Fundraising Success for Hope Hydration as They Secure $20 Million for their Free Drinking Water Initiative in Times Square. Future Plans Include Expansion to Flint, Michigan.
HOPE Hydration, a startup that combines social impact with commercial innovation, has recently secured a $20 million Series A funding round led by water treatment company Pentair plc. This funding will be used to expand the company's network of water stations, making clean drinking water more accessible in public spaces such as airports, cities, and stadiums.
HOPE Hydration's unique business model revolves around providing free, high-quality filtered drinking water to the public through its digitally connected HydroStations. These stations use Everpure filtration technology to deliver chilled, filtered water, encouraging the use of reusable bottles and reducing single-use plastic waste.
Each HydroStation is equipped with a large 55-inch LED screen used for displaying digital ads. This advertising space enables HOPE Hydration to cover installation and operational costs without charging users for water, creating a sustainable revenue stream funded by brands and advertisers who want to engage consumers in high-traffic environments.
The company's mission prioritizes water as a human right, sustainable hydration, and plastic waste reduction. This funding will also strengthen strategic partnerships with major brands and events, allowing HOPE Hydration to invest in advancing water station technology and building a permanent network.
Sustainability expert Jamie Richards states that delivering convenience is crucial for sustainable behavior. By making refill stations obvious and convenient, HOPE Hydration encourages the use of reusable bottles and helps consumers make more sustainable choices.
HOPE Hydration has already been successful in operating the event business fluidly and aims to focus on investing in a permanent network. The company has saved more than 2.6 million plastic water bottles and prevented more than 29 million units of CO2 from being emitted.
HOPE Hydration's co-founder and CEO, Jorge Richardson, told Forbes that they are maximizing ad impressions and potential for impact. The average time a person spends refilling their bottle at a HOPE Hydration station is just thirteen seconds.
Richardson expresses equal excitement from brands about providing water access for airports and helping communities in need, like Flint, Michigan. The company aims to install water stations in places without significant foot traffic, such as Flint, to ensure everyone has access to clean drinking water.
Tom Ferguson, founder of Burnt Island Ventures, believes HOPE Hydration is riding a trend of increased popularity for reusable water bottles. Advertisers can reach their target consumers on HOPE Hydration's refill station screens while providing a necessary service.
HOPE Hydration was founded by Jorge Richardson in 2020 and is now a certified B Corp. The company continues to face the challenge of encouraging consumers to use reusable bottles and change their behavior, but with the new funding, they are poised to make a significant impact on reducing plastic waste and ensuring everyone has access to clean drinking water.
- The Series A funding secured by HOPE Hydration will not only be used to expand their network of water stations for making clean drinking water more accessible in public spaces, but also to invest in advancing water station technology and building a permanent network, particularly in communities in need like Flint, Michigan.
- HOPE Hydration's digital ads displayed on large LED screens at their HydroStations not only help cover installation and operational costs, creating a sustainable revenue stream, but also provide brands and advertisers with an opportunity to engage consumers in high-traffic environments while promoting eco-friendly lifestyle choices by encouraging the use of reusable bottles.
