Cadiz
- Company typePublic
- Founded1983
- HeadquartersLos Angeles, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Cadiz does
Cadiz, Inc. (NASDAQ: CDZI) is a publicly-held natural resources and water infrastructure company founded in 1983 and headquartered in Los Angeles, California. The company is developing the Mojave Groundwater Bank at its 45,000-acre Cadiz Ranch in the Mojave Desert, a conjunctive-use groundwater storage project leveraging an aquifer system estimated to hold 30-50 million acre-feet with permitted capacity to store up to 1 million acre-feet and deliver up to 75,000 acre-feet annually over a 50-year horizon. Cadiz owns and is converting a 220-mile Northern Pipeline acquired from El Paso Natural Gas and is constructing a 43-mile Southern Pipeline to connect the Colorado River Aqueduct and the California State Water Project, supported by a Groundwater Management Monitoring and Mitigation Plan with over 100 monitoring elements overseen by San Bernardino County. Through its wholly-owned subsidiary ATEC Water Systems (acquired 2020, Hollister manufacturing facility tripled in capacity), Cadiz sells modular water filtration systems targeting iron, manganese, arsenic, PFAS, and nitrate removal.
Revenue is generated across five streams: long-term water supply sales to municipal agencies and tribal governments, underground water storage services, pipeline infrastructure (Northern and Southern), land leases and rights-of-way at Cadiz Ranch, and ATEC filtration hardware sales. Cadiz goes to market through enterprise field sales targeting municipal water agencies, public water districts, tribal governments, and local communities, with multi-decade sales cycles tied to permitting milestones and public financing (WIFIA loans, municipal debt, government grants). Pricing is contract-negotiated rather than unit-published, reflecting the bespoke nature of large infrastructure agreements. The company is currently pre-commercial on its core Mojave project (water delivery targeted for 2026), operating with negative EBITDA while raising capital through equity offerings, debt facilities, and a tribal partnership targeting approximately $450 million in total project equity.
Cadiz firmographics
Firmographics- Name
- Cadiz
- Legal name
- Cadiz, Inc.
- Website
- https://cadizinc.com
- Company type
- Public
- Founded year
- 1983
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Cadiz industry classification
Industry- Product category
- Water Infrastructure Services
- NAICS
- Water, Sewage and Other Systems (2213), Water Supply and Irrigation Systems (221310)
- SIC
- Water Supply (4941), Water, Sewer, Pipeline, Comm & Power Line Construction (1623)
- akta.pro primary industry
- Water Supply & Wastewater Utilities Administration (BPAIACAG)
- akta.pro secondary industries
- Groundwater Extraction, Treatment & Discharge (Pump-and-Treat, reinjection) (BPALAKAF), Water Resources Administration (Watersheds, Rivers, Groundwater) (BPAIAMAE)
Keywords
Where Cadiz is headquartered
LocationHeadquarters
- HQ city
- Los Angeles
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Cadiz business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Supply Chain, Technology or R&D, Personnel, Marketing or Sales
Revenue model
- Water Supply Sales: Revenue from selling conserved groundwater to municipal water agencies, water districts, and tribal governments through long-term water purchase agreements. Can deliver up to 75,000 acre-feet annually under approved permits.
- Water Storage Services: Revenue from providing underground water storage capacity (up to 1 million acre-feet) for agencies to bank surplus water during wet years and withdraw during droughts.
- Pipeline Infrastructure: Revenue from developing, owning, and operating pipeline infrastructure (Northern Pipeline and Southern Pipeline) connecting the Colorado River and California State Water Project systems for water conveyance.
- Land Leases and Rights-of-Way: Revenue from land leases, expanding use of rights-of-way, energy production partnerships, and hydrogen development at Cadiz Ranch (45,000 acres).
- ATEC Water Treatment Systems: Revenue from sale and service of water treatment filtration systems through ATEC Water Systems subsidiary. Includes iron and manganese removal systems and customizable treatment solutions for utilities and water systems.
Go-to-market motion1 record
Distribution channels4 records
Marketing channels6 records
Cadiz product offering
Product offeringCore offering
Cadiz operates the Mojave Groundwater Bank at its 45,000-acre Cadiz Ranch in the Mojave Desert, providing groundwater storage (up to 1 million acre-feet) and water supply (up to 75,000 acre-feet annually) to municipal water agencies, water districts, and tribal governments. The company owns and is converting a 220-mile Northern Pipeline and developing a 43-mile Southern Pipeline to connect the Colorado River Aqueduct and California State Water Project. ATEC Water Systems, a wholly-owned subsidiary, sells modular water filtration systems for iron, manganese, arsenic, and other contaminant removal.
