secwatch.observer — SEC 8-K summary
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Issuer:     CADIZ INC (CDZI)
CIK:        0000727273
Form:       8-K
Filed at:   2024-10-23T23:59:59+00:00
Accession:  0001213900-24-089834
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/727273/000121390024089834/0001213900-24-089834-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/727273/000121390024089834/ea0218385-8k_cadiz.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-089834

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