Cadiz says EPA selects MGB-NPL Project to submit WIFIA loan application

Cadiz (CDZI) announced that the U.S. Environmental Protection Agency has selected the Mojave Groundwater Bank – Northern Pipeline Project to submit an application for a low-interest loan of up to $194 million to fund capital costs under the federal Water Infrastructure Finance and Innovation Act program. WIFIA, established by Congress in 2014, is a federal financing program designed to accelerate investment in nationally significant water and wastewater infrastructure projects. EPA’s selection means that EPA has administratively reserved $194 million for the Company’s Northern Pipeline Project and has invited the Company to submit an application. EPA will hold this funding in reserve while the Company advances an application through the WIFIA underwriting process.