SOURCE Global, the developer of the SOURCE® Hydropanel, the world’s first technology to sustainably generate renewable drinking water from the atmosphere, is proud to announce the acquisition of Proud Source Water, a leader in sustainably bottled spring water. Combining the resources and technological expertise of these two companies will transform the industry creating a new standard in bottled water — renewable water sourced from the air and delivered in infinitely recyclable packaging.
The two longstanding public-benefit corporations share similarities in values and have combined to provide the first completely renewable, sustainable bottled water. The acquisition of Proud Source enables SOURCE Global to bring the principles of renewable technology to the bottled water industry. The relationship will initially expand the Proud Source product portfolio to include both spring and renewable water.
“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 vapor in the air, making it a truly renewable approach. Coupling that capability with the acquisition of Proud Source results in a bottled water offering that is good for people and the planet.” said Dr. Cody Friesen, CEO and founder of SOURCE Global.
SOURCE Global developed Hydropanels to make drinking water an unlimited resource around the globe. Proud Source Water currently bottles their water from two sustainably managed springs in Idaho and Florida. Arrays of Hydropanels will soon be installed at the bottling facilities, and the on-site Hydropanel farms mean that there is no need for transportation, minimizing waste and emissions. This renewable Proud Source water will be available at retail and food service nationally in early 2024.
“SOURCE Hydropanels are as disruptive to the water industry as solar PV panels are to the energy industry,” says Neil Grimmer, Global CPG President for SOURCE Global. “Integrating our technology into the Proud Source manufacturing process is an industry game changer. I can’t imagine a more perfect and transformative combination.”
Operationally, Proud Source will be the bottled water division of SOURCE Global. With the acquisition, SOURCE Global’s Brand President, Neil Grimmer, is promoted to Global CPG President, overseeing all consumer-packaged goods initiatives, worldwide. Proud Source Water President, CJ Pennington, will join the U.S. leadership team reporting directly to Neil Grimmer.
“Proud Source Water was launched with the commitment to deliver the cleanest and most sustainable water on the planet,” says CJ Pennington. “Now with the renewable water technology SOURCE brings to the process we are able to take that pledge to an unprecedented level.”
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