Welcome to our dedicated page for CADIZ news (Ticker: CDZI), a resource for investors and traders seeking the latest updates and insights on CADIZ stock.
CADIZ, Inc. (NASDAQ: CDZI) is a pioneering renewable resource company founded in 1983, dedicated to sustainable water and land management solutions across Southern California. The company boasts ownership of over 70 square miles of land in California's eastern Mojave Desert, rich with water resources and ideal conditions for organic farming and land conservation.
Cadiz operates primarily through two segments: Land and Water Resources, and ATEC Water Systems LLC. At its core, Cadiz focuses on the Cadiz Valley Water Conservation, Recovery, and Storage Project, designed to capture and conserve billions of gallons of renewable groundwater currently lost to evaporation. By actively managing the groundwater aquifer system, this project aims to provide a sustainable water supply to various communities and industries throughout Southern California.
The company’s operations span extensive organic farming activities in the Cadiz Valley and management of California’s largest desert tortoise land conservation bank. In line with its commitment to innovative water solutions, Cadiz acquired ATEC Water Systems in 2022, a leader in groundwater filtration technologies.
Recent notable achievements underline Cadiz’s strategic advancements. In February 2024, the company secured a significant financing agreement with Heerema International Group Services BV to bolster its water supply, pipeline, filtration, and storage assets. This agreement included Heerema acquiring a $21.2 million Senior Secured Loan and providing an additional $20 million for capital investments, extending the company’s financial runway to 2027.
Additionally, Cadiz has been proactive in addressing housing needs through strategic water agreements. In March 2024, the company signed a deal with Solstra Communities California LLC to supply water for the development of sustainable housing for military and working families. This agreement highlights Cadiz’s role in supporting California’s housing objectives by ensuring reliable water access for new developments.
Cadiz's commitment to addressing climate change impacts on water access is evident through its robust infrastructure. The company manages 220 miles of pipeline assets and operates extensive water storage facilities, including a dynamic aquifer system capable of storing millions of acre-feet of water. This infrastructure supports Cadiz’s mission to deliver clean, reliable, and affordable water.
In partnership with various water agencies, Cadiz contributes to regional water security initiatives. For instance, the company’s
Cadiz (NASDAQ: CDZI), a California water solutions company, has announced its participation in the iAccess Alpha Virtual Best Ideas Winter Conference 2024 on December 10-11, 2024. Chairman and CEO Susan Kennedy will present on December 10th at 2:30pm ET and conduct one-on-one investor meetings the following day.
The company, founded in 1983, specializes in water supply, storage, pipeline, and treatment solutions. Cadiz's assets include 45,000 acres of California land, 2.5 million acre-feet of water supply, and 220 miles of pipeline infrastructure. The company focuses on providing clean, reliable, and affordable water access while addressing climate change impacts through cost-effective water treatment filtration technology.
Cadiz Inc. (NASDAQ: CDZI) has signed a Letter of Intent with the Lytton Rancheria of California for a historic $50 million investment in the Mojave Groundwater Bank project. This marks the largest investment in water infrastructure off tribal-lands by Native American Tribes in U.S. history. The project, located in California's Mojave Desert, features a massive underground reservoir holding 30-40 million acre-feet of water, exceeding the combined capacity of Lake Mead and Lake Powell. The groundwater bank will include over 300 miles of pipelines and aims to provide clean water to underserved communities. Construction is expected to begin in 2025, with initial water delivery targeted for 2026.
Cadiz (NASDAQ: CDZI) has agreed to purchase 180 miles of steel pipe from the terminated Keystone XL Pipeline Project to expand its water delivery infrastructure. The pipe will be used to connect the company's Mojave Groundwater Bank to major water networks in the Southwestern U.S. This acquisition complements Cadiz's existing 220 miles of pipeline acquired from El Paso Natural Gas in 2021. The company plans to begin construction in 2025. Additionally, Cadiz has secured an LOI for up to $150 million from a non-profit investment fund, with potential total equity funding of $401 million towards the estimated $800 million project cost.
Cadiz Inc. (NASDAQ: CDZI) has announced a $23.38 million registered direct offering of 7,000,000 common stock shares at $3.34 per share. Heerema International Group Services SA, the company's largest shareholder, participated to maintain its 34% ownership. The offering is expected to close around November 5, 2024. The proceeds will fund the development of water supply and groundwater banking projects, including pipeline construction planned for 2025, wellfield infrastructure, business development, and general corporate purposes. B. Riley Securities is acting as the sole placement agent.
