TORONTO, ON / ACCESSWIRE / May 24, 2023 / CO2 GRO Inc. (TSXV:GROW)(OTCQB:BLONF, Forum), a leader in innovative CO2 Delivery Solutions™ for the global protected agricultural sector, announces a meaningful sales order. In response to many growers' cost of borrowing doubling, CO2 GRO now provides a multi-year Pay for Use contract option that will help more greenhouse owners access our technology. Our multi-year 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 ~$500,000 CAD 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 multi-year Pay for Use contract options.
We believe 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 our pipeline of active inquiries, commercial feasibilities, and potential sales.
John Archibald, CEO of CO2 GRO Inc., 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 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.
This press release contains statements which constitute 'forward‐looking information' within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities. Forward‐ looking information is often identified by the words 'may,' 'would,' 'could,' 'should,' 'will,' 'intend,' 'plan,' 'anticipate,' 'believe,' 'estimate,' 'expect' or similar expressions and include information regarding: statements regarding the future direction of the Company; the ability of the Company to successfully achieve its business and financial objectives; plans for expansion and the ability of the Company to obtain, develop and foster its business relationships; and expectations for other economic, business, and/or competitive factors. Investors are cautioned that forward‐ looking information is not based on historical facts but instead reflect the Company's management's expectations, estimates or projections concerning the business of the Company's future results or events based on the opinions, assumptions and estimates that management considered reasonable at the date the statements are made. Such assumptions include but are not limited to: general business and economic conditions; the Company's ability to successfully execute its plans and intentions; the availability of financing on reasonable terms; the Company's ability to attract and retain skilled staff; market competition; the products and technology offered by the Company's competitors; and that good relationships with business partners will be maintained. Although the Company believes that the expectations reflected in such forward‐looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements. Among the key factors that could cause actual results to differ materially from those projected in the forward‐looking information are the following: changes in general economic, business and political conditions, including changes in the financial markets; in particular, in the ability of the Company to raise debt and equity capital in the amounts and at the costs that it expects; adverse changes in applicable laws or adverse changes in the application or enforcement of current laws; the biotechnology industry and the greenhouse growers market are highly competitive, and technical advances in the industry will impact the success of the Company, and other risks described in the Company's filings that are available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward‐looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward‐looking information except as otherwise required by applicable law.
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For more information, please visit www.co2gro.ca or contact:
SOURCE: CO2 Gro Inc.
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