# SOURCE Global, PBC

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/source-global-pbc

- Industry: Power & Utilities
- Headquarters: Scottsdale, US
- Website: www.source.co
- Total disclosed funding: $181M
- Latest round: Series D (Apr 14, 2022)
- Investors on record: 11

## About

SOURCE Global is a company focused on delivering innovative drinking water solutions by harnessing solar energy to convert atmospheric moisture into liquid water.Founded in 2014 and headquartered in Scottsdale, US, SOURCE Global, PBC specializes in sustainable water technology. The company was established by Cody Friesen, who has a background in developing eco-friendly technologies. SOURCE Global has secured a total of USD 108.94 mn through various funding rounds, with the most recent being a Series D round on April 14, 2022, which included investors such as BlackRock and Duke Energy Corp. The company has completed 8 deals to date.SOURCE Global specializes in innovative drinking water solutions through its flagship product, the SOURCE® drinking water system. This system utilizes patented Hydropanel® technology to extract water vapor from the atmosphere, harnessing solar energy to convert it into liquid water, which is then mineralized for enhanced health benefits and taste. The core function of this product addresses critical water supply challenges, particularly in rural, off-grid areas, and regions lacking reliable access to clean drinking water, such as small islands in the Philippines and remote communities globally. The company serves a diverse customer base, including residential homeowners, community organizations, and commercial entities, offering scalable solutions that can be tailored for various environments and sizes. SOURCE's products are marketed not only in the United States but also in international markets where water scarcity presents significant challenges.SOURCE Global generates revenue through a business model that includes both direct-to-consumer sales and partnerships with community organizations and commercial entities. The company’s primary offerings, including the SOURCE drinking water system, fulfill the urgent demand for sustainable water solutions across various demographics. Clients typically engage with SOURCE by purchasing the Hydropanel systems, which involve upfront costs along with potential subscription services for maintenance and support. The pricing structure accommodates different user needs, from individual households to large-scale commercial deployments.In April 2022, SOURCE Global, PBC raised USD 109 mn in Series D funding, co-led by new investor Drawdown Fund and returning investor Breakthrough Energy Ventures. The funding will be used to accelerate the scale of its drinking water solutions. SOURCE Global is focused on expanding its product offerings and entering new markets to address growing water scarcity challenges worldwide.

## Funding rounds

- Series D, Apr 14, 2022, $109M — Harvard Management Company, Monashees, Duke Energy Corp., BlackRock, Breakthrough Energy Ventures, Material Impact Fund, Fifth Wall Ventures, The Lightsmith Group, WIND Ventures, Drawdown Fund, Microsoft Climate Innovation Fund
- Series C, Aug 23, 2020, $72M — Duke Energy Corp., BlackRock, Breakthrough Energy Ventures, Material Impact Fund

## Investors

- Duke Energy Corp. — Series C, Series D
- BlackRock (https://capitalatlas.ai/funds/blackrock) — Series C, Series D
- Breakthrough Energy Ventures (https://capitalatlas.ai/funds/breakthrough-energy-ventures) — Series C, Series D
- Material Impact Fund (https://capitalatlas.ai/funds/material-impact-fund) — Series C, Series D
- Harvard Management Company — Series D
- Monashees (https://capitalatlas.ai/funds/monashees) — Series D
- Fifth Wall Ventures (https://capitalatlas.ai/funds/fifth-wall-ventures) — Series D
- The Lightsmith Group (https://capitalatlas.ai/funds/the-lightsmith-group) — Series D
- WIND Ventures (https://capitalatlas.ai/funds/wind-ventures) — Series D
- Drawdown Fund (https://capitalatlas.ai/funds/drawdown-fund) — Series D
- Microsoft Climate Innovation Fund (https://capitalatlas.ai/funds/microsoft-climate-innovation-fund) — Series D