Cadiz Inc. Announces Former Tribal Chairman David Sickey as Senior Advisor

Rhea-AI Summary

Cadiz Inc. (NASDAQ: CDZI) has appointed David Sickey, former Chairman of the Coushatta Tribe, as Senior Advisor for Energy and Water Projects. Sickey, with 18 years of tribal government experience, recently served as Senior Consultant to the U.S. Department of Energy's Loan Programs Office, focusing on the Tribal Energy Finance Program. His role at Cadiz will involve assisting with energy and water infrastructure financing.

Sickey's expertise in financing large-scale energy and infrastructure projects aligns with Cadiz's move into the financing and construction phase of its water infrastructure projects. The company, with 45,000 acres of land and water in the Mojave Desert, is developing one of the largest groundwater banking projects in the Southwestern U.S. and providing water supply and clean water technology to disadvantaged communities in the Colorado River Basin and California's desert areas.

Positive

• Appointment of David Sickey, an experienced tribal leader and energy finance expert, as Senior Advisor
• Sickey's expertise aligns with Cadiz's move into financing and construction of water infrastructure projects
• Cadiz is developing one of the largest groundwater banking projects in the Southwestern U.S.
• The company owns 45,000 acres of land and water in the Mojave Desert
• Cadiz is providing water supply and clean water technology to disadvantaged communities

Negative

• None.

Honorable David Sickey, Former Tribal Chairman of Coushatta Tribe of Louisiana and Senior Consultant with U.S. Department of Energy, will Assist with Energy and Water Infrastructure Financing 

LOS ANGELES, July 26, 2024 /PRNewswire/ -- Cadiz, Inc. (NASDAQ: CDZI / CDZIP) ("Cadiz" or the "Company"), a California water solutions company, announced today the appointment of David Sickey, the former distinguished Chairman of the Coushatta Tribe, as Senior Advisor for Energy and Water Projects, effective immediately. Chairman Sickey, an 18-year veteran of tribal government, recently concluded two years of service as Senior Consultant to the U.S. Department of Energy's (DOE) Loan Programs Office focused particularly on the Tribal Energy Finance Program.

"David is renowned for his passion and expertise in financing large-scale energy and infrastructure projects that advance Tribal sovereignty," said Susan Kennedy, Chairman and CEO of Cadiz. "We could not be more fortunate to have David working with Cadiz as we move into the financing and construction phase of our water infrastructure projects."

Chairman Sickey commented, "Water is life and energy independence is critical to tribal sovereignty. Indigenous people are on the front lines of climate change, where every drought, every hurricane and every heat wave is potentially life threatening.  I am immensely proud to work with the leadership of Cadiz to bring urgently needed clean water, infrastructure and financial resources to isolated and disadvantaged communities including Tribes in the Southwestern U.S."

As a Senior Consultant for the DOE's Loan Programs Office, Sickey played a pivotal role in the Tribal Energy Finance Program, a program which saw its funding increase from $2 billion to $20 billion under the Biden administration's Inflation Reduction Act. Sickey was instrumental in shaping the initiative to empower tribal nations with sustainable energy solutions, assisting tribes with financing a broad range of energy and infrastructure projects - from solar and wind to microgrids, fuel cells, virtual power plants and bioenergy projects. His analytical skills and strategic communications were instrumental in aligning the program with community values, while also respecting the sovereignty and driving economic development of tribal lands.  

Sickey was elected to the governing body of the Coushatta Tribe of Louisiana in 2003, and two years later became tribal Vice-Chairman. In 2017, Sickey was elected to the position of Tribal Chairman.  During his eighteen years as a member of tribal government, Sickey was focused on restructuring and improving government programs, increasing funding for health, education, culture, welfare, and elder programs, and expanding economic development. 

As Tribal Chairman, Sickey was responsible for steering the Coushatta Tribe through the COVID-19 pandemic. He oversaw the procurement and provision of health services, worked with numerous federal agencies and officials to secure federal funding for his tribe, and navigated the tribe's multi-million business through the pandemic's unstable financial throes. Notwithstanding the shutdowns and other significant hurdles imposed by the COVID pandemic, the Coushatta Tribe's business grew stronger. Sickey also helped the Coushatta Tribe overcome the impacts of multiple natural disasters. He was instrumental in helping his tribe obtain millions of dollars in state and federal grants that benefited the tribe and its surrounding communities. 

Throughout his years of dedicated public service, Sickey positioned the Coushatta Tribe to be a leader in national native American affairs, a partner with the State of Louisiana, a player in federal matters affecting Indian tribes, and a force for positive change throughout the United States.  

Cadiz, with 45,000 acres of land and water in the Mojave Desert, is developing one of the largest groundwater banking projects in the Southwestern U.S. and is providing water supply and clean water technology to disadvantaged communities in the Colorado River Basin and California's Inland Empire and desert communities, including Tribes that presently lack access to clean, reliable water.

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 unique combination of water supply, storage, pipeline and treatment solutions. With 45,000 acres of land in California, 2.5 million acre-feet of water supply, 220 miles of pipeline assets and the most cost-effective water treatment filtration technology in the industry, Cadiz offers a full suite of solutions to address the impacts of climate change on clean water access. For more information, please visit https://www.cadizinc.com. 

Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to the expected financing and construction of our water projects.  Although the Company believes that the expectations reflected in our forward-looking statements are reasonable, we 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 are detailed in the Company's Securities and Exchange Commission filings, including our Annual Report on Form 10-K for the year ended December 31, 2023 and subsequent quarterly and current reports. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

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SOURCE Cadiz, Inc.

FAQ

Who did Cadiz Inc. (CDZI) appoint as Senior Advisor for Energy and Water Projects?

Cadiz Inc. appointed David Sickey, former Chairman of the Coushatta Tribe, as Senior Advisor for Energy and Water Projects.

What is David Sickey's background and experience relevant to his new role at Cadiz Inc. (CDZI)?

David Sickey has 18 years of tribal government experience and recently served as Senior Consultant to the U.S. Department of Energy's Loan Programs Office, focusing on the Tribal Energy Finance Program.

What major project is Cadiz Inc. (CDZI) developing in the Southwestern U.S.?

Cadiz Inc. is developing one of the largest groundwater banking projects in the Southwestern U.S.

How much land and water does Cadiz Inc. (CDZI) own in the Mojave Desert?

Cadiz Inc. owns 45,000 acres of land and water in the Mojave Desert.