AFY

New Pacific Institute Report Finds Substantial Opportunity for Urban Stormwater Capture to Enhance Water Resilience in Communities Across the United States

Retrieved on: 
Thursday, February 29, 2024

While the findings are specific to the United States, insights from the assessment can inform water resilience strategies globally.

Key Points: 
  • While the findings are specific to the United States, insights from the assessment can inform water resilience strategies globally.
  • It’s time to elevate the role of stormwater capture in the national water conversation,” said Dr. Bruk Berhanu, Senior Researcher at the Pacific Institute and lead author of the report.
  • “This study reveals that stormwater capture presents a significant yet unrealized opportunity for enhancing urban water management across the United States,” says Dr. Nicole Beck, CEO of 2NDNATURE.
  • The report is part of the Pacific Institute’s ongoing research advancing water efficiency and reuse strategies to build water resilience in the United States and globally.

Cadiz Closes Financing, Secures Development Capital For Water Supply Projects

Retrieved on: 
Wednesday, March 6, 2024

LOS ANGELES and GENEVA, March 6, 2024 /PRNewswire/ -- Cadiz, Inc. (NASDAQ: CDZI / CDZIP, the "Company") announced today that it has completed a financing transaction that significantly strengthens its financial position and provides the Company with liquidity to accelerate development of its water supply projects in Southern California. The financing includes a new $20 million loan to fund operations and capital expenses associated with development of the Company's water supply projects and extends all debt maturities to 2027.

Key Points: 
  • $57 million credit agreement includes $20 million to support development and construction of water supply projects before the next drought.
  • The financing includes a new $20 million loan to fund operations and capital expenses associated with development of the Company's water supply projects and extends all debt maturities to 2027.
  • "This financing puts us in position to be delivering water before the next drought hits California," said Susan Kennedy, Chairman and Chief Executive Officer of Cadiz.
  • Cadiz owns 45,000 acres of land in the Mojave Desert with 2.5 million acre-feet of water supply, 1 million acre-feet of water storage capacity and more than 200 miles of pipeline assets that stretch across Southern California.

Cadiz Announces Completion of Wellfield Expansion to 36,000 Acre-feet per Year

Retrieved on: 
Thursday, April 6, 2023

LOS ANGELES, April 6, 2023 /PRNewswire/ -- Today, Cadiz, Inc. (NASDAQ: CDZI/CDZIP) ("Cadiz", the "Company"), a clean water solutions company, announced that it completed construction of three new groundwater wells at the Cadiz Ranch increasing the wellfield to 12 production wells with an annual capacity of 36,000 acre-feet of water per year (AFY).  With the new wells online, the Cadiz Ranch wellfield will have sufficient capacity to deliver the full volume of the Company's Northern Pipeline, or 25,000 AFY, and also continue to support current agricultural operations at the Cadiz Ranch.

Key Points: 
  • With the new wells online, the Cadiz Ranch wellfield will have sufficient capacity to deliver the full volume of the Company's Northern Pipeline, or 25,000 AFY, and also continue to support current agricultural operations at the Cadiz Ranch.
  • "Our mission is to deliver clean, reliable and affordable water to people," said Susan Kennedy, Executive Chair of Cadiz.
  • "Our wellfield and infrastructure will provide both reliable new supply during extreme drought periods and underground storage during extreme wet periods."
  • The Cadiz wellfield at the Ranch captures groundwater that would otherwise be lost to evaporation from the base of a significant Mojave Desert watershed for agricultural irrigation.

CADIZ INC. ANNOUNCES $10 MILLION DIRECT PLACEMENT LED BY LARGEST INVESTORS

Retrieved on: 
Thursday, November 10, 2022

LOS ANGELES, Nov. 10, 2022 /PRNewswire/ -- Cadiz Inc. (NASDAQ: CDZI, CDZIP) ("Cadiz," the "Company") today announced that it has entered into a securities purchase agreement for a registered direct offering ("Offering") of 5 million shares of common stock for total proceeds of $10 million. The Company's largest equity shareholder Heerema International Group Services SA ("Heerema IGS"), a leading international offshore sustainable energy solutions company, anchored the Offering with an investment of $3.6 million. Funds managed by Odey Asset Management and California-based American Assets Capital Advisors, LLC ("AACA") also participated. Following the Offering, Heerema IGS will continue to beneficially own approximately 35.4% of the Company's outstanding common stock

Key Points: 
  • The Company's largest equity shareholder Heerema International Group Services SA ("Heerema IGS"), a leading international offshore sustainable energy solutions company, anchored the Offering with an investment of $3.6 million.
  • "This investment will enable Cadiz to accelerate development of water conservation and supply projects to meet significantly increased demand for safe, affordable water in California and the West."
  • Last month, the Company accelerated planned infrastructure investments to expand wellfield capacity to 36,000 acre-feet per year ("AFY").
  • In November 2022, Cadiz completed its asset acquisition from ATEC, a privately held water filtration technology company.

CADIZ INC. ANNOUNCES WELLFIELD EXPANSION AND COMPLETION OF PIPELINE CONVERSION STUDY

Retrieved on: 
Wednesday, September 21, 2022

LOS ANGELES, Sept. 21, 2022 /PRNewswire/ -- Cadiz Inc. (NASDAQ: CDZI/CDZIP) ("Cadiz", the "Company") announced today that it will begin construction of three new groundwater wells at Cadiz Ranch in October and initial engineering study for the conversion of the Company's 220-mile oil and gas pipeline to transport water ("Northern Pipeline Project") has been completed.  Once the three new wells are constructed and come online in early 2023, Cadiz will have 12 wells in operation with a total capacity of 36,000 acre-feet of water per year (AFY), a 33% increase over the current wellfield production capacity of 27,000 AFY. 

Key Points: 
  • Cadiz retained global engineering firm Stantec (NYSE: STN) to conduct the engineering study for the Northern Pipeline Project.
  • "With these new wells online, our wellfield will have sufficient capacity to fill our Northern Pipeline and meet the needs of our agricultural operations."
  • The Cadiz wellfield at the Ranch captures groundwater that would otherwise be lost to evaporation from the Mojave Desert watershed.
  • The Cadiz Ranch agricultural operation follows a sustainable groundwater management plan that has been administered by the County of San Bernardino since 1993.

DGAP-News: Gesco AG: GESCO takes stock for financial year 2020 and publishes outlook for new financial year 2021

Retrieved on: 
Tuesday, April 27, 2021

After a satisfactory start to the year, subsidiary business performance was substantially disrupted by the pandemic in March 2020.

Key Points: 
  • After a satisfactory start to the year, subsidiary business performance was substantially disrupted by the pandemic in March 2020.
  • The situation became even worse for companies already suffering from the automotive industry\'s reluctance to invest in the previous year.
  • Companies in all segments especially felt the impact in terms of customer demand in spring of 2020, following crisis-related plant closures.
  • Significant orders were also acquired in loading technology.\nAll told, incoming orders in GESCO Group reached \xe2\x82\xac 492.8 million in the financial year (AFY 2019: \xe2\x82\xac 403.2 million).