Cadiz Inc. (NASDAQ: CDZI), a California land and water resources
development company, and Lucid Energy Inc., a provider of in-pipe
hydropower infrastructure, are pleased to announce that they have
entered into a joint venture collaboration to create power for the
Arizona & California Railroad Company (“ARZC”) as a component
of the Cadiz Valley Water Conservation, Recovery & Storage
Project (“Cadiz Water Project”). Through the installation of the
LucidPipe Power System in the Cadiz Water Project’s planned 43-mile
water conveyance pipeline, new green power will be generated for
expanding existing transloading operations and for other railroad
purposes.
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LucidPipe Power System (Photo: Business
Wire)
“We continue to look for ways to innovate and accomplish our
Project objectives in an environmentally benign way,” said Scott
Slater, Cadiz President and CEO. “With the advantage of the
LucidPipe Power system, we found our answer to the question of how
we would provide power to meet ARZC’s requests for power with a
green, efficient power source.”
With the objective of minimizing and potentially avoiding
adverse environmental impacts, in 2008, Cadiz leased a portion of
the ARZC Railroad Right-of-way (ROW) to construct a 43-mile
pipeline within this existing transportation corridor. Cadiz’s
proposal to utilize the ROW is currently under review by the United
States Bureau of Land Management. An average of approximately
50,000 acre-feet of water per year will be conveyed through this
pipeline via gravity flow downhill to the Colorado River Aqueduct,
a main conduit for water distribution in southern California. As a
condition of making available its ROW for the Cadiz Water Project,
the ARZC required that Cadiz Inc. provide certain improvements in
furtherance of railroad purposes for the benefit of the railroad,
including making power available to ARZC.
The ARZC operates a shortline railroad that originates in Cadiz,
California and runs to Matthie, Arizona near Phoenix. Due to the
remote nature of sections of the ARZC route, the railroad desires
cost-effective and routine access to power for its operations,
including potential transloading at a siding location in Rice,
California. Access to electric power for lighting, refrigeration
and heating would allow for an expanded transloading operation at
this location. By installing in-line power turbines in the Cadiz
Water Project pipeline as proposed, the pipeline can generate
low-cost, renewable energy and meet ARZC’s local business
objectives.
“The Cadiz Project will provide critical benefits to our
operation and provide us with a valuable and unique opportunity to
enhance our rail line,” said Brad Ovitt, President of Arizona &
California Railroad Company. “This innovative hydropower technology
will provide a great benefit that we could not access but for the
existence of the Cadiz pipeline.”
LucidPipe is a patented, in-pipe turbine generator that
efficiently captures the energy of moving water inside large
pipelines and converts it to a continuous source of low-cost
electricity. Water passes through spherical, lift-based turbines
and causes them to spin, generating electricity from the water flow
and pressure head inside the pipe. Because the system operates
inside of pipelines, it creates no environmental impacts and is not
subject to intermittency issues caused by weather conditions.
“There are thousands of miles of gravity fed water pipelines
across our country that could make use of our unique hydropower
technology without harm to the environment,” said Gregg Semler,
president and CEO of Lucid Energy. “LucidPipe generates baseload
energy with no carbon emissions and no disruption to pipeline
operations, providing clean, eco-friendly power in the truest sense
of the word. We are excited to be able to collaborate with Cadiz in
this green power venture.”
The LucidPipe turbines have been tested and certified by NSF
International to NSF/ANSI Standard 61 for use in potable water
systems. Only ministerial permitting will be required to
incorporate these turbines in the Cadiz Water Project pipeline.
LucidPipe turbines have already been successfully deployed in
the United States to generate power. In January 2015, a
four-turbine, 200 kW LucidPipe Power System came online in
Portland, Oregon. The system, which is installed in a Portland
Water Bureau pipeline, will generate an average of 1,100 megawatt
hours (MWh) of energy per year, enough electricity to power up to
150 homes. It had the distinction of being the first project in the
U.S. to secure a 20-year power purchase agreement for in-pipe
hydropower in a municipal water pipeline, paving the way for
similar financing to be available to other municipalities around
the country. Riverside Public Utilities in California was the site
of Lucid Energy’s first commercial LucidPipe installation. The
single 42” turbine system has operated continuously for three
years.
About Lucid Energy
Founded in 2011, Lucid Energy, Inc. is a provider of renewable
energy and smart water management solutions that improve the
economics of delivering water. The company's patented LucidPipe
Power System enables industrial, municipal and agricultural
facilities to generate clean, reliable, low-cost electricity from
their gravity-fed water pipelines and effluent streams. A private
company, Lucid Energy co-developed the technology with Northwest
Pipe Company (NASDAQ: NWPX), the largest manufacturer of steel
water transmission pipe in the U.S. For more information, visit
www.lucidenergy.com.
About Cadiz Inc.
Founded in 1983, Cadiz Inc. is a land and water resource
development company that owns 70 sq. miles of property and water
rights in Southern California. The Company is engaged in a
combination of organic farming and water supply and storage
projects. Cadiz abides by a “Green Compact” focused on sustainable
practices to manage its land, water and agricultural resources and
has committed to implement its projects without harm to the
environment. For more information about Cadiz,
visit www.cadizinc.com.
About Arizona & California Railroad
The Arizona & California Railroad (ARZC) is a short line
railroad that interchanges with the BNSF. The ARZC began operations
between 1903 and 1907 by the Arizona & California Railway. By
1910, the line had stretched its reach to Cadiz, California.
The ARZC operates 190 miles of main line track extending from
its interchange with the BNSF in Cadiz and continues southeast
across the Mojave Desert to Rice, California, then east to cross
the Colorado River Arizona/California state line at Parker,
Arizona. The railroad continues east to Matthie. The ARZC also has
trackage rights into Phoenix on the BNSF Phoenix Branch. To learn
more, visit
http://www.gwrr.com/operations/railroads/north_america/arizona_california_railroad.
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 Cadiz’s ability to maximize value for its land
and water resources, Cadiz’s ability to obtain new financing as
needed, the receipt of additional permits for its projects and
other factors and considerations detailed in Cadiz’s Securities and
Exchange Commission filings.
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version on businesswire.com: http://www.businesswire.com/news/home/20150602006525/en/
Lucid EnergyJennifer Allen NewtonBluehouse Consulting
Group, Inc.503-805-7540jennifer@bluehousecg.comorCadiz
Inc.Courtney
Degener213-271-1603cdegener@cadizinc.comorARZCMichael E.
WilliamsGenesee & Wyoming Railroad Services,
Inc.203-202-8916mwilliams@gwrr.com
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