Mr. Soumik Roy reports

CO2 GRO INC. SIGNS TECHNOLOGY ADAPTATION PROJECT FOR FIRST COLOMBIAN EXPORTED BELL PEPPERS TO CANADA

CO2 Gro Inc. has signed a technology adaptation project (TAP) with California-based GreenFruit Avocados (GFA) for its new greenhouse bell peppers project in Colombia. The TAP will be conducted in GFA's first half-hectare (50,000-square-foot) greenhouse module, which will have half the module treated with CO2 Gro's CO2 Enrichment Solutions technology and half as control.

The TAP will begin in April, 2024, and conclude at the end of the grow season by December, 2024. The goals of the TAP include increased pepper fruit production, quality, reduction of powdery mildew with the technology's Pathogen Perimeter Protection benefit and demonstrating CO2 (carbon dioxide) enrichment of pepper plants in a venting greenhouse. This will enable GFA to grow their plants with C-stainable practices.

GreenFruit Avocados is one of the premier exporters of avocados from Colombia and Mexico to the United States and Canadian markets, with direct sales to the largest retail chains in North America. GFA prides itself on growing the "perfect Avocado" using organic agricultural practices which includes producing its own organic nutrients of the highest standards. GFA grows avocados on over 650 hectares in the mountains of Colombia, and hundreds of hectares in Mexico. GFA is now entering the greenhouse bell pepper export market, leveraging its organic production practices and sustainable branding to sell its peppers through their existing relationships with major retail chains in Canada and the U.S. The project will start with two half-hectare greenhouse modules, with plans to expand to over 60 hectares (six million square feet) of greenhouses in the coming years.

GreenFruit Avocado's partner and head of Colombia operations, Tony Bucio, commented: "We are excited to work with CO2 Gro whose technology fits perfectly with our organic and sustainable production practices. We will become the first Colombian exporter of bell peppers to Canada. Partnering with a Canadian ag-tech company with its C-stainable crop enhancement service provides our Canadian retail partners and consumers a one-of-a-kind bell pepper to enjoy."

Aaron Archibald, CO2 Gro's vice-president of sales, added: "As we develop our C-stainable crop enhancement service to greenhouse growers around the world, being a part of the first Colombian bell peppers to be exported to Canada is an especially proud opportunity for us. GreenFruit Avocados' focus on sustainable, high standard organic produce is exactly the type of grower partners we enjoy working with."

About CO2 Gro Inc.

CO2 Gro is a precision ag-tech, clean-tech company with a focus on people, the planet and prosperity. The company's vision is to become one of the leading companies enhancing global food production from protected agriculture. By helping its customers sustainably increase yield and profitability, CO2 Gro could help feed up to half a billion people worldwide while reducing its customers' ecological footprint.

About 300 million tonnes of fruit and vegetables are grown annually from about five million hectares of protected vegetable facilities globally (six kilograms per square metre per year of average production). A 30-per-cent yield increase using CO2 Gro's technology could add up to 100 million tonnes of fruits and vegetables per year. The U.S. Centers for Disease Control and Prevention recommends annual fruit and vegetable consumption of up to 200 kg per year per adult.

CO2 Gro's target market

The estimated 800-billion-square-foot global protected grower market comprises 700 billion square feet of fruits and vegetables (Cuesta Roble 2019 estimate), and an estimated 100 billion square feet of protected floriculture, and other medicinal plants and non-food varieties.

CO2 Gro's technology

CO2 Delivery Solutions enriches plants with carbon dioxide by misting an aqueous CO2 solution directly onto plants grown in greenhouses and other protected grow facilities globally.

Value proposition

Approximately 98 per cent of protected grow facilities globally cannot add CO2 by atmospheric gassing, missing out on up to 30-per-cent increased yield potential and 100 per cent more gross profit. CO2 Gro's technology enables all protected growers regardless of facility or location to enrich their plants with CO2 to realize up to 30-per-cent yield increases. In addition, CO2 Gro's technology suppresses the growth of micropathogens such as E. coli and powdery mildew, leading to healthier crops. Growers currently employing CO2 gassing can save up to 90 per cent of CO2 gas used, reducing their ecological footprint and production costs.

Patent protection

CO2 Gro's CO2 Delivery Solutions technology is protected by a suite of patents and patents pending.

Business model

CO2 Gro's technology is sold to growers based on the cultivation area installed at prices that provide a high return on their investment and high margins for the company's shareholders.

Global expansion

CO2 Gro's management is rapidly expanding its international marketing partner relationships into Mexico, Spain, the European Union, United Kingdom, South Africa, the Middle East, Southeast Asia and Latin America as well as in its U.S. and Canadian base.

Environmental, social and governance

CO2 Gro is committed to good environmental, social and governance (ESG) policies and practices. CO2 Gro is an equal-opportunity employer of choice and opportunity.

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