Source Global, the developer of the Source Hydropanel technology that sustainably generates renewable drinking water from the atmosphere, announced the acquisition of Proud Source Water, a leader in sustainably bottled spring water.
According to the announcement, combining the resources and technological expertise of these two companies creates 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 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.
The renewable Proud Source water will be available at retail and foodservice nationally in early 2024.
Source Global developed Hydropanels to make drinking water an unlimited resource around the globe. Proud Source Water currently bottles its 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.
"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,” Dr. Cody Friesen, CEO and founder of Source Global, said in the announcement. “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."
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," Pennington said in the announcement. "Now with the renewable water technology Source brings to the process we are able to take that pledge to an unprecedented level."
