HOUSTON, TX / ACCESS Newswire / March 12, 2026 / Envirotech Vehicles, Inc. (NASDAQ:EVTV) ("Envirotech" or the "Company") today announced that it has placed an order with Azio AI for approximately 3 megawatts (MW) of modular digital infrastructure equipment intended for deployment at the Company's South Texas energy-integrated data center pilot site.

This order follows the Company's previously announced financing transaction, pursuant to which Envirotech entered into a definitive agreement with YA II PN, Ltd. (the "Buyer") to receive up to $10.5 million in gross proceeds (following the deduction of a one-time due diligence and structuring fee of $25,000) in exchange for the issuance to Buyer of up to $11.0 million in aggregate principal amount of debentures in two tranches. The first tranche of $4.0 million in aggregate principal amount of the debentures was issued and sold by the Company to the Buyer on March 6, 2026, resulting in gross proceeds to the Company of $3.8 million. The closing of the remaining $7.0 million in aggregate principal amount of the debentures will occur on or before the first business day after the effective date of the registration statement to be filed by the Company with the U.S. Securities and Exchange Commission (the "SEC") to register for resale by the Buyer no less than 10 million shares of the Company's common stock issuable pursuant to the Amended and Restated Standby Equity Purchase Agreement, dated October 31, 2024, by and between the Company and the Buyer, as amended and supplemented by the Supplemental Agreement, dated February 24, 2025, and the shares of the Company's common stock issuable upon exercise of the warrants issued to the Buyer at the closing of the initial tranche of debentures as a commitment fee for the financing (such registration statement, the "Resale Registration Statement"), and subject to the satisfaction or waiver of customary closing conditions. For further information regarding the debenture financing, please refer to the Current Report on Form 8-K filed by the Company with the SEC on March 9, 2026.

The debenture financing was undertaken to support general corporate and working capital purposes as well as the Company's strategic initiatives, which may include the development of energy-integrated computing infrastructure projects such as the South Texas pilot site.

The infrastructure deployment is being developed in conjunction with Azio AI Corporation ("Azio AI"), which is supporting the project through procurement coordination and technical infrastructure integration. Azio AI is responsible for assisting with equipment sourcing, system architecture planning, and technical implementation related to the deployment of the modular computing infrastructure.

The equipment is expected to support the initial build-out of containerized, liquid-cooled computing infrastructure designed for high-density digital workloads and modular deployment environments. The systems are being developed to integrate power management, thermal management, and networking components within self-contained infrastructure modules that are expected to be capable of supporting a variety of computing applications.

The infrastructure is designed to operate in conjunction with onsite energy resources, allowing the Company to evaluate the integration of modular computing infrastructure with local power generation at the location utilizing well gas. The pilot project is intended to provide operational data regarding energy efficiency, infrastructure reliability, and deployment scalability at this initial site.

The initial hardware deployment includes ASIC-based computing systems operating within the modular container infrastructure. This configuration allows the Company to perform real-world testing of the site's energy, cooling, and networking systems while generating operational data from live computing workloads.

The underlying infrastructure is being deployed with flexibility in mind, and the Company intends to evaluate additional computing applications over time. These may include high-performance computing ("HPC"), artificial intelligence ("AI") infrastructure, and other advanced data center workloads, subject to technical feasibility, market conditions, and capital availability.

The Company is also announcing that initial infrastructure at the South Texas site has been energized as part of the phased commissioning process. A portion of the first modular system has been connected to onsite power and is currently operating within a controlled commissioning environment while integration with the site's electrical and cooling infrastructure continues.

This staged activation allows the Company to begin operational testing and infrastructure validation, including power stability, thermal management, and system monitoring, while additional components of the deployment are installed and integrated. The initial commissioning process is expected to take approximately two weeks and is intended to provide operational insights regarding potential deployment scale and available MW capacity at the site. The commissioning process is expected to continue in phases as the Company advances the broader infrastructure build-out associated with the site.

Deployment activities are expected to follow a phased installation and commissioning process that includes:

  • Pre-site engineering and power quality verification, including analysis of voltage stability, frequency characteristics, and related electrical conditions at the site.

  • Power infrastructure integration, including electrical design planning, cable and transformer specification guidance, and connection to onsite generation systems.

  • Infrastructure installation, including setup of internal liquid cooling systems and testing of fluid circulation and thermal management systems.

  • Network and systems configuration, including installation of internal networking infrastructure and remote monitoring systems.

  • Commissioning and operational validation, including staged system startup procedures and system performance testing.

The South Texas project represents an initial pilot deployment intended to evaluate the feasibility of scaling modular computing infrastructure at energy-adjacent locations. Insights from this deployment may inform future infrastructure development as the Company explores opportunities related to energy-integrated data center environments capable of supporting advanced computing applications.

If successful, the Company believes the South Texas pilot site may provide a framework for evaluating additional locations where stranded or underutilized energy resources could potentially support scalable computing infrastructure deployments in the future.

About Envirotech Vehicles, Inc.

Envirotech Vehicles, Inc. (NASDAQ:EVTV) is a technology-focused company pursuing strategic initiatives designed to enhance long-term shareholder value through platform transformation, operational realignment, and selective acquisitions.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding the closing of the remaining tranche of $7.0 million in aggregate principal amount of the Company's debentures, the filing and effectiveness of the Resale Registration Statement, anticipated infrastructure deployment, the expected timeline for the initial commissioning process, operational testing, potential scalability of the South Texas site and energy-adjacent locations, the integration of computing infrastructure with onsite energy resources, potential computing workloads including AI or HPC applications, and the Company's ability to support computing infrastructure at the South Texas location. These statements are based on current expectations and assumptions that involve risks and uncertainties that could cause actual results to differ materially. Factors that may affect actual results include, but are not limited to, the Company's ability to satisfy the conditions to the closing of the remaining tranche of its debentures and the timing thereof, changes in project scope, engineering challenges, supply chain constraints, installation timelines, energy availability at the site, regulatory considerations, equipment performance, changes in digital asset markets, evolving computing demand, market conditions, and other risks described in the Company's filings with the Securities and Exchange Commission. Envirotech undertakes no obligation to update forward-looking statements except as required by law.

MEDIA CONTACT

Phoenix Management Consulting
[email protected]
888-228-0122

SOURCE: Envirotech Vehicles, Inc



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