CEO Susan Kennedy Also Comments on State
Report Predicting Climate Change Will Reduce SWP Supplies by as
much as 23% over 20 years
LOS
ANGELES, Aug. 8, 2024 /PRNewswire/ -- Cadiz, Inc.
(NASDAQ: CDZI / CDZIP) ("Cadiz" or the "Company"), a California water solutions company, announced
today the release of a new video focused on the hydrogeology of the
watershed surrounding the Company's Cadiz Ranch in California's eastern Mojave Desert. The Cadiz
Aerial Tour video utilizes new photography, underground imagery and
aerial footage to bring to life the vast and unique aquifer system
flowing beneath Cadiz Ranch. With as much as 30-50 million
acre-feet of water in storage today, the 2,000 square mile aquifer
system at Cadiz contains more water than Lake Mead, the largest
reservoir in the United States.
The water flowing through the aquifer has supported sustainable
agriculture operations at Cadiz Ranch for four decades.
The new video was released on the heels of a new report from the
State of California Department of Water Resources projecting that
climate change will reduce water supplies from the California State
Water Project ("SWP") by up to 23% over the next 20 years. Built in
1960, the SWP pumps water supplies more than 700 miles from
Northern California to
Southern California through a
system of pumps, aqueducts and open reservoirs. Many desert
communities in Southern California
rely on imports from the SWP to replenish over-drafted groundwater
basins and emergency supplies during droughts.
Cadiz CEO Susan Kennedy
commented: "This new report underscores the need for better ways to
capture, conserve and store water supplies in Southern California. These massive natural
groundwater banks in California's
desert like Cadiz are the key to water security for Southern California."
Cadiz Ranch in San Bernardino County,
California sits at the base of a 2,000 square mile watershed
system roughly four times the size of the City of Los Angeles. The video released today
provides an aerial tour of this remote corner of California desert
crisscrossed by railroads, interstate highways, gas and power
lines. The video takes the viewer from the summits of the New York
Mountains at 7,500 feet to a thousand feet underground, tracing the
movement of water through this dynamic watershed and aquifer system
where it seeps to the surface, turns to brine and evaporates at
desert dry lakes.
Cadiz is in the process of developing the largest new
groundwater banking operation in the Southwestern U.S., which
includes capturing and conserving groundwater before it is lost to
evaporation. When operational, conserved water supplies will be
transported through underground pipelines to support local
communities in San Bernardino and
Riverside Counties as part of the
Company's water supply and storage project.
To view the new Cadiz Aerial Tour, visit the Company's
YouTube Channel or directly at AERIAL TOUR VIDEO.
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
https://www.cadizinc.com.
Forward-Looking Statements
This release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements include but are not limited to
statements about our plans for our conserved water supplies
and their intended use. Although the Company believes that
the expectations reflected in our forward-looking statements are
reasonable, we 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 are detailed in the Company's Securities
and Exchange Commission filings, including our Annual Report on
Form 10-K for the year ended December 31, 2023 and subsequent
quarterly and current reports. We undertake no obligation to
publicly update any forward-looking statement, whether written or
oral, that may be made from time to time, whether as a result of
new information, future developments or otherwise.
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SOURCE Cadiz, Inc.