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.
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Cadiz, Inc. secures a $57 million credit agreement, with $20 million allocated for water supply project development in Southern California. The financing strengthens the company's financial position, extends debt maturities, and receives strong support from shareholders and lenders, notably Heerema International Group Services SA.
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Cadiz, Inc. appoints Barbara Lloyd, a seasoned professional in project finance and infrastructure financing, to its Board of Directors. Lloyd's extensive experience in public-private partnerships and innovative financing strategies will be instrumental as Cadiz ventures into water infrastructure projects.
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Cadiz, Inc. announces a new financing agreement with Heerema International Group Services BV to acquire a $21.2 million Senior Secured Loan and provide an additional $20 million for capital investments. The agreement extends the Maturity Date of the combined loan to 6/30/2027, with no debt due prior to 2027. Heerema's support aligns with Cadiz's strategic objectives, focusing on clean water infrastructure solutions.
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Cadiz, Inc. announced that the City of Adelanto, California has signed a Letter of Intent with Fenner Gap Mutual Water Company to join Victor Valley water agencies in developing an integrated water management and infrastructure investment plan for the Mojave Basin region. This collaboration aims to improve the reliability and quality of local water supplies through the Cadiz Water Conservation, Supply, and Storage Project. The project will provide 25,000 acre-feet of water to the City of Adelanto, with the goal of creating a sustainable, reliable water supply strategy for the Mojave Basin. The 'One Water' regional planning process will allow pooling of resources to manage water supplies and efficiently invest in water infrastructure that benefits the whole region.
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Cadiz, Inc. announced a partnership between Fenner Gap Mutual Water Company and Victor Valley Wastewater Reclamation Authority to develop a coordinated investment strategy for water infrastructure in San Bernardino County's Mojave Basin region. The 'one water' plan aims to integrate public, private, and multi-agency financing resources to improve water quality and increase reliability of local water supplies. The plan includes recycled water from VVWRA's wastewater treatment plants and water supplies from Cadiz to create a regional water management strategy. The collaboration also involves other local agencies to expand pipeline and distribution facilities, advanced water treatment, and collaborative recharge basins to capture storm water and manage imported water supplies.
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Cadiz, Inc. (NASDAQ: CDZI, NASDAQ: CDZIP) declares a cash dividend of $560.00 per whole share for its 8.875% Series A Cumulative Perpetual Preferred Stock and approximately $0.56 per depositary share, to be paid on January 15, 2024, to respective holders of record as of January 4, 2024.
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Cadiz, Inc. (NASDAQ: CDZI/CDZIP) has received approval from the U.S. Bureau of Land Management for the assignment of a Mineral Leasing Act right-of-way grant, allowing the company to advance project development for its Northern Pipeline, a crucial component for clean water and clean energy projects. The acquisition of the 220-mile pipeline from El Paso Natural Gas is a significant milestone for Cadiz, enabling the repurposing of existing fossil fuel infrastructure to support climate adaptation initiatives.
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Cadiz, Inc. (NASDAQ: CDZI) receives approval from the U.S. Bureau of Land Management for the assignment of a Mineral Leasing Act right-of-way grant for the Northern Pipeline, allowing the company to advance clean water and clean energy projects. The acquisition of the 220-mile pipeline from El Paso Natural Gas is a significant milestone for Cadiz's development.
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Cadiz, Inc. (NASDAQ: CDZI/CDZIP) announces Susan Kennedy's appointment as CEO, with Scott Slater continuing as Senior Advisor. The company plans to create two new executive positions for project development.
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Cadiz, Inc. (NASDAQ: CDZI/CDZIP) celebrates ATEC Water Systems' success and anticipates revenues surpassing $12 million in FY 2024. ATEC's specialized water filtration solutions for contaminated groundwater have secured contracts, including a significant one with Central Utah Water Conservancy District, and are expected to generate substantial revenues. The company's cost-effective, high-rate filtration media effectively remove iron, manganese, arsenic, and chromium-6, addressing urgent clean water needs in affected communities. ATEC's potential for positive operating income of $3-4 million in FY 2024 demonstrates its promising future.
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FAQ
What is the current stock price of Cadiz (CDZIP)?
The current stock price of Cadiz (CDZIP) is $18.4727 as of March 3, 2025.
What is Cadiz Inc.'s primary business?
Cadiz Inc. focuses on water supply, groundwater storage, pipeline infrastructure, and water treatment solutions to address water scarcity and climate change impacts.
What is the Mojave Groundwater Bank?
The Mojave Groundwater Bank is a large-scale groundwater storage project developed by Cadiz Inc., designed to capture and conserve up to 30-50 million acre-feet of water for sustainable use.
What is ATEC Water Systems?
ATEC Water Systems, a subsidiary of Cadiz Inc., provides specialized water filtration systems to remove contaminants like iron, manganese, and arsenic from groundwater.
How does Cadiz support renewable energy?
Cadiz is partnering with RIC Energy to build California's largest green hydrogen facility, utilizing solar energy and water resources to produce renewable hydrogen for zero-emission applications.
Who are Cadiz Inc.'s key partners?
Cadiz collaborates with Native American tribes, local water agencies, and renewable energy firms to develop sustainable water and energy solutions.
What challenges does Cadiz address?
Cadiz tackles water scarcity, groundwater contamination, and the need for sustainable water infrastructure in arid regions like California.
How does Cadiz contribute to environmental justice?
Cadiz partners with underserved communities and indigenous tribes to provide equitable access to clean, reliable water resources.
What is Cadiz's role in water infrastructure development?
Cadiz is expanding its pipeline network and repurposing materials like Keystone XL pipeline steel to create efficient water transportation systems.
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