CO2 GRO Signs ~CAD $1 million Sales Contract with El Salvador-based Hidroexpo

TORONTO, ON / ACCESSWIRE / June 20, 2023 / CO2 GRO Inc. (TSXV:GROW)(OTCQB:BLONF)(Frankfurt:4021) Forum is excited to announce its largest sales contract to-date with El Salvador-based greenhouse pepper grower Hidroexpo S.A. de C.V. (Hidroexpo). The Sales Contract is based on a multi-year Pay-for-Use model worth ~CAD $800,000, in addition to the previously announced Sales Contracts of ~CAD $200,000, with Hidroexpo.

This sales contract is a result of CO2 GRO's Technology Adaptation Trials (TAPs) with Hidroexpo, the first of which was initiated in September 2021 and delivered a 20% increase in pepper production; and the second in April 2022 which delivered a 30% increase after technology protocol optimization.

Hidroexpo's choice of the Pay-for-Use option that CO2 GRO offers will create a long-term partnership, which is expected to accelerate larger sales contracts with other customers.

Hidroexpo's General Manager, Rodrigo Martinez commented, "After using CO2 GRO's aqueous CO2 technology over the past two seasons, we have decided to expand its deployment to additional greenhouses at our facility and are confident that it can provide more benefits to our operations. We believe that the additional production and profits can help transform our business and enable us to expand our operations over the coming years. We look forward to cultivating our partnership with CO2 GRO and enhancing both our businesses for many years to come."

"Our multi-year Pay-for-Use contract option provides for recurring cash flow and allows more greenhouses to adopt our technology sooner and on a larger scale. Having closed this sales contract with Hidroexpo, we look forward to helping them continue to boost yields at more of their greenhouses as well as inspire more growers who have shown great interest in our technology's benefits to move forward" said John Archibald, CEO, CO2 GRO Inc.

"This sales contract, combined with our recently announced ~CAD $500,000 sales contract with a Canadian greenhouse vegetable grower, brings our total sales contracts since our inception to approximately CAD $2.1 million. This is a significant sales milestone that we look forward to building upon in the second half of 2023."

About CO2 GRO Inc.

CO2 GRO Inc. 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 CO2 misting. CO2 GRO Inc. 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. For more information, please visit www.co2gro.ca.

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For more information, please visit www.co2gro.ca or contact:
Soumik Roy
416.475.3806
ir@co2gro.ca

SOURCE: CO2 Gro Inc.