delivery Solutions™. It is a commercially proven technology that is easily adopted into all covered cultivation including greenhouses, shade, hoop and tunnel houses, indoor and outdoor grow operations.
GROW’s target markets are the 50 billion square feet of global greenhouse space (USDA) and the 4.62 billion acres of global cropland (USGS). While indoor gassing of CO2 to enhance crop yields has been practiced for decades, 85% of the world’s greenhouses cannot use CO2 gassing economically due mostly to heat ventilation which causes the CO2 gas to escape. Outdoor growers cannot gas CO2 into the atmosphere to the ideal levels required of up to 1500 ppm.
GROW’s CO2 Delivery Solutions™ naturally and safely dissolves CO2 gas into water creating an aqueous CO2 solution which is then misted directly on plant leaves. GROW has demonstrated improving crop yields by up to 30% with up to 30% faster growth. The CO2 solution’s micro droplets create an aqueous film around the entire leaf surface, isolating the leaf from the atmosphere. This creates a diffusion gradient favoring CO2 transport into the leaf and other gases out of the leaf. Increased carbon availability enhances photosynthesis resulting in faster and larger plant growth. CO2 Delivery Solutions™ has been demonstrated on crops including cannabis, lettuce, kale, microgreens, peppers, flowers and medical tobacco. Growers everywhere can now supplement CO2 to their crops using CO2 Delivery Solutions™, increasing plant yields and profits.
Forward-Looking Statements This news release may contain forward-looking statements that are based on CO2 GRO’s expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please visit www.co2gro.ca
Sam Kanes, VP Communications
Michael O’Connor, Manager of IR
SOURCE: Co2 Gro Inc.
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