CDZIP - Cadiz Subsidiary ATEC Water Systems Awarded $5.2 Million Contract Increases ATEC 2024 Revenue Forecast to $15 Million from $12 Million | Benzinga
Award Represents ATEC's 12th Successful Bid within the last 12 Months
LOS ANGELES, May 13, 2024 /PRNewswire/ -- Cadiz, Inc. (NASDAQ:CDZI) ("Cadiz" or the "Company"), a California water solutions company, is pleased to announce today that the Company's water treatment operating subsidiary ATEC Water Systems, LLC ("ATEC"), a leading producer of specialized water filtration solutions for groundwater, was the successful bidder to supply water treatment filtration systems for the Cascade Groundwater Alliance treatment project in Gresham, Oregon ("Cascade Project"). Under the terms of the award, ATEC will manufacture 140 filters to remove manganese from local groundwater for a total gross contract value of approximately $5.2 million. The filters are anticipated to be delivered over the next 12 months.
"We believe ATEC solutions offer the most affordable and effective water treatment solution on the market to address iron, manganese, arsenic, nitrates, and many other constituents of concern," said Susan Kennedy, Chairman and CEO of Cadiz. "Addressing the growing threat of groundwater contamination is the key to making the human right to water a reality for all. We welcome the opportunity to support the Cascade project and improve access to clean water in Gresham."
ATEC has experienced rapid growth in orders in 2024 propelled by tightening water quality regulatory standards and ...