SOURCE GLOBAL ACQUIRES PROUD SOURCE WATER ESTABLISHING A NEW SUSTAINABILITY STANDARD IN BOTTLED WATER

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. 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. 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.