Welcome to our dedicated page for Cadiz Depositary Shares news (Ticker: CDZIP), a resource for investors and traders seeking the latest updates and insights on Cadiz Depositary Shares stock.
Cadiz Inc is a land and water resource development company in California. Its primary business is to acquire and develop land with water resources for various uses, including groundwater supply, groundwater storage, and agriculture. The company focuses on the development of the Cadiz Valley Water Conservation, Recovery and Storage Project which will capture and conserve native groundwater currently being lost to evaporation from the aquifer system beneath the property of Cadiz and Fenner valleys of eastern San Bernardino County, and deliver it to water providers throughout Southern California. The company operates in two segment- Land and Water Resources and ATEC Water Systems LLC.
The Company maintains an organic agricultural operation at its primary property in the Cadiz Valley and manages the largest desert tortoise land conservation bank in California. Cadiz is dedicated to providing access to clean, reliable, and affordable water for people through a unique combination of water supply, storage, pipeline, and treatment solutions. The company offers a full suite of solutions to address the impacts of climate change on clean water access.
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.
Cadiz Inc. (NASDAQ: CDZI), a California water solutions company, has announced its participation in the Q3 Virtual Investor Summit Microcap Event on August 20, 2024. The company's management will deliver a virtual presentation at 9:30 am ET and be available for one-on-one meetings throughout the day.
The event focuses on 50 micro-cap companies with strong catalysts or performance in the current market. It offers investors an opportunity to engage with Cadiz management and gain insights into the company's operations and future prospects. Qualified investors can attend the event complimentarily by registering through the provided link.
Cadiz, Inc. (NASDAQ: CDZI) has announced securing water purchase agreements for 85% of capacity of its Northern Pipeline, following the execution of the fifth agreement in 2024. The cumulative total under contract is now 21,275 acre-feet per year, with contracts spanning 40-50 years. The Northern Pipeline, stretching 220 miles, has a total capacity of 25,000 AFY. Cadiz expects to begin construction of the Project in 2025, with initial water delivery targeted for 2026.
The company anticipates net revenue of approximately $850 per AF in 2024 dollars, subject to annual adjustments. Cadiz is also planning to contract for water delivery via the Southern Pipeline later this year, which will enable an additional 25,000 acre-feet per year of water supply. The company is working on forming a Master Partnership to fund the Project's capital infrastructure costs.
Cadiz, Inc. (NASDAQ: CDZI) has released a new aerial tour video showcasing the hydrogeology of the watershed surrounding its Cadiz Ranch in California's eastern Mojave Desert. The video highlights a vast aquifer system containing 30-50 million acre-feet of water, more than Lake Mead. This release follows a state report projecting a 23% reduction in California State Water Project supplies over 20 years due to climate change.
CEO Susan Kennedy emphasized the importance of natural groundwater banks like Cadiz for Southern California's water security. The company is developing the largest new groundwater banking operation in the Southwestern U.S., which will capture and conserve groundwater before evaporation. The project aims to support local communities in San Bernardino and Riverside Counties through underground pipelines.
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