An innovative, new sustainable water source for Southern California, the Cadiz Water Project is a public-private partnership between Cadiz Inc. and the Santa Margarita Water District, Orange County’s second-largest water agency. The project will prevent the annual loss of groundwater to evaporation in the eastern Mojave Desert and create a new water supply – enough for 100,000 families a year – and a groundwater bank for Southern California water providers.
The Project will be located at the base of a significant desert watershed in Cadiz, approximately 80 miles from Barstow, California. Rain and snow that fall in the watershed’s upper elevations percolate below the ground and filter through cracks in bedrock and porous alluvial to enter a huge underground aquifer, which holds as much water as Lake Mead, America’s largest reservoir. Over time, the groundwater eventually flows to highly saline playas or “dry lakes” at the bottom of the watershed, where it evaporates and is lost.
By constructing and operating a wellfield on private property owned by Cadiz, the Cadiz Water Project will recover an annual average of 50,000 acre-feet of groundwater before it evaporates, so that it can be put to beneficial use each year for 50 years. A pipeline will be constructed within an active railroad right-of-way from the Project area to the Colorado River Aqueduct, which will carry it to Southern California water users.
The Project will be governed by a comprehensive groundwater management program that will be enforced by the County of San Bernardino. Over the course of the project’s 50-year life, approximately 5 percent of the aquifer’s water will be pumped, and water levels cannot fall more than 80 feet below the water table. The Project’s open, transparent regulatory review resulted in separate and independent approvals under the California Environmental Quality Act and the San Bernardino County Desert Groundwater Ordinance. Both approvals were upheld against six separate legal challenges in Orange County Superior Court in 2014.
The Cadiz Water Project is the most shovel-ready, environmentally benign new water project in drought-prone California. Once construction begins, the Water Project will generate nearly a billion dollars of economic stimulus, employ thousands of people and provide more than a billion dollars in water quality and water supply reliability benefits to portions of six Southern California counties, all without public subsidies of any kind.
Agreements Extend Maturity of Existing Convertible Debt to March 2020 and Gains Right to Extend First Mortgage to June 2017 (Los Angeles, CA) (via GlobeNewswire) – Cadiz Inc. (NASDAQ: CDZI) (“Cadiz”, “the Company”) is pleased to announce today that it has entered into an agreement with its senior lenders, including MSD Credit Opportunity Master Fund, L.P., (“SeniorRead More
11.5.15 – On November 3, 2015, the Board of the Otay Water District, a publicly-owned water, recycled water and sewer service provider in southeastern San Diego County, California, voted to authorize its general manager to enter into a Letter of Intent with Cadiz Inc. to purchase 5,000 acre-feet of water per year from the Cadiz Valley Water Conservation,Read More
Read more: http://www.sbsun.com/opinion/20151016/california-blm-undermines-confidence-with-cadiz-decision-guest-commentaryRead More
October 2015 Water Project Status Update Cadiz Inc. 10.16.15 — Following the United States Bureau of Land Management’s (BLM) issuance of a guidance determination that a water pipeline for human consumption was not within the scope of the Arizona & California Railroad right-of-way, the Company is undertaking the following actions. Obtaining further clarification on BLM’sRead More
Los Angeles, CA (BusinessWire) — Cadiz Inc. (NASDAQ: CDZI) (“Cadiz”, the “Company”) announced today that it has indirectly received a copy of correspondence dated October 2, 2015 addressed to the Company from the California State Director of the U.S. Bureau of Land Management (“BLM”) related to the Cadiz Valley Water Conservation, Recovery and Storage Project’sRead More
Los Angeles, September 8, 2015 (GlobeNewswire) – Cadiz Inc. (NASDAQ: CDZI), a California land and water resources development company, is pleased to announce that Scott Slater, the Company’s President and CEO, will make a presentation tomorrow at the 17th Annual Rodman & Renshaw Global Investment Conference being held at the St. Regis Hotel in NewRead More
NGOs, local government groups, labor, construction trades and water agencies apply to file amicus “friends of the court” briefs with the California Court of Appeals in support of project’s trial court victory 08.31.15. Los Angeles, CA (GlobeNewswire) – Today Cadiz Inc. (NASDAQ: CDZI) is pleased to announce that the Cadiz Valley Water, Conservation, Recovery &Read More
8.6.15 – LOS ANGELES, CA (BusinessWire) – Southern California land and water resources development company Cadiz Inc. (NASDAQ: CDZI) (“Cadiz”, the “Company”) announced today that it has received several new endorsements from local elected officials in support of the Cadiz Valley Water Conservation, Recovery & Storage Project (“Cadiz Water Project”). The Cadiz Water Project isRead More
Los Angeles, CA (Business Wire) – Today, Southern California land and water resources development company Cadiz Inc. (NASDAQ: CDZI) (“Cadiz”, the “Company”), water treatment company ATEC Systems Associates, Inc. (“ATEC”) and international engineering firm CH2M (“CH2M”) announced the execution of a strategic alliance agreement for the expanded use of an innovative California Division of DrinkingRead More
(Business Wire) Los Angeles, CA – Today Cadiz Inc. is pleased to announce the availability of a new report prepared by Southern California economic consulting firm Stratecon Inc. that comprehensively analyzes the probability of capacity in the Colorado River Aqueduct (CRA) to convey water made available by the Cadiz Valley Water Conservation Recovery & Storage Project (Cadiz WaterRead More
(Business Wire) Los Angeles, CA – The ARZC operates a shortline railroad that originates in Cadiz, California and runs to Matthie, Arizona near Phoenix. Due to the remote nature of sections of the ARZC route, the railroad desires cost-effective and routine access to power for its operations, including potential transloading at a siding location inRead More
(Business Wire) Los Angeles, CA – Cadiz Inc. (NASDAQ: CDZI), a California land and water resources development company, is pleased to announce that it has posted a new letter from United States Representative Mimi Walters (R-Irvine) in support of the Cadiz Valley Water Conservation, Recovery & Storage Project (“Cadiz Water Project”) to its website at http://cadizinc.com/projectsupport/ .Read More
(Business Wire) Los Angeles, CA – Today Cadiz Inc. [NASDAQ:CDZI] (“Cadiz”, the “Company”) is pleased to announce that the Los Angeles County Business Federation (“BizFed”), a grassroots alliance of more than 135 local business groups, voted at its May 19, 2015 Board meeting to support the Cadiz Valley Water Conservation, Recovery and Storage Project (“CadizRead More