Cadiz's ATEC Water Systems secures $1.5 million in new groundwater filtration contracts
(UI) — Cadiz Inc. announced that its subsidiary, ATEC Water Systems, LLC, has secured three new sales contracts for iron and manganese filtration systems, projected to generate $1.5 million in revenue in 2024.
The contracts involve groundwater treatment in Wisconsin, Nevada, and Washington state, including projects at the University of Wisconsin-Madison, Portland suburbs, and rural Nevada clean energy sites.
"The Board and I are extremely pleased by ATEC's rapid progress in delivering clean, affordable water to communities and cities across the nation," Susan Kennedy, Cadiz chairman and CEO, said. "Contaminated groundwater is a growing global threat, including right here in the United States — especially in underserved communities. ATEC tackles this pressing need with a breakthrough technology that delivers affordable solutions today, and positions Cadiz for continued growth and long-term value well into the future."
Iron and manganese, common in groundwater, can cause discolored water, bacteria growth, and taste issues. The U.S. EPA is considering regulations due to potential health risks, especially for young children.
"Nearly 40% of all groundwater systems in the U.S. exceed iron and manganese secondary drinking water standards and ATEC is tremendously well-positioned to deliver the most effective and affordable option for communities affected by these contaminants throughout North America," said Lee Odell, ATEC's COO.
ATEC’s filtration systems use specialized media to remove these contaminants through adsorption. The new contracts involve 24", 30", and 48" filters, set for delivery by year-end. ATEC has supplied over 400 such systems in the past three decades and also offers solutions for arsenic, hexavalent chromium, and nitrates.
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