For more information, visit and follow us on Facebook, LinkedIn, Twitter and Instagram.Lightsmith Group (“Lightsmith”), a global sustainable private equity firm, is pleased to announce the final closing of Lightsmith Climate Resilience Partners SCSp RAIF (“Lightsmith Climate Resilience” or the “Fund”) with $186 million of commitments. SOURCE is a registered trademark of SOURCE Global, PBC. The company is headquartered in Scottsdale, Arizona, and operates in more than 50 countries.
A Public Benefit Corporation, SOURCE is on Fast Company’s 2020 list of most innovative social good companies.
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 Global, PBC’s mission is to perfect drinking water for every person, every place. We are excited to work together to further scale this solution globally.” “By redefining access to clean, safe drinking water, SOURCE Global is enhancing social and economic opportunity and resilience in water stressed regions. “The mission of SOURCE Global aligns with Microsoft’s commitments to sustainable innovation in water availability and to climate equity for underserved communities and economies,” said Brandon Middaugh, Director, Microsoft Climate Innovation Fund. “We are excited to be part of a solution that not only can help mitigate the significant climate impacts of extracting, treating, bottling, and transporting drinking water, but also deliver water abundance and create climate resilience for people around the world.” “SOURCE is a truly singular company, powered by technology at the convergence of renewable energy and water, with the potential to scale exponentially faster than the market for solar photovoltaics,” said Erik Snyder, Drawdown Fund’s CEO and founder. Digital sensors inside the panels and a cloud-based, 24-hour monitoring system create unparalleled insight into the quality and quantity of the water. It works entirely off the grid, requires no outside source of electricity or piped water infrastructure, and produces high-quality drinking water on site and in a variety of climates and conditions. The SOURCE Hydropanel system is a programmable, distributed, infrastructure-free, and fully digitized water solution. “With this new round of funding, we will accelerate our work to make high-quality drinking water an endlessly renewable resource and move closer to our vision of bringing perfect water to every person, every place.” “Clean, safe water is humanity’s most essential need, but at least 2.4 billion people on Planet Earth don’t have clean water to drink, and by 2050, six billion people will suffer from clean water scarcity as a result of climate change,” said Dr. Hydropanels scale from small arrays to multi-thousand panel water farms serving entire communities, businesses, and sustainable bottling operations. SOURCE ® Hydropanels use the sun to draw pure, constantly replenished water vapor out of the air and transform it into fresh, perfectly mineralized drinking water even in remote, low-humidity locations.
SOURCE Global’s patented Hydropanel technology – the world’s first truly renewable drinking water platform – uniquely serves the significant, fast-growing demand for clean, sustainable drinking water delivered through climate-resilient solutions at scale. As SOURCE continues to execute and grow, we believe the company will have a generational impact.” “Over the last half-dozen years, SOURCE has been building a tightly interconnected set of global solutions that have the power to make potable water poverty a thing of the past. “We are thrilled to expand our partnership with this category-creating business,” said Carmichael Roberts, Managing Partner at Material Impact and Co-Lead at Breakthrough Energy’s Investment Committee. The company plans to further scale its commercial, community, and consumer offerings globally and to accelerate innovation in advanced renewable water technologies. To date, SOURCE has raised a total of $270 million and built a presence in more than 50 countries. Other significant participants in the financing are Microsoft’s Climate Innovation Fund, Fifth Wall, Blackrock, WIND Ventures, Duke Energy, Harvard Management Company, Material Impact Partners, Monashee Capital, and the Lightsmith Group.
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SCOTTSDALE, Ariz.–( BUSINESS WIRE)–SOURCE Global, a world leader in sustainable drinking water technology, today announced that funds managed by Breakthrough Energy Ventures and Drawdown Fund co-led its $130 million Series D equity financing.
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