yahoo! finance – August 30, 2021
New Pledge to the one2one USA Foundation will leverage its existing relationship with SOURCE Global to install renewable water systems on 1,000 homes across Central Valley, CA.
SOURCE Global’s one-of-a-kind renewable water technology uses the energy of the sun to create premium drinking water by drawing pure, constantly replenished water vapor out of the air.
SAN FRANCISCO & PALO ALTO, Calif., August 30, 2021 – Chamath Palihapitiya, CEO of Social Capital, today announced a $7 million pledge to enable the delivery of readily available, renewable, clean drinking water in underserved communities across the drought-stricken California Central Valley. Working with the one2one USA Foundation, a 501(c)(3) non-profit organization, SOURCE Global, developer of the world’s first truly renewable drinking water system, will install its one-of-a-kind Hydropanels on 1,000 homes in the counties of Fresno, Monterey, Kern, and Tulare.
California has been called ground zero of the climate crisis. Access to water is worsening each day due to drought conditions, with the Central Valley as the epicenter. In addition to the effects of the drought, the region’s water supplies are also experiencing contamination, with nitrate and arsenic levels five and six times above the safe drinking water limit, respectively. The families and homes selected for this initial deployment are primarily in underserved, low-income, migrant communities, and many have no reliable access to clean, safe water.