Visalia, Calif. – December 14, 2021 –
Manulife Investment Management (MIM), has announced plans to convert fallowed land to a “water farm” that will sustainably produce premium drinking water and ice for farm workers.
Through a partnership with SOURCE Global, PBC, the agricultural management team will place 640 SOURCE ® Hydropanels on a two-acre plot of land that is not being farmed due to tough growing conditions, made worse by drought. Using only the energy of the sun, this new technology draws pure H2O molecules out of water vapor in the surrounding air and transforms it into high-quality drinking water. Farm crews will receive this water on site in 5-gallon reusable jugs filled from the water farm, as well as ice made from SOURCE water.
California law requires employees to give farmworkers access to drinking water that is “fresh, pure, and suitably cool,” and “located as close as practicable” to their worksites. The SOURCE water farm will let contractors continue to meet that requirement sustainably and at a lower cost.
“The SOURCE system draws from the pure, endlessly replenished resources in the sky, using only renewable energy and with little new onsite infrastructure or additional impact such as excessive plastic waste. In the midst of California’s worst drought since 1977, farming operations and farm laborers are working in record-breaking heat to deliver food to the better part of the country,” said Brandon Spain, Senior Regional Manager, Manulife Farmland Management Services. “This new capability, enabling drinking water production for essential workers, where and when they need it, is consistent with our commitment to investing in bringing sustainable solutions to our clients.”
When it becomes active, the SOURCE-MIM water farm will initially produce approximately 1.2 million liters of drinking water and potable ice per year, with potential expansion that could serve the surrounding community.
“California’s Central Valley is on the front lines of the world’s water issues, with wells drying up, groundwater pollution rising to 300 percent above safe levels, and towns running out of municipal water. But as the climate crisis continues, more and more of us will face similar challenges,” said Cody Friesen, founder and CEO of SOURCE. “Our partnerships with leaders like Manulife Investment Management demonstrate an immediate, scalable solution that makes what was once scarce, abundant, effectively anywhere in the world.”
Manulife Investment Management expects construction on the water farm to begin in 2022.
About SOURCE Global, PBC
A Public Benefit Corporation, SOURCE Global, PBC’s mission is to make drinking water an unlimited resource. The company’s SOURCE ® Hydropanels create drinking water using sunlight and air as the only inputs, and can put the power of safe, sustainable drinking water in the hands of every person in nearly every climate and corner of the world. SOURCE is on Fast Company’s 2020 list of most innovative social good companies. Headquartered in Scottsdale, Arizona, the company operates in 54 countries and on six continents. SOURCE is a registered trademark of SOURCE Global, PBC.
About Manulife Investment Management
Manulife Investment Management is the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than a century of financial stewardship and the full resources of our parent company to serve individuals, institutions, and retirement plan members worldwide. Headquartered in Toronto, our leading capabilities in public and private markets are strengthened by an investment footprint that spans 18 geographies. We complement these capabilities by providing access to a network of unaffiliated asset managers from around the world. We’re committed to investing responsibly across our businesses. We develop innovative global frameworks for sustainable investing, collaboratively engage with companies in our securities portfolios, and maintain a high standard of stewardship where we own and operate assets, and we believe in supporting financial well-being through our workplace retirement plans. Today, plan sponsors around the world rely on our retirement plan administration and investment expertise to help their employees plan for, save for, and live a better retirement.
As of June 30, 2021, Manulife Investment Management’s assets under management and administration, including assets managed for Manulife’s other segments, totaled CAD $1.0 trillion (US $834 billion). Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.
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