Central Arizona Irrigation and Drainage District Secures Up to 10,000 Acre-Feet Per Year of New Water Supply from Mojave Groundwater Bank

Central Arizona Irrigation & Drainage District Cadiz, Inc. Clean Water Solutions Logo (PRNewsfoto/Cadiz Inc.) CAIDD and Cadiz Inc. execute MOU for new water supplies to support long-term water reliability in Arizona PHOENIX and CADIZ, Calif. , July 2, 2026 /PRNewswire/ -- Central Arizona Irrigation and Drainage District ("CAIDD") and Cadiz, Inc. (NASDAQ: CDZI , CDZIP) today announced execution of a Memorandum of Understanding ("MOU") for the purchase and sale of up to 10,000 acre-feet per year ("AFY") of new water supply from Cadiz's Mojave Groundwater Bank in San Bernardino County, California. The MOU represents the first agreement for water supply from the Mojave Groundwater Bank with an Arizona water district and provides access to a new source of water supply for Arizona at a time when prolonged drought and shortages are expected to reduce deliveries of Colorado River water to farms, communities, businesses, and tribes throughout the Lower Basin. CAIDD is one of central Arizona's largest agricultural water districts, serving approximately 87,600 irrigated acres in Pinal County. Upon completion of off-take and exchange agreements and construction of pipeline facilities, the MOU would enable delivery of up to 10,000 AFY of groundwater supplies from the Mojave Groundwater Bank to CAIDD through an interstate exchange of Colorado River water. For CAIDD, the agreement provides access to firm supplemental supplies that support the long-term reliability of water deliveries to its agricultural customers. The transaction also advances Cadiz's collaboration with the U.S. Department of Interior Bureau of Reclamation ("Reclamation") under a September 2025 Memorandum of Understanding to evaluate the Mojave Groundwater Bank as a new water supply and storage resource for the Lower Colorado River Basin. As part of that collaboration, Reclamation is expected to evaluate the proposed interstate exchange to identify the legal and operational requirements necessary to implement ...