Cadiz Water Project Recognized as Top Green Infrastructure Project at the North American Infrastructure Leadership Forum
October 28 2020 - 3:57PM
Business Wire
Cadiz Inc. (NASDAQ: CDZI) (“Cadiz”, the “Company”) is pleased to
announce that the Cadiz Water Project, the Company’s public-private
partnership with California water providers to deliver new water
supplies and groundwater storage for Southern California, was
recognized today by global infrastructure strategy organization
CG/LA as the Sustainability/Green Infrastructure Project of the
Year at the North American Infrastructure Leadership Forum held
virtually from Washington D.C.. The Infrastructure Project of the
Year Awards, which are sponsored by Oracle Construction and
Engineering, recognize projects identified for creating
infrastructure opportunities via outstanding commitment across five
categories: Job Creation, Sustainability/Green Infrastructure,
Finance/Funding, Engineering, and Strategic
“Infrastructure projects change people’s lives and we remain
committed to supporting transformational, innovative and
sustainable projects like the Cadiz Water Conveyance Project that
can help ignite our economy and create opportunity for all
communities as we move beyond the COVID-19 pandemic,” said Norman
Anderson Chairman and CEO of CG/LA Infrastructure, host of the
Forum.
Scott Slater, CEO and President of Cadiz, accepted the award for
the Company and stated: “Access to clean, reliable water is among
the highest priorities for California and yet is difficult to
attain. Unfortunately, in far too many communities we have fallen
short. To solve this challenge it will take innovation,
cooperation, and commitment to build, develop and sustain critical
infrastructure to bring water from where it is to where it is
needed.
“Reliable water can help communities provide for housing, jobs
and economic opportunity where they are needed most. Through our
judicially validated public-private partnership and with support
from labor and the disadvantaged communities we plan to serve, we
believe we can help.
“We are grateful for CG/LA’s efforts to shine a light on the
need for bi-partisan and multi-disciplinary commitment to
infrastructure in the U.S. and for highlighting our enduring
commitment to sustainability as we continue our efforts to be part
of the solution to California’s systemic water supply
challenges.”
About the Cadiz Water Project
The Cadiz Water Project is an innovative public-private
partnership between Cadiz Inc. and Southern California water
agencies that will use existing infrastructure, existing
transportation corridors, private property and private capital to
create a new water supply for up to 400,000 people a year by
reducing a recurrent loss of groundwater to evaporation in
California’s Mojave Desert. In a second phase, the Project will
also offer groundwater storage for imported surplus supplies
allowing these supplies to be banked for future dry years. The
Project offers tremendous benefits to the Southern California
region by creating $1 Billion in local economic investment, 5,900
new jobs during construction, and $6M per year in new revenues to
local government over the long-term.
The Project has successfully completed a robust review by state
and local public agencies in accordance with the California
Environmental Quality Act (CEQA), the most stringent environmental
protection law in the nation, and will be governed by a
Court-approved groundwater management plan overseen locally by San
Bernardino County. Prior to construction, the Project must complete
final review of arrangements to convey water within Southern
California’s public water conveyance system.
About Cadiz Inc.
Founded in 1983, Cadiz Inc. (NASDAQ: CDZI) is a natural
resources leader that owns 70 square miles of property with
significant water resources in Southern California. The Company is
the largest agricultural operation in San Bernardino, California,
where it has sustainably farmed since the 1980s and is now actively
pursuing a joint venture to cultivate organic hemp on up to 9,600
acres. The Company also continues to partner with public water
agencies to implement the Cadiz Water Project, which over two
phases will create a new water supply for approximately 400,000
people and make available up to 1 million acre-feet of new
groundwater storage capacity for the region. Guided by a holistic
land management plan, we are dedicated to pursuing sustainable
projects and practicing responsible stewardship of our land, water
and agricultural resources. 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,
including statements related to the future operating and financial
performance of the Company and the financing activities of the
Company. Although the Company 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 the Company’s forward-looking
statements include the Company’s ability to maximize value for
Cadiz land and water resources, the Company’s ability to obtain new
financing as needed, the receipt of additional permits for the
water project and other factors and considerations detailed in the
Company’s Securities and Exchange Commission filings.
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version on businesswire.com: https://www.businesswire.com/news/home/20201028006145/en/
Media:
Cadiz, Inc. Courtney Degener 213-271-1603 (o)
703-888-6054 (m) cdegener@cadizinc.com
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