Cadiz (NASDAQ: CDZI) and RIC Energy have partnered to build California's largest green hydrogen facility at Cadiz Ranch in the Mojave Desert. The facility will produce 50,000 kilograms of hydrogen daily using 100% solar power on up to 3,000 acres. Cadiz will provide land and up to 500 acre-feet of water annually, while RIC Energy will implement state-of-the-art technologies complying with IRA's Section 45V regulations. The facility's strategic location near rail lines, pipelines, and interstate highways will facilitate distribution to Southern California markets for zero-emission vehicles and electric generation. The project is designated as a Tier 2 ARCHES project under California's Regional Clean Hydrogen Hub initiative.
Cadiz, Inc. (NASDAQ: CDZI) announced that its subsidiary ATEC Water Systems, has secured three new sales contracts totaling $1.6 million for arsenic, iron, and manganese filtration systems. These systems, set for delivery in 2025, will serve nearly 100,000 people in California, Washington, and Oregon, processing up to 10 million gallons per day.
ATEC's growth is driven by tightening water quality regulations and increasing demand for groundwater treatment. Cadiz expects ATEC's gross segment revenues to reach $15 million for fiscal year 2024, with strong growth anticipated in 2025. The company's treatment systems use patent-pending filter media processes to remove common groundwater contaminants, offering scalable solutions for various community sizes and needs.
Cadiz, Inc. (NASDAQ: CDZI / CDZIP) announced that its subsidiary ATEC Water Systems, has hired Steve Green as Chief Commercial Officer. Green brings decades of water industry experience, including business development leadership for Fortune 500 water tech companies in North America. His expertise is expected to drive growth in Cadiz's water treatment segment.
Green has a 25-year career in the water industry, having worked with global leaders in manufacturing and engineering consulting companies specializing in water treatment systems. He has experience in both public and corporate sectors, with a track record of expanding sales and market share.
ATEC's treatment system uses filter media to remove common groundwater contaminants by adsorption. The company has delivered over 400 treatment systems in the last three decades across 10 western states and Canada. ATEC's filters are designed to address various contaminants, including iron, manganese, arsenic, PFAS, and chromium-6.
Cadiz Inc. (NASDAQ: CDZI / CDZIP), a California water solutions company, has announced a quarterly dividend for Q3 2024 on its 8.875% Series A Cumulative Perpetual Preferred Stock. Holders of Series A Preferred Stock will receive a cash dividend of $550.00 per whole share, while holders of depositary shares (Nasdaq: CDZIP) will receive $0.55 per depositary share. The dividend will be paid on October 15, 2024, to holders of record as of the close of business on October 4, 2024.
Cadiz, founded in 1983, is dedicated to providing clean, reliable, and affordable water through various solutions. The company owns 45,000 acres of land in California, has 2.5 million acre-feet of water supply, 220 miles of pipeline assets, and offers cost-effective water treatment filtration technology.
Cadiz Inc. (NASDAQ: CDZI) has appointed Cathryn Rivera as Chief Operating Officer, effective September 16, 2024. Rivera brings 25 years of senior management experience to the company as it prepares to scale operations. She will lead the execution of Cadiz's groundwater banking project and the deployment of water treatment technologies.
Rivera's extensive experience includes serving four California governors and most recently as Appointments Secretary for Governor Gavin Newsom. Her expertise in addressing complex challenges and crisis management is expected to be valuable as Cadiz develops one of the largest groundwater banking projects in the Southwestern U.S.
The company aims to provide water supply and clean water technology to disadvantaged communities in the Colorado River Basin and California's Inland Empire and desert communities, including Tribes lacking access to clean, reliable water.
Cadiz Inc. (NASDAQ: CDZI) has announced two key investor events for September 2024. The company will host its Corporate Update Investor Call on September 19, 2024, at 11:00am ET, led by Chairman and CEO Susan Kennedy. Investors can submit questions until September 18, 5:00pm ET.
Additionally, Cadiz will participate in the Noble Capital Markets Basic Industries Virtual Equity Conference on September 25-26, 2024. Kennedy will present and host one-on-one meetings with investors during this event.
Cadiz, founded in 1983, is a California water solutions company with significant assets, including 45,000 acres of land, 2.5 million acre-feet of water supply, and 220 miles of pipeline. The company focuses on providing clean, reliable, and affordable water through various solutions addressing climate change impacts on water access.
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