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 / 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.
Cadiz Inc. (NASDAQ: CDZI) has appointed David Sickey, former Chairman of the Coushatta Tribe, as Senior Advisor for Energy and Water Projects. Sickey, with 18 years of tribal government experience, recently served as Senior Consultant to the U.S. Department of Energy's Loan Programs Office, focusing on the Tribal Energy Finance Program. His role at Cadiz will involve assisting with energy and water infrastructure financing.
Sickey's expertise in financing large-scale energy and infrastructure projects aligns with Cadiz's move into the financing and construction phase of its water infrastructure projects. The company, with 45,000 acres of land and water in the Mojave Desert, is developing one of the largest groundwater banking projects in the Southwestern U.S. and providing water supply and clean water technology to disadvantaged communities in the Colorado River Basin and California's desert areas.
Cadiz, Inc. (NASDAQ: CDZI) announced that its subsidiary ATEC Water Systems secured three new sales contracts for iron and manganese filtration systems, expected to generate $1.5 million in sales revenue in 2024. The systems will treat groundwater supplies in Wisconsin, Nevada, and Washington state, serving diverse communities including the University of Wisconsin at Madison, Portland suburbs, and rural Nevada clean energy development.
ATEC's specialized filter systems address the growing global threat of contaminated groundwater, particularly in underserved communities. The company has manufactured and delivered over 400 iron and manganese filter systems in the past three decades. ATEC's technology is positioned as an affordable and effective solution for communities affected by these contaminants throughout North America.
Cadiz, a California water solutions company, announced a quarterly cash dividend for Q2 2024 on its 8.875% Series A Cumulative Perpetual Preferred Stock. Holders of Series A Preferred Stock will receive $560.00 per share, while holders of depositary shares (representing 1/1000 of a share) will receive $0.56 per depositary share. The dividend will be paid on July 15, 2024, to holders of record as of July 5, 2024. Cadiz, founded in 1983, owns 45,000 acres of land in California, a 2.5 million acre-feet water supply, and 220 miles of pipeline assets.
Cadiz has signed a definitive agreement with Santa Margarita Water District (SMWD) for the delivery of 5,000 acre-feet per year (AFY) of water through its Northern Pipeline. This 50-year take or pay contract, approved unanimously by SMWD's board on June 5th, sets a price cap at $1,650 per acre-foot, covering all costs. This agreement follows a term sheet signed in February 2024. The contract will support infrastructure financing for the pipeline, expected to be operational by 2026. The agreement allows SMWD to diversify water sources, reducing reliance on the Colorado River and State Water Project resources. SMWD already holds rights to acquire up to 15,000 AFY from the Cadiz Project via the Colorado River Aqueduct. Currently, Cadiz has contracts covering 65% of the Northern Pipeline's capacity and is negotiating for the remaining capacity.
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