LOS ANGELES–(BUSINESS WIRE)–Cadiz Inc. (NASDAQ: CDZI) (“Cadiz”, the “Company”) is happy to announce that the Cadiz Water Project, the Company’s public-private partnership with California water suppliers to ship new water provides and groundwater storage for Southern California, was acknowledged at the moment by international infrastructure technique group CG/LA as the Sustainability/Green Infrastructure Project of the Year at the North American Infrastructure Leadership Forum held just about from Washington D.C.. The Infrastructure Project of the Year Awards, that are sponsored by Oracle Construction and Engineering, acknowledge tasks recognized for creating infrastructure alternatives through excellent dedication throughout 5 classes: 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,” stated 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 said: “Access to wash, dependable water is amongst the highest priorities for California and but is troublesome to achieve. Unfortunately, in far too many communities we’ve fallen quick. To resolve this problem it is going to take innovation, cooperation, and dedication to construct, develop and maintain important infrastructure to deliver water from the place it’s to the place it’s wanted.
“Reliable water may also help communities present for housing, jobs and financial alternative the place they’re wanted most. Through our judicially validated public-private partnership and with help from labor and the deprived communities we plan to serve, we imagine we may also 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.”
The Cadiz Water Project is an revolutionary public-private partnership between Cadiz Inc. and Southern California water companies that can use present infrastructure, present transportation corridors, personal property and personal capital to create a brand new water provide for as much as 400,000 individuals a 12 months by decreasing a recurrent lack of groundwater to evaporation in California’s Mojave Desert. In a second section, the Project may even provide groundwater storage for imported surplus provides permitting these provides to be banked for future dry years. The Project presents super advantages to the Southern California area by creating $1 Billion in native financial funding, 5,900 new jobs throughout building, and $6M per 12 months in new revenues to native authorities over the long-term.
The Project has efficiently accomplished a sturdy overview by state and native public companies in accordance with the California Environmental Quality Act (CEQA), the most stringent environmental safety regulation in the nation, and might be ruled by a Court-approved groundwater administration plan overseen domestically by San Bernardino County. Prior to building, the Project should full remaining overview of preparations to convey water inside Southern California’s public water conveyance system.
Founded in 1983, Cadiz Inc. (NASDAQ: CDZI) is a pure sources chief that owns 70 sq. miles of property with vital water sources in Southern California. The Company is the largest agricultural operation in San Bernardino, California, the place it has sustainably farmed since the 1980s and is now actively pursuing a three way partnership to domesticate natural hemp on as much as 9,600 acres. The Company additionally continues to accomplice with public water companies to implement the Cadiz Water Project, which over two phases will create a brand new water provide for roughly 400,000 individuals and make out there as much as 1 million acre-feet of latest groundwater storage capability for the area. Guided by a holistic land administration plan, we’re devoted to pursuing sustainable tasks and working towards accountable stewardship of our land, water and agricultural sources. For extra data, please go to www.cadizinc.com.
FORWARD LOOKING STATEMENT: This launch incorporates forward-looking statements which can be topic to vital dangers and uncertainties, together with statements associated to the future working and monetary efficiency of the Company and the financing actions of the Company. Although the Company believes that the expectations mirrored in our forward-looking statements are affordable, it can provide no assurance that such expectations will show to be right. Factors that would trigger precise outcomes or occasions to vary materially from these mirrored in the Company’s forward-looking statements embrace the Company’s capacity to maximise worth for Cadiz land and water sources, the Company’s capacity to acquire new financing as wanted, the receipt of extra permits for the water venture and different components and concerns detailed in the Company’s Securities and Exchange Commission filings.