You might have noticed Proud Source Water’s tall aluminum water bottles in local stores. The distinctive packaging with blue mountains and water droplets sits next to national brands like SmartWater at local stores.
Now, the Mackay-based company looks to grow with a $6-million infusion of cash.
Proud Source bottles its product at the base of Mt. McCaleb. The water has natural alkalinity, with a pH of 8.8.
It packages the product in aluminum containers instead of plastic and pitches the product as a more environmentally sustainable option. It notes that while large swaths of the country don’t recycle plastic curbside anymore – aluminum has much higher recycling rates. Nearly 75% of all aluminum gets recycled.
More cash for more growth
AF Ventures led the $6 million financing round.
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“We’re looking to tell our story,” Proud Source Water President CJ Pennington told Bevnet. “The business is, in a big way, needing some more support on the sales front. The funds will be used to utilize and propel the business forward in marketing and retail.”
Right now, Proud Source employs just 30 people. It distributes into more than 15,000 stores – including Whole Foods and Albertsons locations.
“Proud Source Water’s recyclable aluminum packaging offers consumers a much-needed alternative to plastic bottles, which are filling up our landfills and oceans,” AF Ventures’ Managing Partner Jordan Gaspar said. “Through our extensive network of major retailer and distribution partners, we see tremendous opportunity to grow this brand well beyond its current footprint.”
The cash will give the company resources to amp up sales. It hopes to move beyond typical grocery stores into more convenience stores. According to Bevnet, It also sees an opportunity to sell its products at locations that banned plastic, like zoos and aquariums.