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Broad-based Agreement on Land Preservation, Clean Energy, and Restoration of Aquatic Ecosystems
May 14, 2009
LOS ANGELES – Today Cadiz Inc. (NASDAQ:CDZI) and the Natural Heritage Institute (NHI) announced a wide-ranging “Green Compact” designed to ensure the sustainable management of the largest privately owned portion of the Mojave Desert. Founded in 1989, NHI is a leading global environmental organization dedicated to restoring and protecting water-dependent ecosystems.
Under a Memorandum of Understanding (MOU) between Cadiz and NHI, the company will pursue a series of model environmental initiatives, including the permanent preservation of its lands, dedication of a portion for solar power development, stringent plans for groundwater management and habitat conservation, and the creation of a water bank that will be used in part to restore one or more endangered aquatic ecosystems in California and the Colorado River basin.