A publicly traded company announced Tuesday that it has secured $51 million in financing from Lytton Rancheria of California, marking the first tribal investment in the Mojave Groundwater Bank, a water supply and groundwater storage project planned as the largest groundwater bank in the Southwest. Cadiz Inc., a Los Angeles-based water solutions company, reported it is raising the capital through Mojave Water Infrastructure Company LLC, a special-purpose entity formed to construct, own and operate the project. The federally recognized tribe’s investment represents the first tranche of approximately $450 million in total equity capital the company is raising for the project.

Other groundwater news:

• Westside Connect (Newman, Calif.): Newman, Gustine Councils advance groundwater agreements, well protection policy​