CO2 GRO Inc (CVE:GROW) (OTCQB:BLONF) (FRA:4021) announced Tuesday that it has sold a CO2 Delivery Solutions commercial installation to a British Columbia based smaller licensed cultivator for medical cannabis.
GROW said the CO2 Delivery Solutions system was purchased based on its plant science data and testimonials from other customers currently using the technology. It was the second-such order.
The Toronto-based company noted that it has established considerable success with micro and smaller cannabis and hemp cultivators across Canada and the US growers who operate cultivation facilities under 10,000 square feet of canopy.
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Whether indoor or smaller hoop and greenhouses, all benefit from CO2 Delivery Solution with up to 30% yield enhancement and pathogen perimeter protection while realizing significant CO2 cost savings compared to atmospheric CO2 gassing, GROW said.
Canada currently has 106 micro-cultivation licensees who can operate facilities with up to 2,150 sq ft of cannabis canopy. US states have various regulatory frameworks that accommodate smaller cultivation operations.
With additional jurisdictions in the US approving some form of cannabis legalization during the recent election, Marijuana Business Daily reported the changes in legislation could generate USD$2.5 billion in additional sales by 2024. As a result, GROW said its CO2 Delivery Solutions is well-positioned to benefit from these positive industry trends.
"We are pleased to have our second 'straight-to-commercial installation' sale,” said Aaron Archibald, GROW's vice president of sales and strategic alliances. “We are finding a receptive niche with micro and smaller cannabis and hemp growers where our CO2 Delivery Solutions systems have now been proven to provide rapid financial benefits to them. These customers can also provide more referrals and testimonials to help accelerate the adoption of our aqueous CO2 technology."
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