Company Failure: How SOURCE Lost Everything in Just 12 Months

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SOURCE (formerly Zero Mass Water) produced drinking water from air using solar-powered Hydropanels. Founded in 2015 by Cody Friesen, it raised $270 million, becoming one of water tech's most-funded companies - before turning into a Company Failure

🥜 IN A NUTSHELL 🥜 What was Source Global's core technology? Solar-powered Hydropanels that extract drinking water from atmospheric humidity, requiring no electrical or water infrastructure. Why did the company fail despite massive funding? Ran out of cash after failing to raise funds, faced major quality issues from Malaysian manufacturing, and had unsustainable costs versus traditional water delivery, leading to company failure What were the main product problems? High failure rates within 2-3 years, frequent fan and battery breakages, and warranty quietly reduced from 10 to 5 years. Did Source attempt a business pivot? Acquired Proud Source Water and launched Sky Water, building Hydropanel farms to produce canned atmospheric water at scale. What remains of Source Global today? The founder and executives left in early 2025. Hydropanels and Sky Water are out of stock, but the acquired Proud Source Water business continues operating despite the mother company failure

#️⃣ Mentioned Links #️⃣ SOURCE's SEC filings (over the years): Source on Glassdoor Source's troubles in Allensworth My own interview with Source, four years ago Source's website (still active) Cody Friesen's LinkedIn profile Proud Source Water's website Thunderf00t's original video

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