Cadiz Signs Northern Pipeline Delivery Agreement with Santa Margarita Water District
SMWD, Cadiz sign agreement for 5,000 AFY of water via Northern Pipeline with price cap of $1,650 AFY
LOS ANGELES, June 20, 2024 /PRNewswire/ — Cadiz, Inc. (NASDAQ: CDZI / CDZIP) (“Cadiz” or the “Company”), a California water solutions company, today announced that the Company signed a definitive agreement with Santa Margarita Water District (“SMWD”) to deliver water from the Cadiz Water Supply and Storage Project in the Mojave Desert through the Company’s Northern Pipeline. SMWD’s board of directors approved the agreement by unanimous vote at the agency’s board meeting on June 5th. The 50-year take or pay agreement with SMWD follows the previously announced term sheet entered into with SMWD in February 2024.