Company Develops Large-Scale Power, Land, and Connectivity — the Resources the AI Economy Needs Most — as It Executes Its Merger and Development Agreement with AZIO AI
HOUSTON–(BUSINESS WIRE)–Envirotech Vehicles, Inc. (NASDAQ: EVTV) (“EVTV” or the “Company”) today announced significant progress building a large-scale, energy-backed digital infrastructure platform designed to serve the accelerating power demands of artificial intelligence and data center growth, as the Company continues executing on its previously announced Merger and Development Agreement (“MDA”) with AZIO AI.
The Company is developing the power, land, and connectivity that AI and high-performance computing operators require — resources for which, in the Company’s view, access to large and reliable electricity supply has become a primary constraint on growth. To meet that demand, EVTV has established a development platform engineered to support up to 500 megawatts (MW) of planned behind-the-meter power capacity.
To illustrate the scale of that capacity: 500 MW is roughly enough electricity to power a mid-sized American city — on the order of 375,000 homes — and is comparable to the power that runs a large artificial intelligence data center campus, the kind being developed by the world’s largest technology companies.
The Company currently operates approximately 6 MW of deployed digital infrastructure, with additional deployment phases underway — operational capacity in the ground today and a defined development path toward a substantially larger platform. Alongside its power development, EVTV has expanded its controlled development footprint to more than 548 acres, positioning the Company on the supply side of one of the fastest-growing demand curves in the global economy.
Executing the Merger and Development Agreement with AZIO AI
While the proposed transaction with AZIO AI remains subject to customary closing conditions, EVTV and AZIO AI have continued working collaboratively to advance infrastructure planning, energy development, site expansion, fiber deployment, and long-term digital infrastructure opportunities.
Since execution of the MDA, the Company has expanded its controlled development footprint to more than 548 acres through executed lease agreements, development rights, and strategic site-control arrangements. It has established the platform supporting up to 500 MW of planned behind-the-meter power capacity, positioning EVTV to pursue opportunities across artificial intelligence, enterprise computing, cloud infrastructure, high-performance computing, and energy-backed digital infrastructure markets.
The Company has further secured dedicated fiber infrastructure for current operations and future expansion, while advancing natural gas interconnection activities and energy infrastructure planning designed to support scalable growth.
Management believes the combination of strategic land control, scalable energy resources, dedicated connectivity, and disciplined infrastructure development creates a platform capable of supporting long-term demand from some of the fastest-growing segments of the global economy.
Key Development Milestones
- Controlled development footprint expanded to more than 548 acres
- Development platform engineered to support up to 500 MW of planned behind-the-meter power capacity — comparable to the energy needs of a large AI data center campus
- Approximately 6 MW of digital infrastructure currently operational, with additional deployment phases underway
- Dedicated fiber infrastructure secured for current and future operations
- Natural gas interconnection requests progressing through engineering review
- Multi-phase infrastructure strategy supporting artificial intelligence, enterprise computing, cloud services, and high-performance digital infrastructure
Management Commentary
“Since announcing our Merger and Development Agreement with AZIO AI, our focus has remained on execution,” said Elgin Tracy, President of Envirotech Vehicles. “Everyone is talking about artificial intelligence — but AI does not run without power, land, and connectivity, and those are the assets we are securing. We have expanded our footprint past 548 acres, established a platform engineered for up to 500 MW of planned capacity, and advanced the fiber and energy planning needed to scale. We believe this progress represents important milestones toward building long-term value for our shareholders.”
Chris Young, Chief Executive Officer of AZIO AI, added, “While the transaction remains subject to customary closing conditions, our organizations have continued collaborating on the development initiatives that support future growth. The combination of controlled acreage, scalable energy resources, dedicated fiber connectivity, and long-term infrastructure planning provides a strong foundation for the demand opportunity we see ahead.”
Looking Ahead
The Company intends to continue advancing infrastructure deployment, site development, energy supply initiatives, interconnection activities, and strategic partnerships as it executes its long-term growth strategy. Additional updates regarding development milestones, infrastructure expansion, merger-related activities, and commercial initiatives will be provided as material developments occur.
About Envirotech Vehicles, Inc.
Envirotech Vehicles, Inc. (NASDAQ: EVTV) is a technology-focused infrastructure company executing a strategic transition toward AI compute, digital asset mining, and energy-backed data center operations, anchored by behind-the-meter natural gas power in South Texas.
About AZIO AI
AZIO AI is an artificial intelligence infrastructure company focused on the sale and distribution of GPUs and server racks, co-development of AI data center capacity in domestic and international markets, and operation of compute and Bitcoin mining systems.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as “may,” “will,” “could,” “expect,” “anticipate,” “believe,” “estimate,” “project,” “intend,” “continue,” “potential,” “ongoing,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements include statements regarding installation and deployment of modular Bitcoin mining container infrastructure, estimated operating power costs, ability to generate revenue from Bitcoin mining container infrastructure, AZIO AI’s delivery of GPU infrastructure, AZIO AI’s ability to expand its pipeline with additional GPU infrastructure opportunities, EVTV’s ability to advance fiber connectivity to its South Texas site, AZIO AI’s ability to support deployment and operations across compute infrastructure, EVTV’s ability to expand its power capacity at its South Texas site, customer demand for GPU compute infrastructure, the parties’ ability to scale their modular data infrastructure, anticipated filing and effectiveness of the Form S-4, the expected timing of consummation of the proposed merger, the ability of the parties to satisfy the conditions to completion of the proposed merger, including the receipt of required stockholder approval, the expected post-closing listing and trading of the combined company’s shares on the Nasdaq Capital Market, anticipated benefits and synergies of the proposed merger, and the Company’s broader business strategy. These statements are based on current expectations and assumptions that involve risks and uncertainties that could cause actual results to differ materially. Most of these factors are outside the Company’s control and are difficult to predict. Factors that may affect actual results include, but are not limited to, the Company’s limited operating history within AI infrastructure and compute operations, project scope, engineering challenges, supply chain constraints, installation timelines, energy availability, finalization of site usage rights, regulatory considerations, SEC review timing, equipment performance, ability to raise capital required for expansion activities, changes in digital asset markets, evolving compute demand, market conditions, the risk that the closing conditions to the proposed merger are not satisfied or waived, including the failure to obtain required stockholder approval or the failure of the SEC to declare the Form S-4 effective on a timely basis or at all; uncertainties as to the timing of the consummation of the proposed merger; the risk that the proposed merger disrupts the Company’s current plans, operations, or business relationships; the risk of unexpected costs, charges, or expenses resulting from the proposed merger; the risk that the anticipated benefits and synergies of the proposed merger are not realized; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed merger; risks related to the diversion of management’s attention from ongoing business operations during the pendency of the proposed merger; risks related to the Company’s ability to maintain its Nasdaq listing pending the closing of the proposed merger; and additional risks and uncertainties described in the Company’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed with the SEC, which are available at www.sec.gov. The Company undertakes no obligation to update forward-looking statements except as required by law.
No Offer or Solicitation
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor a solicitation of any vote or approval with respect to the proposed merger or otherwise. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and otherwise in accordance with applicable law.
Contacts
MEDIA CONTACT
Phoenix MGMT & Consulting
Press@PhoenixMGMTConsulting.com
888-228-0122
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