CADIZ, Calif. - Cadiz Inc. (NASDAQ:CDZI) has entered into a funding agreement with the U.S. Bureau of Reclamation to support technical and regulatory review activities for the Mojave Groundwater Bank project.
The water solutions company, valued at $361 million, has seen its stock surge 56% over the past year.
The agreement follows a Memorandum of Understanding executed in September 2025. Under the terms, Cadiz will provide funding for Reclamation's review of proposed water exchange agreements.
Initial tasks are expected to begin immediately and include assessing methods for implementing water exchanges within the Colorado River System.
The Mojave Groundwater Bank is a conjunctive-use groundwater storage project located in southeastern California near the Arizona and Nevada border. The bank contains an estimated 30 million acre-feet of groundwater in storage.
Cadiz, founded in 1983, operates as a water solutions company with 45,000 acres of land in California and 220 miles of pipeline assets.