Product overview
Cadiz Inc. operates as a water solutions company offering an integrated portfolio of water supply, storage, conveyance, and treatment services. The core offering is the Mojave Groundwater Bank, a major groundwater banking infrastructure project. Supporting this are two key assets: the Northern Pipeline (a 220-mile converted fossil-fuel pipeline) and the Southern Pipeline (a 43-mile new pipeline to the Colorado River Aqueduct). The company also owns Cadiz Ranch (45,000 acres of land and agricultural operations) and ATEC Water Systems, an acquired water treatment technology company providing modular filtration systems for removing contaminants. The portfolio is tied together through the Mojave Groundwater Bank, which connects to major water infrastructure including the State Water Project and Colorado River Aqueduct systems.
Differentiator
Problem solved
Functional benefit
Products and services
- Mojave Groundwater Bank
Quantifiable outcome
- Reliable 50-year water supply for 400,000+ people annually
- +4 more outcomes
Companies that use Cadiz
Customer profileNamed customers7 records
Segments5 records
Ideal customer profiles3 records
Cadiz technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Cadiz partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core and supporting.
- U.S. Bureau of ReclamationcoreFunding agreement for technical and regulatory review of Mojave Groundwater Bank project. Supports assessment of water exchange agreements within Colorado River System, validation of water supply capability, and evaluation of potential federal investment in the project.
- RIC EnergysupportingMOU for hydrogen production facility development at Cadiz Ranch. RIC advancing environmental permitting with San Bernardino County for project expected to become largest hydrogen production facility in California, qualifying for federal green hydrogen tax credits.
- Farmworkers Institute of Education & Leadership Development (FIELD)supportingPartnership to create state-of-the-art technology innovation center at Cadiz Ranch providing hands-on training in water conservation, groundwater management, and sustainable agriculture. Supports workforce development for underserved communities through CTE program.
- Torres Martinez Desert Cahuilla Indianscore50-year agreement dedicating 5,000 acre-feet of water per year to tribe for tribal sovereignty and Salton Sea restoration. Cadiz providing up to $5 million for pipeline infrastructure and well treatment technology on tribal lands.
- Coachella Valley Water DistrictcoreParty to Supplemental Water Supply Agreement for Salton Sea restoration and water supply for Torres Martinez Tribe and disadvantaged communities in eastern Coachella Valley.
- Salton Sea AuthoritycorePartnership to provide 5,000 acre-feet of water per year for 50 years to support Salton Sea restoration, dust mitigation, and environmental restoration in eastern Coachella Valley.
- Fenner Valley Water AuthoritycorePublic agency managing the Mojave Groundwater Bank project. Partnership with Cadiz, Fenner Gap Mutual Water Company, and Native American Tribes to construct, own, and operate water infrastructure. Landmark collaboration to build first large-scale tribal-owned water infrastructure project off tribal lands in U.S. history.
- Fenner Gap Mutual Water CompanycorePartner in Mojave Groundwater Bank project managing conjunctive-use groundwater storage operations. Working with Bureau of Reclamation under September 2025 MOU to evaluate water augmentation opportunities for Colorado River.
- Santa Margarita Water DistrictcoreNorthern Pipeline Water Purchase Agreement for water delivery. Water district purchasing water supply capacity from Cadiz infrastructure.
- EPCORsupportingStrategic partnership mentioned in Q3 2025 investor update for Mojave Groundwater Bank development activities.
- W. M. Lyles Co.supportingConstruction manager engaged for Northern Pipeline project under Guaranteed Maximum Price (GMP) contract structure.
Scale indicators12 records
Recent moves6 records
Expansion highlights6 records
Cadiz competitors and assessment
Company assessmentBroad incumbents
- Xylem Inc. Global water technology company (~$7B revenue) providing pumps, treatment, metering and smart infrastructure to utilities and industrial customers. Comparable as a broad incumbent in the water technology and infrastructure ecosystem, particularly overlapping with Cadiz on treatment systems and pipeline metering, but at vastly greater scale and product breadth.
- Pentair plc: Global water treatment and flow technologies company with ~$4B revenue serving residential, commercial and industrial customers. Comparable to Cadiz's ATEC Water Systems subsidiary in the water filtration and treatment product category (iron/manganese/arsenic/PFAS removal), though Pentair is a much larger, more diversified equipment manufacturer.
