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.
This pledge is part of Chamath Palihapitiya and Social Capital's ongoing mission to address ? through donations and direct investment ? the impacts of the climate crisis, including lack of access to safe, high-quality drinking water.
One2one is partnering with Chamath Palihapitiya to manage the distribution of the pledged funds. The $7 million pledge may be used to pay for hydropanel installation, long-term service warranties, and community canvassing, all of which would be provided at cost.
One2one has selected SOURCE Global to bring clean, safe, and reliable drinking water to Central Valley homes through its patented, renewable water technology. SOURCE Hydropanels use the energy of the sun to create premium drinking water by drawing pure, constantly replenished water vapor out of the air, even in the driest climates on the planet. SOURCE Hydropanels operate entirely off the grid with no external electricity or traditional water infrastructure inputs. Multi-panel arrays are installed to serve the complete drinking water needs of families, schools, communities, and other applications in a fully sustainable way. This breakthrough technology can uniquely solve the drinking water crisis, especially in remote places like the Central Valley, which is facing drought along with water quality and infrastructure challenges.
Chamath Palihapitiya, Founder and CEO of Social Capital, said, "Access to clean drinking water is a basic human right that has been denied to underserved and minority communities across California. This health and inequality crisis has been exacerbated by the devastating effects of the current drought and the lack of renewable sources of high-quality drinking water in poor and minority communities at scale. By leveraging technologies like SOURCE Global's transformative, renewable water system, we can even the starting line and give underserved families access to the safe drinking water we all need to survive. I want to thank SOURCE Global and one2one for their steadfast commitment to serving the underserved, and I look forward to continuing to work with them to bring clean, reliable, and renewable water to the communities that need it the most."
"California's Central Valley is on the front lines of the world's water issues, with wells drying up, groundwater pollution rising, and towns running out of water. But as the climate crisis continues, more and more of us will face similar challenges," said Cody Friesen, SOURCE Global's Founder and CEO. "It's clear that we can no longer rely solely on extracting our drinking water from the earth's shrinking resources, packaging it in plastic, or treating and transporting it over long distances. We need a better way. We created SOURCE to perfect water for every person, every place, including those who have no water in their homes, who are dealing with contamination, aging infrastructure, and shrinking water supplies or who simply want a reliable source of high-quality drinking water in their homes and are interested in living more sustainably. We're excited to partner on projects like these to bring that mission to life across the globe."
About Chamath Palihapitiya and Social Capital
Chamath Palihapitiya is the Founder and CEO of Social Capital ? a technology holding company whose vision is to even the starting line for everyone. To that aim, Social Capital builds and funds breakthrough businesses across an array of sectors, with a particular focus on companies looking to address global crises of inequality and climate change. Social Capital has backed transformative companies like Virgin Galactic, Opendoor, Slack, as well as over 70 private investments.
About SOURCE Global
A Public Benefit Corporation, SOURCE Global, PBC's mission is to make drinking water an unlimited resource. 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 is on Fast Company's 2020 list of most innovative social good companies. Headquartered in Scottsdale, Arizona, the company operates in 52 countries on six continents. SOURCE is a registered trademark of SOURCE Global, PBC. For more information, visit www.source.co, and follow us on Facebook, LinkedIn, Twitter, and Instagram.
About one2one USA Foundation
one2one USA Foundation is a unique New York-based 501(c)(3) nonprofit organization that transforms the traditional charity model by connecting individuals directly with those in need in causes they are passionate about in a customizable, transparent, and impactful way. One2one's hope is to create a community of active donors who, by helping one person at a time, will collectively improve countless lives. In addition to one2one's 40 custom and varied, donor-inspired giving programs, one2one in partnership with SOURCE enables donors to donate hydropanels to those in need of clean drinking water. For more information, visit www.one2oneusa.org, and follow us on Facebook, LinkedIn, Twitter, and Instagram.
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