Posted at 12:00h
in Press Releases
June 5, 2009
LOS ANGELES – Today Cadiz Inc. (NASDAQ:CDZI) announced that it has executed Letters of Intent (LOI) with a broad collection of Southern California water providers to develop a cost-sharing agreement, finalize terms of pricing, design and capital allocation and work towards implementation of its water conservation and storage project. These providers together serve more than 3 million water customers across the region.
Signing the LOIs are four public municipal water agencies and Golden State Water Company, California’s second largest publicly-traded water utility. These providers serve customers in California’s San Bernardino, Riverside, Los Angeles, Orange and Ventura Counties. The Company expects to add additional participants for other aspects of the project.