Cadiz signs second MOU for Hydrogen-Solar Development at Cadiz Ranch

Cadiz (CDZI) announced that it has entered into a Memorandum of Understanding with UK-based Hoku Energy Limited and its affiliates to develop a major clean energy campus at Cadiz Ranch in California’s Mojave Desert. The MOU with Hoku represents the second prospective land lease for clean energy development that the Company has entered within the past year and furthers the Company’s commitment to sustainable development of its land and water assets. The MOU provides Hoku Energy with a three-year exclusive option to develop the project on more than 10,000 acres at Cadiz Ranch. The Hoku project could include green hydrogen production facilities, large-scale renewable and low carbon power generation, large scale battery storage facilities, and integrated digital infrastructure, such as data centers, on the leased property or integrated with facilities off the leased property.