Water Utility Serving 800,000 People Approves Agreements to Proceed with the Project and Participate in the Environmental Review
June 28, 2010
LOS ANGELES – Today Cadiz Inc. [NASDAQ: CDZI] announced that the Golden State Water Company (“Golden State”), a subsidiary of American States Water [NYSE: AWR] and California’s second largest investor-owned water utility, has executed an Option Agreement to acquire conserved water and related storage capacity in the Cadiz Water Conservation & Storage Project (“Cadiz Project”), joining Santa Margarita Water District (“Santa Margarita”) and Three Valleys Municipal Water District (“Three Valleys”), which approved similar agreements last week. The agreements, which were executed on June 25, 2010 and filed today by the Company with the Securities and Exchange Commission (“SEC”), grant Golden State the right to acquire a firm annual supply of water and commit funds to the environmental review of the Project.
Santa Margarita Water District Commits to Lead Environmental Review
June 24, 2010
LOS ANGELES – Today Cadiz Inc. [NASDAQ: CDZI] announced that two Southern California water agencies have approved agreements to proceed with the Cadiz Water Conservation & Storage Project (“Cadiz Project”) and participate in the Project’s environmental review. The Boards of Directors of Santa Margarita Water District (“Santa Margarita”) and Three Valleys Municipal Water District (“Three Valleys”), which together serve over 650,000 customers in parts of Orange and Los Angeles Counties, have unanimously approved agreements that commit funds to an environmental review of the Cadiz Project and also grant the agencies the right to acquire a firm annual supply of water once the environmental review is complete.
Panel will review scientific basis for design and advise participants on the proposed Project's operating and monitoring plans
RANCHO SANTA MARGARITA, CA and LOS ANGELES, CA (May 2, 2010) – Today Santa Margarita Water District (“SMWD”) and Cadiz Inc. [NASDAQ: CDZI] (“Cadiz”) announced the formation of a 13-member Groundwater Stewardship Committee (“GSC”) comprised of leading experts who will guide the design of an operating plan and mitigation and monitoring program for the Cadiz Valley Water Conservation, Recovery and Storage Project (“the Project”). SMWD is serving as the lead agency of the California Environmental Quality Act (“CEQA”) review for the Project, which proposes to provide a new, reliable water supply for SMWD and other Southern California communities by capturing and conserving thousands of acre-feet of native groundwater currently being lost to evaporation from an aquifer system located beneath Cadiz’s property in California’s Mojave Desert. The operating plan and monitoring program will ensure that the Project is both sustainable and not harmful to the desert and watershed environment.
March 8, 2010
Internationally Renowned Firm Named Preferred Provider in Agreement with Cadiz; Believes in Sustainability of the Project
Los Angeles, CA – Today, Cadiz Inc. [NASDAQ: CDZI] announced that following the completion of extensive field studies, Layne Christensen Company [NASDAQ: LAYN], a recognized leader in water-related drilling, installation, and maintenance services, will be its preferred provider of well-field construction for the Cadiz Water Conservation & Storage Project (the “Project”). Under an agreement between Layne Christensen and Cadiz, Layne Christensen will have the right of first refusal on well-field construction for the Project. One of Layne Christensen’s largest offices in the United States is located in Fontana in San Bernardino County, California. From its Fontana office, Layne Christensen can provide water well infrastructure and labor for the Project. Cadiz plans to conserve up to 50,000 acre-feet of water per year and to store and recover potentially one million acre-feet of water as part of the Project.
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.