A veteran of the public finance industry, Lloyd
brings over thirty years of experience in capital markets,
government and infrastructure finance, including leadership
positions at KPMG and the California State Treasurers Office.
LOS
ANGELES, March 1, 2024 /PRNewswire/ -- Cadiz, Inc.
(NASDAQ: CDZI / CDZIP, the "Company") announced that Barbara Lloyd, a leading professional in the
project finance industry with deep experience in public-private
infrastructure financing in California, was appointed today to the
Company's Board of Directors.
"Barbara is exactly the experienced veteran we need as we move
into the development phase of our water infrastructure projects,"
said Susan Kennedy, Chairman and CEO
of Cadiz. "Cadiz will be the first Company in the world to convert
natural gas pipelines for water conveyance. Barbara's
knowledge and experience will be a tremendous asset to the company
as a Director."
"I have built my career creating financial solutions at the
critical nexus between public policy, infrastructure, and capital
markets. Large-scale infrastructure development requires
coordination, vision and innovative financing strategies. I am
excited to join the Cadiz Board and be part of the solution in
addressing the impacts of climate change on California's infrastructure and access to
clean, affordable water," said Director Lloyd.
Director Lloyd is Founder and CEO of IMPACTS USA Advisory Services, a private consulting
firm advising governments, developers and investors on innovative
capital asset strategies, including public-private partnerships for
complex infrastructure projects such as California High-Speed Rail.
IMPACTS advisory clients include the University of California and the California
Departments of Transportation and Veterans Affairs. She also
advised the state Department of Water Resources and the cities of
Los Angeles, Oakland and San
Jose at prior employers.
Prior to founding IMPACTS, Lloyd served as a Managing Director
for KPMG Corporate Finance, a global leader in alternative
financing and delivery options for complex infrastructure projects
and governmental facilities. Previously, Lloyd served as Chief
Deputy Treasurer and Deputy Treasurer for Public Finance for the
California State Treasurers Office where she led multiple
high-profile, complex bond transactions, such as California's $11
billion Power Supply Revenue Bonds, then the largest
municipal bonds ever issued (2002), and $12.3 billion Economic Recovery Bonds, including
the largest single-day issuance in municipal bond history, at
$7.9 billion (2004). In her role at
the State Treasurers Office, Lloyd also served as chief negotiator
and senior spokesperson with rating agencies, credit enhancement
providers, investors, governmental agencies, and other bond market
participants.
Lloyd's expansive financial career also includes roles in senior
executive public finance positions at Lehman Brothers Public
Finance, acquired by Barclays, and Leifer Capital, now KNN Public
Finance. She led banking transactions for the State of California, Los Angeles Department of
Water and Power; California Department of Veterans Affairs; Irvine
Ranch Water District; San Diego
County; City of Oakland;
and California Communities JPA. Lloyd began her career as chief of
staff in the 14th California State Assembly district and
also served as treasury manager for the City of Oakland.
Lloyd has an MBA from Stanford
University and a B.A. in Political Science from UC
Davis.
Lloyd's appointment filled an existing vacancy on the Cadiz
Board and is effective immediately. The Board also appointed Lloyd
to serve on the Audit & Risk and Compensation committees. The
appointment of Lloyd makes the Cadiz Board a majority women
directors for the first time in the Company's history.
About Cadiz, Inc.
Founded in 1983, Cadiz, Inc.
(NASDAQ: CDZI) is a California
water solutions company dedicated to providing access to clean,
reliable and affordable water for people through a unique
combination of water supply, storage, pipeline and treatment
solutions. With 45,000
acres of land in California, 2.5 million acre-feet of water supply,
220 miles of pipeline assets and the most
cost-effective water treatment filtration technology in the
industry, Cadiz offers a full suite of solutions to address the
impacts of climate change on clean water access.
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 Company's
ability to secure any additional necessary permits for project
development. 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 potential litigation that may delay project
development, the Company's ability to obtain financing as needed,
and other factors and considerations detailed in the Company's
Securities and Exchange Commission filings.
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SOURCE Cadiz, Inc.
