17:13:12 EDT Wed 15 May 2024
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or Name
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CA



CO2 Gro Inc
Symbol GROW
Shares Issued 97,326,698
Close 2023-05-23 C$ 0.105
Market Cap C$ 10,219,303
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CO2 Gro receives $500K order from Cdn vegetable grower

2023-05-24 11:11 ET - News Release

Mr. John Archibald reports

CO2 GRO RECEIVES ~$500,000 CAD SALES ORDER FROM A MAJOR CANADIAN VEGETABLE GREENHOUSE GROWER

CO2 Gro Inc. has received a meaningful sales order. In response to many growers' cost of borrowing doubling, CO2 Gro now provides a multiyear pay-for-use contract option that will help more greenhouse owners access its technology. CO2 Gro's multiyear pay-for-use contract option is similar to a recurring revenue utility model.

This financial alternative is expected to establish long-term partnerships with growers and stimulate sales. Grower response has been positive as evidenced by this initial approximately $500,000 pay-for-use contract with a major Canadian vegetable greenhouse grower.

CO2 Gro is working with several companies with international capabilities to provide equipment financing and receivables insurance to support these new multiyear pay-for-use contract options.

CO2 Gro believes these contract options will support access to more of the 700 billion square feet of agricultural facilities globally, and culminate in closing more sales that are already in its pipeline of active inquiries, commercial feasibilities and potential sales.

John Archibald, chief executive officer of CO2 Gro, said: "This represents a flexible sales solution for our grower customers to provide longer-term payment plans. We are driving this model through our sales organization and international partners into our sales pipeline. While supporting our customers, this also creates a recurring revenue model for our growing company."

About CO2 Gro Inc.

CO2 Gro is an innovative precision ag tech company focused on delivering CO2 Delivery Solutions to the global protected agricultural sector. Its patented technology helps growers increase crop yields and profits by enhancing plant growth, resilience, quality and water-use efficiency through aqueous carbon dioxide misting. CO2 Gro is committed to fostering sustainable agriculture practices and reducing the industry's environmental footprint, while supporting the well-being of its employees and local communities.

We seek Safe Harbor.

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