TECHNICAL REVIEW PANEL BEGINS WORK ON CADIZ WATER PROJECT

Rhea-AI Summary

Cadiz Inc. (NASDAQ: CDZI, CDZIP) announced the official initiation of the Technical Review Panel (TRP) for its Water Conservation and Storage Project. Comprised of independent scientists in hydrogeology and sustainable groundwater management, the TRP's role is to monitor environmental conditions and establish baseline data prior to project operations. Appointed members include Will Halligan and David Jordan, both experienced experts in the field. The panel will support the Groundwater Management, Monitoring and Mitigation Plan, designed to ensure the sustainable management of groundwater resources. The TRP is expected to be fully operational by the end of February 2023.

Positive

• Initiation of Technical Review Panel (TRP) enhances environmental monitoring.
• Panel consists of experienced scientists, ensuring credible oversight.
• The TRP's work aligns with the Groundwater Management, Monitoring and Mitigation Plan (GM3P).

Negative

• None.

Panel of independent scientists established to set baseline aquifer and watershed conditions in preparation for monitoring of project operations

LOS ANGELES, Feb. 2, 2023 /PRNewswire/ -- Cadiz, Inc. (NASDAQ: CDZI, CDZIP) ("Cadiz," the "Company") announced today that the Technical Review Panel ("TRP") responsible for technical oversight and environmental monitoring of the Cadiz Water Conservation and Storage Project ("Project") has been officially initiated by the County of San Bernardino and the Santa Margarita Water District ("SMWD"). 

The TRP, which is comprised of three independent experts in hydrogeology, hydrology and sustainable groundwater management, is a key component of the Groundwater Management, Monitoring and Mitigation Plan("GM3P") established in 2012 in compliance with the County of San Bernardino's Desert Groundwater Management Ordinance. The GM3P requires the TRP to be in place at least 12 months before the Project commences to establish baseline data on aquifer and watershed conditions for the monitoring program.

In accordance with the GM3P, San Bernardino County and SMWD each appoint one member to the TRP, and the third member is selected by unanimous agreement of those representatives. Nominees named to the TRP include:

• Will Halligan, PG - Senior Principal Hydrogeologist with Luhdorff & Scalmanini, an award-winning California-based groundwater consulting firm with more than 40 years of experience in state-of-the-art groundwater resources planning, protection and management. Mr. Halligan will represent San Bernardino County on the TRP.
• David Jordan, PE, D.WRE – Vice President / Principal Hydrogeologist with Intera, a geosciences and engineering consulting firm and recognized expert in data analysis, quantitative hydrogeology, the application of geographic information systems (GIS) and innovative remote sensing-based techniques to evaluate land use and water-depletion. Mr. Jordan will represent Santa Margarita Water District on the TRP.

"We are excited to begin this baseline data collection and work with the County of San Bernardino," said Dan Ferons, General Manager of SMWD. "We anticipate the TRP will be to fully staffed and operational before the end of the month."

The state-of-the-art GM3P was designed by leading groundwater experts in consultation with San Bernardino County staff during the Project's California Environmental Quality Act review and approval process and includes over 100 separate monitoring elements to ensure that the aquifer system's management is based on sound science with fully-transparent public review:

• 16 Observation wells
• 11 Cluster wells
• Up to 34 production wells
• 20 Land survey benchmarks
• 3 Springs observation and monitoring
• 5 Extensometers for land subsidence monitoring
• 5 Downhole flow meter surveys
• 6 Gamma-ray and dual induction logs at cluster wells to determine changing conditions.
• 4 nephelometers for dust monitoring
• Vegetation monitoring
• 4 Weather stations

Under the GM3P, data on groundwater levels, water quality, air quality, fugitive dust, vegetation and desert springs will be collected and analyzed for review and approval by the TRP with annual reports of the TRP submitted to and approved by the County. The purpose of the monitoring program is to identify any potential adverse impacts in advance and to implement mitigation or preventative measures to avoid overdraft and protect critical resources before, during or after the post operational phases of the Project.

About Cadiz Inc.

Founded in 1983, Cadiz Inc. (NASDAQ: CDZI) is a California water solutions company dedicated to providing access to clean, reliable and affordable water for people through a variety of innovative water supply, storage, conveyance and treatment projects. For more information, please visit www.cadizinc.com.

FORWARD LOOKING STATEMENT: This release contains forward-looking statements that are subject to significant risks and uncertainties. Although Cadiz Inc. believes that the expectations reflected in our forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Factors that could cause actual results or events to differ materially from those reflected in Cadiz Inc.'s forward-looking statements include the receipt of additional permits for its water projects and other factors and considerations detailed in Cadiz Inc.'s Securities and Exchange Commission filings.

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SOURCE Cadiz Inc.

FAQ

What is the purpose of the Technical Review Panel for Cadiz's project?

The Technical Review Panel (TRP) is established to monitor environmental conditions and ensure baseline data collection for the Cadiz Water Conservation and Storage Project.

Who are the members of the Technical Review Panel for the Cadiz Water Project?

The TRP includes Will Halligan, Senior Principal Hydrogeologist, and David Jordan, Vice President and Principal Hydrogeologist, both renowned experts in groundwater management.

What is the significance of the Groundwater Management, Monitoring and Mitigation Plan (GM3P) for Cadiz?

The GM3P requires the TRP to establish baseline data on aquifer conditions to ensure sustainable groundwater management and prevent resource overdraft.

When is the Technical Review Panel expected to be fully operational?

The TRP is anticipated to be fully staffed and operational by the end of February 2023.

What are the main components of the monitoring program in the GM3P?

The monitoring program includes 16 observation wells, 20 land survey benchmarks, and various other tools for monitoring groundwater levels and quality.