Cadiz signs MOU with EPCOR to jointly develop Mojave Groundwater Bank; 25,000 AFY for Arizona

CADIZ INC

Cadiz grants EPCOR exclusive rights to market 25,000 acre-feet/year of conserved water to Arizona off-takers.
EPCOR to design, build, and finance a portion of the Southern Pipeline to convey water to the Colorado River Aqueduct.
Parties intend to negotiate a long-term Operation and Maintenance Agreement for EPCOR to run the Mojave Groundwater Bank.
Exclusivity and confidentiality provisions are binding; project development terms are non-binding.
MOU paves way for binding agreements; regulatory approvals and funding still required.

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