CO2 GRO Inc. Signs Agency Marketing Agreement with Henry James Innovations LLC
Wednesday, July 3, 2019 8:30 AM
TORONTO, ON / ACCESSWIRE / July 3, 2019 / Toronto based CO2 GRO Inc. ("GROW") (TSX-V: GROW, OTCQB: BLONF, Frankfurt: 4021) is pleased to announce it has entered into an Agency Marketing Agreement ("AMA") with North Carolina based Henry James Innovations LLC ("HJI") to accelerate the commercialization of GROW's patent pending CO2 Delivery Solutions in North America and globally.
The AMA allows GROW to leverage HJI's mostly U.S. marketing and sales team to initiate CO2 Delivery Solutions trials and commercial pilots with HJI's customers. GROW will lead all engineering and design support to HJI customers. Revenues from commercial agreements will be shared between GROW and HJI with GROW receiving 55% and HJI receiving 45%.
The Agreement is dated June 28 2019. Its initial term is three years with additional automatic three-year terms.
GROW's VP of Sales and Strategic Alliances, Aaron Archibald, commented, "The HJI AMA is part of GROW's marketing strategy to accelerate its CO2 Delivery Solutions roll-out to both the indoors and outdoors markets in the U.S., Canada and globally."
HJI President Steve Stansell commented, "Our grower customers will benefit from a broader selection of plant efficiency, growth enhancement and plant health related products and services. Our company is proud to be partnering with GROW and is excited to bring their CO2 Delivery Solutions to our customers."
About CO2 GRO Inc.
GROW's mission is to accelerate all indoor and outdoor value plant growth naturally, safely, and economically using its patent pending CO2 Delivery Solutions. GROW's global target retail plant markets are food at $8 trillion per year (Plunkett Mar 2017), non-food at an estimated $1.2 trillion per year with retail tobacco at $760 billion (BA Tobacco 2017), floriculture at $100 billion by 2022 (MarketResearch.Biz estimate). Legal cannabis at $52.5 billion per year by 2023 (Statista) and legal US hemp CBD at $22B per year by 2022 (the Brightfield Group).
GROW's CO2 Delivery Solutions are commercially proven, scalable and easily adopted into existing irrigation systems.
The CO2 Delivery Solutions work by transferring CO2 gas into water and misting the water across the entire plant leaf surface which is a semi permeable membrane. The dissolved concentrated CO2 then penetrates the leaf's surface to provide more carbon for enhanced plant growth.
Misting of water, dissolved nutrients and chemicals on plant leaves has been used for over 60 years by millions of indoor and outdoor growers. To date, outdoor growers have not had any way to enhance plant CO2 gas uptake for faster growth.
Indoor CO2 gassing has enhanced plant yields for over 60 years but 60% of the CO2 gas used is typically lost from ventilation. Current greenhouse CO2 gassing levels of up to 1500 PPM are not ideal for worker health and safety. GROW's safer infused CO2 Delivery Solutions can be used by both indoor and outdoor plant growers with minimal dissolved CO2 gas loss and much greater CO2 plant contact resulting in higher plant yields than both CO2 gassing and no gassing plant yields.
About Henry James LLC
Henry James Innovations, LLC, a Raleigh, North Carolina based company was founded with the vision to help companies and individuals bring highly innovative, unique patented products to key US, Canadian and global markets. Leveraging over 30 years of commercial success and relationships, with expertise in sales, sales management, marketing and product distribution Henry James Innovations is currently launching and selling into the greenhouse, nursey, specialty agriculture market sectors, home and garden markets. In addition Henry James Innovations, LLC markets to the golf consumer and golf turf markets.
For more information, please contact Steve Stansell, CEO, Henry James Innovations, LLC, +1-336-209-4316 or [email protected]
Forward-Looking Statements This news release may contain forward-looking statements that are based on CO2 GRO's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please visit www.co2gro.ca or contact Sam Kanes, VP Communications at 416-315-7477.
SOURCE: Co2 Gro Inc.