Cadiz, Lytton Rancheria of California sign letter of intent

Cadiz (CDZI) announced that the company and the Lytton Rancheria of California have signed a Letter of Intent for Lytton to invest up to $50M in the company’s groundwater banking project in the Mojave Desert. Lytton’s investment would be the first major investment by a Native American Tribe in large-scale water infrastructure off tribal lands in U.S. history. With 2.5M acre-feet of new water supply and an estimated 30M acre-feet of water in storage today, the Mojave Groundwater Bank will be the largest new groundwater bank in the Southwest. The partnership between Cadiz and Lytton signifies a landmark collaboration in water resource management, with Tribes holding a majority ownership stake in the Mojave Groundwater Bank. This ownership structure empowers Indigenous communities to play a leading role in decision-making and investment in vital water projects.