Cadiz, Inc. | Press Releases
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Press Releases

Groundwater Management Plan to Provide for the Long Term Safe Annual Withdrawal of 50,000 Acre-Feet of Water Each Year; Results Peer- reviewed by Leading Geologists and Verified by New Test Well Data

February 8, 2010 ONTARIO, CA – Today the internationally respected environmental firm CH2M Hill will unveil the findings of a comprehensive year-long study measuring the vast scale and recharge rate of the Cadiz aquifer system. The study, to be presented at a conference of the Association of Ground Water Agencies and American Ground Water Trust, describes a groundwater basin consisting principally of an alluvial and carbonate aquifer ranging in size between 17 and 34 million acre-feet, a volume of water larger than Lake Mead, the nation’s largest surface reservoir. (To view the presentation given by CH2M Hill at the conference, click here CH2M Hill Study PPT.)

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.

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.

Negotiator of Nation’s Largest Conservation-based Water Transfer to Oversee Company’s Agency Relationships and Sustainable Resource Management Programs; will continue to practice at Brownstein Hyatt Farber Schreck, LLP

November 26, 2008 LOS ANGELES – Cadiz Inc. (NASDAQ:CDZI) today named Scott Slater, one of the nation’s foremost experts in water policy, groundwater and environmental law, to serve as the Company’s general counsel. With 24 years of experience in the sustainable development and management of water resources, Slater will be the firm’s lead liaison with customer agencies and oversee the company’s environmental and resource management efforts. Under the terms of the agreement with Cadiz, Slater will also continue his practice as a shareholder in the law firm of Brownstein Hyatt Farber Schreck, LLP.

99-year lease agreement will provide Southern California with as much as 150,000 acre-feet/year of clean and reliable water

September 18, 2008 LOS ANGELES – Cadiz Inc. (NASDAQ:CDZI) announced today the execution of a 99-year lease agreement with the Arizona & California Railroad Company (ARZC).  The agreement will allow Cadiz to utilize a portion of the railroad’s right-of-way for a conveyance pipeline as part of the Cadiz Valley Dry-Year Supply Project. The Cadiz Valley Dry-Year Supply Project (Project) is a water storage and supply program, which will provide Southern California with as much as 150,000 acre-feet/year (49 billion gallons) of clean and reliable water during years of droughts, emergencies, or other periods of urgent need by utilizing the aquifer system that underlies Cadiz’s 35,000-acre landholding in the Cadiz and Fenner valleys of eastern San Bernardino County.  Historically, such dry periods occur in approximately three out of every ten years. In any given dry year, this water would be enough to serve more than 1.2 million people.