Cadiz partners with RIC Energy to build green hydrogen facility on 3,062 acres at Cadiz Ranch

CADIZ INC

RIC will build self-sufficient off-grid green hydrogen plant producing 50 tons/day using solar power on up to 3,062 acres.
Cadiz to supply up to 500 acre-feet of water/year at $850/AF (2024 dollars); total ~$11.5M over 27-year operations term.
Lease has development term (3 yrs, $25k-$45k/yr), construction term (3 yrs, $1k/acre/yr + CPI), and 27-yr operations term (renewable up to 30 more yrs).
RIC can terminate during development term with 15 days' notice; Cadiz may terminate on uncured payment default.
Project is a Tier 2 ARCHES project eligible for DOE hydrogen hub funding; expected to supply California’s clean transportation market.

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