Solar-hybrid microgrids can provide 100%
uptime reliability, reduce energy costs by 30% and cut
carbon emissions by 75%.
LOS
ANGELES, June 13, 2023 /PRNewswire/ -- Cadiz, Inc.
(NASDAQ: CDZI) ("Cadiz", the "Company") announced today the
selection of Scale Microgrids ("Scale") to develop clean energy
microgrids for the Cadiz Water Conservation, Supply and Storage
Project in the Mojave Desert.
Cadiz, a water solutions company with the largest farming
operation in San Bernardino
County, currently manages a groundwater basin in the Mojave
Desert using diesel generators to power an off-grid wellfield that
spans across thousands of acres. The solar-hybrid microgrids
designed by Scale for Cadiz will combine ground mount Solar PV,
battery storage, and advanced, high-efficiency distributed
generation that can lower energy costs by more than 30%, provide
100% uptime reliability and cut carbon emissions by more than
75%.
"Microgrid technology has improved to the point where shifting
to clean energy is now the most cost-effective way to operate
off-grid," said Susan Kennedy,
Executive Chair of Cadiz. "Our mission is to deliver clean,
reliable and affordable water to people. Scale's solar-hybrid
microgrid systems can give us the reliability we need at
significantly lower cost while reducing emissions as much as 75%,
demonstrating that clean energy and clean water go
hand-in-hand."
"Scale and Cadiz have strong compatibility when it comes to
being mission-driven and aligned in the vision of a world where
water resources are sustainably managed and available to all,
equitably," says Ryan Goodman,
co-founder and Chief Executive Officer at Scale. "We continue to be
committed to deploying cleaner and more reliable power across
California at record speed, with
water infrastructure being a critical priority."
In April, Cadiz announced that it completed construction of
three new groundwater wells as part of the Company's Water
Conservation and Storage Project ("Project"), which will capture
50,000 acre-feet per year of surplus groundwater before it
evaporates in the desert and make it available to communities by
constructing pipelines in railroad corridors and converting natural
gas pipelines to transport water. The Cadiz wellfield and
infrastructure will provide both reliable new supply during extreme
drought periods and underground storage during extreme wet
periods.
Cadiz expects to have between 25-30 production wells in
operation when the Project is fully constructed. The Company's
220-mile Northern Pipeline, an unused natural gas pipeline that
will be converted to carry water, will transport 11 million tons of
water each year to remote and underserved communities across
Southern California. "It
takes a lot of energy to produce and move that much water," Kennedy
said. "With Scale's clean energy microgrid design, we will be able
to deliver that water reliably, sustainably and
cost-effectively."
Scale's proposed state-of-the-art clean energy microgrid design
will outfit each well with a 1,120 kW ground-mount solar PV system,
693 kW/2664 kWh battery energy storage system, 380 kW of ultra-low
emission generation, tied together with smart controls and a
switchboard. The microgrid and advanced control technology will
enable remote monitoring, provide 100% uptime reliability and lower
maintenance costs over the life of the systems.
About Cadiz, Inc.
Founded in 1983, Cadiz Inc. (NASDAQ: CDZI) is a California water solutions company dedicated
to providing access to clean, reliable and affordable water for
people through a variety of innovative water supply, storage,
conveyance and treatment projects. For more information, please
visit www.cadizinc.com.
About Scale Microgrids
Scale is a vertically integrated distributed energy platform,
with a core focus of designing, building, financing, owning and
operating cutting-edge distributed energy assets that offer
cheaper, cleaner, and more resilient power. Their team of energy
and financing experts accelerate growth in distributed energy
projects by providing financing to technology providers, energy
developers, and OEMs, while also directly helping large
energy-consuming customers to take charge of their energy
infrastructure and future-proof their businesses. For more
information, please visit www.scalemicrogrids.com.
FORWARD LOOKING STATEMENT: This release contains
forward-looking statements that are subject to significant risks
and uncertainties, including statements related to the future
operating and financial performance of the Company and the
financing activities of the Company. Although the Company
believes that the expectations reflected in our forward-looking
statements are reasonable, it can give no assurance that such
expectations will prove to be correct. Factors that could
cause actual results or events to differ materially from those
reflected in the Company's forward-looking statements include the
Company's ability to maximize value for Cadiz land and water
resources, the Company's ability to obtain new financing as needed,
the receipt of additional permits for the water project and other
factors and considerations detailed in the Company's Securities and
Exchange Commission filings.
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SOURCE Cadiz, Inc.