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Source Global, the developer of a “disruptive” technology that generates drinking water from the atmosphere, has announced its acquisition of spring water brand Proud Source Water.
A certified B Corp, Proud Source offers naturally alkaline water in recyclable aluminium bottles, which can be found at retailers and foodservice locations across the US.
The companies are combining to provide “the first completely renewable, sustainable bottled water,” according to Source Global. Its technology, the Source Hydropanel, produces drinking water using sunlight and air as the only inputs.
CEO and founder, Cody Friesen, elaborated: “Our Hydropanels allow us to establish a source of clean, sustainable water almost anywhere on the planet, without the need to extract from existing freshwater resources”.
“The technology is powered entirely by the sun, and the water is produced from vapour in the air, making it a truly renewable approach.”
Proud Source – which currently sources from sustainably managed springs in the Rocky Mountains and Florida’s Apalachicola National Forest – will expand its product portfolio to include water produced via Source Global’s tech.
Arrays of Hydropanels are to be installed at Proud Source’s bottling facilities, enabling the brand to offer “renewable water sourced from the air and delivered in infinitely recyclable packaging”. This is expected to be available nationally in early 2024.
“Proud Source Water was launched with the commitment to deliver the cleanest and most sustainable water on the planet,” said president CJ Pennington. “Now, with the renewable water technology Source brings to the process, we are able to take that pledge to an unprecedented level.”
The deal will see Proud Source become the bottled water division of Source Global.
Financial details of the transaction have not been disclosed.
#ProudSourceWater #SourceGlobal #US
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