Adelanto
joins Fenner Gap and Victor Valley
water agencies in regional planning, infrastructure investment
strategy to improve reliability and quality of local water
supplies.
LOS
ANGELES, Feb. 1, 2024 /PRNewswire/ -- Cadiz, Inc.
(NASDAQ: CDZI / CDZIP, the "Company") announced today that the
City of Adelanto, California has
signed a Letter of Intent with Fenner Gap Mutual Water Company
("Fenner Gap") to join Victor
Valley water agencies in developing an integrated water
management and infrastructure investment plan for the Mojave Basin region. As part of the agreement,
Fenner Gap will provide 25,000 acre-feet of water to the
City of Adelanto from the Cadiz
Water Conservation, Supply and Storage Project.
Fenner Gap will provide 25,000 acre-feet of
water to the City of
Adelanto
By signing the Letter of Intent, the City of Adelanto joins Fenner Gap, Victor
Valley Wastewater Reclamation Authority ("VVWRA") and local
Victor Valley water agencies in
launching the Mojave – San
Bernardino "One Water" plan, an
ambitious plan to integrate public, private and multi-agency
financing resources and maximize grant and municipal financing
opportunities for the design, construction and operation of
regional water infrastructure including pipelines, groundwater
recharge basins, groundwater storage banks and water treatment
facilities benefitting the entire Mojave Basin region.
"We are proud to work with the City of
Adelanto as part of this important regional effort to
develop a sustainable, reliable water supply
strategy," said Susan Kennedy, Chief
Executive Officer of Cadiz. "Coordinating
infrastructure investments and groundwater replenishment strategies
on a regional basis will improve the health and reliability of
water supplies not only for Adelanto, but for all communities in the
Mojave Basin."
"Adelanto is one of the fastest
growing cities in the High Desert," said Mayor Gabriel Reyes. "But we cannot thrive and grow
without clean, affordable water and the infrastructure to deliver
that water to people. This "one water" regional planning process
will allow us to pool our resources to manage water supplies and
efficiently invest in water infrastructure that benefits the whole
Mojave Basin."
In accordance with the LOI, Adelanto and Fenner Gap will enter a
definitive agreement reserving up to 25,000 AF of water from the
Cadiz Project as supplemental water supply for the City of Adelanto. Under the LOI, Project water
would be delivered to designated points of delivery within the
Mojave River Basin on a space available basis. The cost of the
water will be limited to the actual incremental expense of pumping,
delivery and exchange. A copy of the Letter of Intent is
attached.
The Mojave-San Bernardino County One Water Project was launched
by VVWRA as a collaboration among public agencies and water
providers in eastern San Bernardino
County to develop a regional, integrated and sustainably
managed water system that considers the current and future needs of
all its users, meets human needs with environmental best practices,
and makes cost-effective investments in infrastructure to preserve
access and affordability for all. Under the plan, pipelines,
groundwater recharge basins, water supply, groundwater storage
banks and water treatment facilities in Mojave River Basin,
Fenner Valley and Morongo Basin
would be integrated for the benefit of the region.
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.
Fenner Gap Mutual Water Company is the non-profit corporation
established by Cadiz to distribute water supplies from the Cadiz
Water Conservation, Supply and Storage Project.
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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/city-of-adelanto-to-join-mojave-basin-one-water-plan-302050656.html
SOURCE Cadiz, Inc.