Platform

One site. Four businesses on the same land, power and water.

Phase 1 green hydrogen is the foundation. The same site can support green ammonia for California agriculture, renewable power for data centers, and a repeatable model for new sites across the West.

Roadmap

Built in phases, each on the last.

Phase 1 stands on its own. Later phases are options that use the same infrastructure and will each need their own approvals, partners and capital.

Phase 1

Green hydrogen

40 MW of electrolysis powered by dedicated solar and storage, supplying ports, transit, industry and power plants.

In development
Phase 2

Ammonia & fertilizer

Convert hydrogen into ammonia for California agriculture, which today relies on imported supply.

Planned option
Phase 3

Renewable power for data centers

Use the site's land, solar, storage and hydrogen to supply firm renewable power to co-located computing.

Concept
Phase 4

New sites across the West

Repeat the model where land, sun, water and freight corridors meet, in Arizona, Nevada and beyond.

Concept

Phase 2 · Ammonia

California farms run on imported ammonia.

Ammonia is the base of nitrogen fertilizer, and most U.S. ammonia is made from natural gas in the Gulf states, far from California's farms. With the state's last fertilizer manufacturer closed, California imports its ammonia by sea, and farmers carry the price swings that come with it.1

Green hydrogen plus nitrogen from the air makes ammonia with no natural gas. Produced in-state, it shortens supply chains for Central Valley agriculture and gives the project a second, established market for its hydrogen.

  • An existing, large buyer base: fertilizer is a mature commodity, not an emerging market
  • Ammonia is easier to store and ship than hydrogen, so it can serve buyers far from the site
  • Longer term, ammonia is a leading candidate fuel for zero-emission shipping
1.18M+ tammonia imported into California each year1
0fertilizer manufacturers left in California after the last one closed1
88%of U.S. ammonia goes to fertilizer2
57%of U.S. ammonia capacity sits in Louisiana, Oklahoma and Texas2

Ammonia price paid by California farmers, $ per ton1

2020
$450
Spring 2023
$1,116 (+148%)

Phase 3 · Data centers

AI needs power faster than grids can deliver it.

U.S. data centers already use about 4.4% of the nation's electricity, and Lawrence Berkeley National Laboratory projects that share could reach 6.7% to 12% by 2028, driven by AI.3 Hyperscale buyers want carbon-free power that is available around the clock and does not wait years in a grid interconnection queue.

Cadiz offers what most sites cannot: large, remote acreage, its own solar and storage, and water. That makes it a candidate for co-located computing powered on site, with stored hydrogen for the hours solar and batteries cannot cover.

California law now supports that design. Under SB 1350, signed in June 2026, electricity from turbines burning at least 20% green hydrogen counts toward the state's Renewables Portfolio Standard.4 Hydrogen-fired power can be both firm and renewable, which is what around-the-clock computing needs.

  • Power generated on site, without waiting on the grid
  • Room to expand solar and storage on the same land
  • Hydrogen turbines for overnight and multi-day firming, counted as renewable under SB 1350
  • Status: concept. Any data center phase would need a hyperscale or colocation partner and its own permits.

U.S. data center electricity use, TWh per year3

2023
176 TWh (4.4%)
2028 low
325 TWh (6.7%)
2028 high
580 TWh (12%)

2028 values are the range of LBNL's projection scenarios.

Phase 4 · Replication

A model, not a one-off.

The site criteria that make Cadiz work exist elsewhere in the Southwest: large private land, strong sun, secured water and a freight corridor to buyers. Each future site would be a separate project with its own development and financing.

For investors

How to read the platform.

Phase 1

Underwritten on its own

The Phase 1 case does not depend on later phases. Its revenue is hydrogen sales into the markets on our Markets page.

Later phases

Options, not promises

Ammonia, power and new sites are options built on the same infrastructure. Each needs further engineering, permits, partners and capital.

Why it matters

Upside on shared assets

Land, water, power and permitting work done for Phase 1 lower the cost and time of every phase after it.

Sources

Where the numbers come from.

  1. Industrious Labs, comment letter to CARB on SB 1075, ammonia and fertilizer (Nov 2023): California imports more than 1.18 million tons of ammonia a year; its only fertilizer manufacturer closed; ammonia rose from $450 to $1,116 per ton between 2020 and spring 2023.
  2. U.S. Geological Survey, Mineral Commodity Summaries 2026: Nitrogen (Fixed)—Ammonia.
  3. Lawrence Berkeley National Laboratory, 2024 United States Data Center Energy Usage Report (Dec 2024).
  4. SB 1350 (McNerney, 2026), Renewables Portfolio Standard eligibility for hydrogen-fueled generation: Senator McNerney's office and the Assembly committee analysis (June 2026). See also the Power section of our Markets page.

Later phases are concepts and options under evaluation; they are not part of any current financing and may not proceed. This page is for information only and is not an offer to sell or a solicitation of an offer to buy any security.

Partner on Phase 1.

We are speaking with infrastructure investors, lenders, offtakers and strategic partners. Qualified parties can request the investor deck and data room under NDA.

Information for investors →
Contact Jason Thompson
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