Cadiz Inc. secures $51M from Lytton Rancheria for Mojave Groundwater Bank project.

Cadiz Inc. has executed a definitive agreement with Lytton Rancheria of California, a Native American tribe, providing up to $51 million in capital for the Mojave Groundwater Bank project. This is the first tranche of financing for the project, which aims to be the largest groundwater bank in the Southwest. Lytton's investment represents the first tribal investment in the project and is part of up to $450 million in total equity capital being raised by Cadiz through Mojave Water Infrastructure Company, LLC.