Los Angeles Business Journal

Water District Approves Cadiz Water Plan

Originally published August 1, 2012 at 9:09 a.m., updated August 1, 2012 at 2:35 p.m.

Shares of Cadiz Inc. jumped 40 percent on Wednesday after the Santa Margarita Water District in Orange County approved plans to purchase water from the Los Angeles company.

Southern California Public Radio reports that environmental groups continue to lobby for better conservation measures as a primary way to meet water demands.

Shares closed up $2.84, or 40 percent, to $9.94 on the Nasdaq.