Posted at 12:00h
Cadiz Also Updates Progress in Project’s Environmental Review Phase
in Press Releases
LOS ANGELES (October 4, 2010) – Today Cadiz Inc. [NASDAQ: CDZI] is pleased to announce the addition of water-utility Suburban Water Systems (“Suburban”) to its Water Conservation & Storage Project (“Project”). Suburban is a wholly-owned subsidiary of SouthWest Water Company (“SouthWest Water”), a provider of water, wastewater and municipal utilities services to a population of over one million people from across the southern tier of the U.S.A. By entering today into an Option Agreement with Cadiz for conserved water and related storage capacity in the Project, Suburban joins Santa Margarita Water District (“Santa Margarita”), Three Valleys Municipal Water District (“Three Valleys”), and Golden State Water Company (“Golden State) as a Project participant. With the addition of Suburban, 60% of the water to be conserved annually by the Project is now under option. The Company is in continuing discussions with additional potential participants.