- American Water Works Company: Largest investor-owned water and wastewater utility in the US, serving ~14M people across 14 states. Comparable as a broad incumbent in regulated water utility services with similar customer profile (municipal/regulated water sales) and infrastructure-based growth model, though at vastly larger scale and broader geographic footprint than Cadiz.
- Essential Utilities: Multi-state water and natural gas utility serving ~5M people across PA, OH, NC, IL, TX, IN, Virginia and Kentucky. Comparable as a regulated water utility with long-cycle infrastructure capex and similar customer-base structure, but more diversified across geographies and including a gas distribution business Cadiz does not operate.
Direct peers
- Watts Water Technologies: Manufacturer of water treatment, conservation and flow-control products for residential, commercial and institutional markets. Comparable to ATEC Water Systems as a pure-play water treatment equipment vendor with similar customer base (utilities, OEMs, contractors) and regulatory-driven demand for contaminant removal systems.
- SJW Group: Holding company for San Jose Water Company and Connecticut Water, with recent CT Water acquisition expanding to ~$2B in utility assets. Comparable as a publicly-traded California-anchored water utility pursuing growth through infrastructure investment and acquisition, serving similar municipal and residential customers under long-duration regulated contracts.
- California Water Service Group: Investor-owned water utility serving ~2M people across California, Hawaii, Washington and New Mexico. Directly comparable to Cadiz because both deliver regulated water supply to California municipal and residential customers under long-term agreements, with similar regulatory frameworks (CPUC) and customer concentration in drought-exposed California communities.
- Mueller Water Products: Manufacturer of water infrastructure products including iron/manganese removal filtration systems, pipeline valves, hydrants and metering technology for North American utilities. Directly comparable to Cadiz/ATEC's iron/manganese treatment focus and to the pipeline infrastructure business via valves and pipe-related products for water distribution networks.
Regional players
- Middlesex Water Company: Investor-owned water and wastewater utility serving ~500K people in New Jersey, Delaware and Pennsylvania. Comparable as a small-cap regulated water utility with similar business model (water supply, treatment and distribution under regulated tariffs), but operating in a different (non-drought-exposed) geography.
- Artesian Resources: Small-cap water and wastewater utility serving ~300K people on the Delmarva Peninsula. Comparable in scale and business model (regulated water utility, infrastructure-led growth), but operates in a fundamentally different climate/geography than Cadiz's arid Southwest focus.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Cadiz social profiles
Digital presenceCadiz financial estimates
Financial estimateRevenue estimate
Valuation estimate
Cadiz leadership team
Management profileNumber of profiles
Profiles1 record
Cadiz subsidiaries and ownership
Company hierarchySubsidiaries2 records
Cadiz funding detail
Funding detailFunding overview
Funding rounds8 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Cadiz M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Cadiz
What does Cadiz do?
Cadiz operates the Mojave Groundwater Bank at its 45,000-acre Cadiz Ranch in the Mojave Desert, providing groundwater storage (up to 1 million acre-feet) and water supply (up to 75,000 acre-feet annually) to municipal water agencies, water districts, and tribal governments. The company owns and is converting a 220-mile Northern Pipeline and developing a 43-mile Southern Pipeline to connect the Colorado River Aqueduct and California State Water Project. ATEC Water Systems, a wholly-owned subsidiary, sells modular water filtration systems for iron, manganese, arsenic, and other contaminant removal.
Is Cadiz a public or private company?
Cadiz is a public company. It is classified as public.
When was Cadiz founded?
Cadiz was founded in 1983. It employs 11 to 50 people.
Where is Cadiz based?
Cadiz is headquartered in Los Angeles, United States, in the North America region.
How does Cadiz make money?
Five revenue lines are on record. Water Supply Sales are the primary driver. The others are water Storage Services, pipeline Infrastructure, land Leases and Rights-of-Way and ATEC Water Treatment Systems.
Who are Cadiz's main competitors?
Broad incumbents on record are Xylem Inc., Pentair plc, American Water Works Company and Essential Utilities. Direct peers are Watts Water Technologies, SJW Group, California Water Service Group and Mueller Water Products. Regional players are Middlesex Water Company and Artesian Resources.
Does Cadiz have an API?
No public API is recorded for Cadiz.
What industry is Cadiz in?
Cadiz's product category is Water Infrastructure Services. Its primary akta.pro industry code is BPAIACAG, Water Supply & Wastewater Utilities Administration, with a secondary code of BPALAKAF, Groundwater Extraction, Treatment & Discharge (Pump-and-Treat, reinjection). Its NAICS code is 2213 and its SIC code is 4941.