Cadiz signs water supply deal with Golden State Water for 5,000 AFY at $1,450/AF

CADIZ INC

GSWC will purchase 5,000 acre-feet/year from Cadiz’s Project at ~$1,450/AF in 2024 dollars, adjusted annually.
Cadiz expects net revenue of $850/AF after costs; payments begin when conditions and construction complete.
Agreement uses Cadiz’s Northern Pipeline (capacity 25,000 AFY); this and other deals represent ~60% of capacity.
Parties to jointly pursue grant funding to offset capital costs; grant credits reduce water price for GSWC.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CADIZ INC entered into GSWC Agreement with Golden State Water Company (effective 2024-03-13).

Action: entry
Agreement: supply
Counterparty: Golden State Water Company
Effective: 2024-03-13

Exact text from the filing

On March 13, 2024, Cadiz Inc. (the “Company” or “Cadiz”) and Fenner Gap Mutual Water Company entered into a water supply agreement with Golden State Water Company (“GSWC”), an investor-owned utility serving the City of Barstow, California (“GSWC Agreement”).

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565 material agreements filed in the last 30 days. Browse all material agreements →

CADIZ INC filing history →

Source: SEC EDGAR

accession 0001437749-24-007757

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