El Salvador-based pepper grower Hidroexpo is expanding the deployment of CO2 GRO's foliar spray technology.
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.
Multiple trials of this technology at Hidroexpo delivered a 20% increase in pepper production in September 2021 and a 30% increase after technology protocol optimization in April 2022.
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."
CO2 GRO