Azio AI Confirms First ASIC Order from Envirotech Vehicles for Compute Validation

Azio AI Corporation confirmed on February 20, 2026, that it has received its first purchase order from Envirotech Vehicles, Inc. (EVTV) for twenty-eight next-generation Application-Specific Integrated Circuit (ASIC) compute systems. The transaction is notable as Azio AI has already received full payment for this initial hardware tranche. Delivery of the specialized ASIC units is scheduled to begin in the ensuing weeks for immediate deployment within EVTV's existing liquid-immersion-cooled modular container infrastructure.

This deployment phase is specifically engineered to subject the hardware to rigorous performance metrics, utilizing specialized SHA-256 compute workloads that concurrently generate Bitcoin yields. The primary objectives involve validating critical indicators such as sustained high-density power utilization and the superior cooling efficiency afforded by the immersion technology. This initial deployment is intended to establish operational benchmarks that will inform future scalable multi-megawatt expansion plans for the AI infrastructure platform. This operational shift follows a January 2026 pilot program where both entities successfully validated high-density cooling frameworks, moving the project from the design phase into active execution.

This commercial engagement occurs against the backdrop of a potential strategic business combination between the two entities. The proposed merger framework, initially outlined in a Letter of Intent, values Azio AI at an implied $3.00 per EVTV share, based on an independent third-party valuation placing Azio AI's enterprise value at approximately $480 million. Under the contemplated structure, approved by EVTV's Board of Directors on January 6, 2026, Azio AI would become a wholly owned subsidiary and is expected to function as the primary operating entity post-closing. Azio AI CEO Chris Young is slated to assume the Chief Executive Officer role at EVTV following the merger.

Envirotech Vehicles, Inc., which focuses on purpose-built zero-emission electric vehicles, is diversifying its revenue streams into advanced infrastructure markets, a strategy underscored by this collaboration. The company, which reported a net loss of $25.54 million for the nine months ending September 30, 2025, against $3.45 million in revenue, is leveraging Azio AI's expertise in high-performance compute and modular data-center solutions. Azio AI, a spin-off from AZIO Corporation, projects revenues between $349 million and $500 million for the current fiscal year and maintains a projected EBITDA margin between 20 and 30 percent. The integration of Azio AI's capabilities is intended to pivot EVTV from its legacy vehicle manufacturing focus toward a scalable AI technology platform utilizing hardware components such as NVIDIA GPUs and Supermicro servers.

The current ASIC order signifies a tangible progression beyond the milestone achieved on January 26, 2026, when EVTV and Azio AI completed the installation and energization of a 40-foot immersion-cooled AI data center container in Houston. That prior deployment confirmed the infrastructure's readiness for high-density AI computing, thermal efficiency, and operational resilience, targeting greater than 99% uptime. The successful execution of this initial hardware deployment is a critical step in validating the economic viability and technical performance of the combined infrastructure strategy.