Envirotech Vehicles, Inc. (EVTV) announced that it has secured its first purchase order from Azio AI for 28 next‑generation ASIC compute systems, a deal that will be deployed within EVTV’s liquid‑immersion‑cooled modular container platform. The order, announced on February 20, 2026, marks a milestone in EVTV’s transition from a niche electric‑vehicle manufacturer to a broader AI infrastructure provider.
The transaction is part of Azio AI’s broader infrastructure validation initiative, which aims to test high‑density power utilization, immersion cooling, and scalable energy integration. The ASIC systems will support SHA‑256 compute workloads, generating Bitcoin yields, and will serve as a proof‑of‑concept for future high‑performance computing deployments. By owning the ASICs and leasing the power infrastructure, EVTV retains control over the hardware while Azio AI leads integration and optimization, creating a revenue‑sharing model that aligns incentives for both parties.
EVTV’s move comes amid a proposed $480 million acquisition of Azio AI that would transform the company’s business focus. In 2024, EVTV reported revenue of $1.87 million, a 34.68% decline from the prior year, and losses of $8.85 million, underscoring the urgency of diversifying beyond its struggling electric‑vehicle segment. The new order provides an early revenue stream in the AI space and signals investor confidence in the merger, which could unlock significant growth potential in a high‑margin market.
Market reaction to the announcement was positive, with EVTV shares rising 15–22% in pre‑market trading on February 20. Analysts view the order as a tangible step toward the merger and a validation of EVTV’s new strategic direction. The deal also positions EVTV to capitalize on the rapid expansion of AI infrastructure demand, potentially offsetting the company’s historical financial headwinds.
The partnership illustrates how EVTV is leveraging its existing modular container platform to enter a new industry. By integrating ASIC compute systems into its liquid‑immersion‑cooled containers, EVTV can offer a differentiated, high‑density solution that appeals to data‑center operators and cryptocurrency miners alike. This diversification strategy aligns with broader market trends toward edge computing and specialized AI workloads, offering a pathway to higher margins and recurring revenue streams.
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