21 Aug Press Release: Cadiz Project To Provide $8 Million In Annual Savings To Southern California Water Users
New report shows that purity of Cadiz water to save Southern California water users $395 million over life of the Cadiz Water Project
LOS ANGELES, CA – Today Cadiz Inc. [NASDAQ:CDZI] (“Cadiz”, the “Company”) released a new report prepared by engineering consulting firm CH2M HILL detailing almost $8 million in annual cost savings to Southern California water users that can be realized through the introduction of high-quality Cadiz Valley Water Conservation, Recovery, and Supply Project (“Project”) water supplies into the region’s water transportation system. By applying an existing salinity assessment model developed by the U.S. Bureau of Reclamation (USBR) and the Metropolitan Water District of Southern California (Metropolitan), the analysis shows that introducing Cadiz water into the Colorado River Aqueduct (CRA), which is one of the main sources of water supply for Southern California, will realize nearly $400 million in savings to regional ratepayers over the 50-year life of the Project ($203 million in today’s dollars). This same model was recently used to evaluate water quality benefits associated with the twin tunnel solution now being pursued through the Bay-Delta Conservation Plan process.