When gasworld announced that it was organizing the CO2 Summit this year, tickets sold out quickly and the agenda filled up with prominent names and important presentations.
The agenda featured Illinois Craft Brewers Guild Executive Director Ray Stout, Compressed Gas Association President & CEO Rich Gottwald, and Intelligas Consulting Principal and Director of Market Research Maura D. Garvey.
CO2 GRO Inc. was invited to speak too – and our Corporate Development Manager Dil Vashi traveled to Chicago to share a presentation on ‘Enhancing Global Food Production with CO2’ with a niche audience.
As the name of the conference suggests, the focus of attendees was on the supply side of CO2 which is facing an increasing number of challenges today because of logistics issues, production challenges, and more.
According to Grand View Research, the global CO2 market size was valued at USD 3.68 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.3% from 2022 to 2030. The high demand in the US puts its growth rate at 8.4% over the forecast period.
Currently, supply is at capacity to demand and is just about keeping up. Any major disruption to ammonia or ethanol plants can cause shortages quickly.
If and when that happens, suppliers will prioritize long-term relationships with industries such as soft drinks and food that are able to pay a premium and divert supply to them. Industries like horticulture will lose out.
CO2 GRO prides itself on the fact that it allows greenhouses to use CO2 over 90% more efficiently than traditional atmospheric enrichment methods, thereby reducing the need for CO2 significantly. As a result, our technology can significantly reduce the supply risk for greenhouses, extending the life of CO2 storage tanks significantly.
On the other hand, by attending conferences such as gasworld’s CO2 Summit, CO2 GRO is able to highlight the opportunity present in the protected ag space to CO2 suppliers who might not be fully aware of it.
To ensure CO2 can be procured reliably for CO2 GRO’s customers, our team is exploring partnerships with suppliers, as well as advising clients to develop relationships with a number of large and regional suppliers in order to reduce supply risk.
If you’d like to discuss how CO2 GRO can help reduce your greenhouse’s CO2 supply risk , reach out to [email protected] and a specialist will get in touch with you.