Cadiz's ATEC Water Systems Hires Chief Commercial Officer

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Sep 27, 2024, 08:30 ET

Fortune 500 industry veteran Steve Green to drive business development aimed at growth

LOS ANGELES, Sept. 27, 2024 /PRNewswire/ -- Cadiz, Inc. (NASDAQ: CDZI / CDZIP) ("Cadiz" or the "Company"), a California water solutions company, today announced the Company's operating subsidiary ATEC Water Systems, LLC ("ATEC") expanded its leadership team, hiring Steve Green as its Chief Commercial Officer. Green brings decades of water industry experience including business development leadership for Fortune 500 water tech companies in North America.

ATEC Water Filters Logo

"With his extensive water industry experience, Steve is a valuable addition to the ATEC team," said Susan Kennedy, Cadiz CEO and Board Chair. "Groundwater contamination is a massive growing threat and Steve's proven leadership in business development will drive Cadiz' water treatment segment to new levels of growth.

Mr. Green is an accomplished sales, marketing and business development leader with extensive experience in both the public and corporate sectors with a track record of achieving growth targets and expanding sales and market share. Green built his expertise and 25-year career at several global leaders in manufacturing and engineering consulting companies specializing in commercializing water treatment systems. He has worked with a range of public entities and private/public partnerships and assembled design-build-finance-operate teams to deliver comprehensive solutions to both water utilities and industries in 7 countries.

Prior to joining ATEC, Green served in several Business Development management roles at industry leading engineering and water technology firms including Stanley Consulting, where he served as Practice Leader for Digital Water Technology Service, and Xylem Inc., a Fortune 500 global water technology provider, where Green was Business Development Leader for water utilities in the Americas region. Green also has held business development leadership positions at NW Natural Water, a private utility that provides water distribution and wastewater services in the Pacific Northwest, Texas and Arizona, and WaterTectonics, a full-service water treatment solutions firm focused on utility and industrial applications.

"ATEC offers innovative options for communities striving to access clean water," said Steve Green, ATEC's Chief Commercial Officer. "ATEC's treatment system has successfully removed contaminants such as iron and manganese from groundwater for over 30 years, and we are also pioneering solutions for new contaminants of concern including arsenic, PFAS and chromium-6 that are impacting water quality for so many communities. I look forward to bringing all of ATEC's innovative solutions to new markets and growing ATEC's market presence across the country."

The ATEC treatment system uses filter media to remove common groundwater contaminants by adsorption. The filters and systems are fully scalable and can be manufactured to different sizes and specifications depending on the volume of groundwater treated, from small rural systems to systems treating up to 60 mgd per day. ATEC has manufactured and delivered more than four hundred treatment systems over the last three decades in communities in 10 western states and Canada.

About ATEC
ATEC Water Systems, LLC is a wholly owned subsidiary of Cadiz, Inc. (NASDAQ: CDZI) and a leading producer of specialized water filtration solutions for contaminated groundwater sources. ATEC's filtration solutions are affordable, highly scalable, and easy to maintain, making them practical for a variety of applications from small, underserved communities to large municipalities. ATEC's filters have been installed at over 450 locations, including community, municipal, agricultural, and industrial sites and used to successfully reduce and remove iron, manganese, arsenic, chromium-6 and other constituents of concern, solving some of the toughest groundwater treatment challenges. To learn more, visit www.atecwater.com.

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 Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "anticipates", "expect", "may", "plan", or "will". Forward-looking statements include, without limitation, projections, predictions, expectations, or beliefs about future events or results and are not statements of historical fact, including statements regarding the Company's expectations regarding ATEC's anticipated development of filtration solutions for new contaminants of concern like PFAS, and anticipated growth of ATEC sales and market share.. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements. These and other risks are identified in our filings with the Securities and Exchange Commission (the "Commission"), including without limitation our Annual Report on Form 10-K for the year ended December 31, 2023 and our Quarterly Reports on Form 10-Q and other filings subsequently made by the Company with the Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. We do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.

SOURCE Cadiz, Inc.