Welcome to our dedicated page for Cadiz news (Ticker: CDZIP), a resource for investors and traders seeking the latest updates and insights on Cadiz stock.
About Cadiz Inc.
Cadiz Inc. (NASDAQ: CDZI / CDZIP) is a California-based water solutions company dedicated to addressing the critical challenges of water scarcity and climate change through innovative and sustainable practices. Founded in 1983, the company owns over 45,000 acres of land in the Mojave Desert, underpinned by a vast aquifer system containing an estimated 30-50 million acre-feet of water. This aquifer system, larger than Lake Mead, positions Cadiz as a pivotal player in securing water resources for Southern California and beyond.
Core Business Areas
- Water Supply and Storage: Cadiz operates one of the largest groundwater banking projects in the Southwestern U.S., the Mojave Groundwater Bank. This project captures and conserves groundwater that would otherwise evaporate, providing a sustainable water supply for underserved and disadvantaged communities.
- Pipeline Infrastructure: With 220 miles of existing pipeline assets and plans to incorporate 180 miles of repurposed steel pipe from the Keystone XL project, Cadiz is creating an extensive water transportation network to connect its groundwater bank to major water systems in California.
- Water Treatment Solutions: Through its subsidiary, ATEC Water Systems, LLC, Cadiz offers specialized filtration systems that address contaminants such as iron, manganese, arsenic, and nitrates, ensuring access to clean and safe drinking water for communities nationwide.
- Renewable Energy Integration: Cadiz is partnering with RIC Energy to develop California's largest green hydrogen facility at its Mojave Desert site. This initiative leverages solar energy and water resources to produce renewable hydrogen, supporting zero-emission transportation and energy independence.
Strategic Partnerships and Community Impact
Cadiz is deeply committed to fostering partnerships that promote environmental justice and community development. The company collaborates with Native American tribes, such as the Lytton Rancheria of California, to ensure equitable access to water resources and empower indigenous communities. Additionally, Cadiz's "One Water" initiative in San Bernardino County exemplifies its dedication to integrated water management strategies that benefit both local ecosystems and growing populations.
Competitive Advantages
- Unique Water Assets: The company's extensive land holdings and aquifer system provide a renewable and scalable water supply unmatched in the region.
- Innovative Technologies: ATEC's advanced water treatment solutions and the integration of green hydrogen production demonstrate Cadiz's commitment to cutting-edge, sustainable practices.
- Strategic Location: Situated at the crossroads of major transportation infrastructure, Cadiz's facilities are ideally positioned to serve California's water and energy needs efficiently.
Industry Significance
As climate change intensifies water scarcity in the Southwestern United States, Cadiz Inc. stands out as a leader in providing sustainable water solutions. The company's holistic approach—combining water supply, storage, treatment, and renewable energy—addresses both immediate and long-term challenges. By aligning its operations with environmental and community-focused values, Cadiz is not only meeting critical water needs but also setting a benchmark for responsible resource management in the 21st century.
Cadiz Inc. (NASDAQ: CDZI) has partnered with Stantec Inc. (NYSE: STN) to oversee the development and construction of the $800M Mojave Groundwater Bank project, set to be the Southwest's largest new water infrastructure project. The project will provide:
- 2.5 million acre-feet of new water supply
- 1 million acre-feet of underground storage capacity
- 350+ miles of pipeline network between Colorado River and California Aqueducts
Located at a 2,000 square mile watershed system base, the aquifer system currently holds 30-50 million acre-feet of groundwater. At the end of 2024, Cadiz announced a historic partnership with Native American Tribes to construct, own, and operate the project, marking the first large-scale water infrastructure project off tribal lands in U.S. history.
Cadiz Inc. (NASDAQ: CDZI), a California water solutions company, has scheduled a quarterly Corporate Update Call for investors on January 22, 2025, at 11:00am ET. Chairman and CEO Susan Kennedy will present the company's 2024 milestone achievements and outline 2025 objectives.
Investors and analysts can submit questions in advance until 5:00pm ET on January 21, 2025, via CDZI@mzgroup.us. The call will be accessible through both domestic (1-877-407-0779) and international (1-201-389-0914) dial-in numbers, with a webcast option available on the company's investor relations website.
Founded in 1983, Cadiz operates with 45,000 acres of California land, 2.5 million acre-feet of water supply, 220 miles of pipeline assets, and specialized water treatment filtration technology, focusing on providing clean, reliable, and affordable water solutions to address climate change impacts.
Cadiz Inc. (NASDAQ: CDZI) has announced a quarterly dividend declaration for Q4 2024 on its 8.875% Series A Cumulative Perpetual Preferred Stock. Shareholders will receive $560.00 per whole share, while holders of depositary shares (CDZIP) will receive $0.56 per depositary share. The dividend will be paid on January 15, 2025, to holders of record as of January 3, 2025.
The company, founded in 1983, is a California water solutions provider with 45,000 acres of land, 2.5 million acre-feet of water supply, and 220 miles of pipeline assets, focusing on clean water access solutions to address climate change impacts.
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.
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