Cadiz signs 40-year water supply deal with Cucamonga Valley Water District for up to 5,000 AFY

CADIZ INC

CVWD to purchase up to 5,000 acre-feet per year from Cadiz's Water Project via Northern Pipeline.
Target delivered price of $1,000/AF; maximum price capped at $1,650/AF (lesser of that or IEUA recycled water rate minus 15%).
Cadiz expects net revenue of $850/AF in 2024 dollars, totaling ~$170M over 40 years with annual inflation adjustments.
Together with other agreements, 85% of Northern Pipeline's 25,000 AFY capacity is now committed.
Agreement has a 30-year term extendable; deliveries subject to conditions precedent and completion of conveyance facilities.

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