AZIO AI Holdings, Inc. (NASDAQ: AZIO) announced a power purchase and hosting agreement with Power Champion Investment Limited at its Atlas One compute infrastructure campus in South Texas. The agreement establishes an initial contracted capacity of 10 megawatts (MW), with expansion rights up to 50 MW, subject to infrastructure improvements and other conditions. AZIO AI will provide power, leased facility space, interconnectivity and hosting services for artificial intelligence (AI) computing equipment.
At the initial capacity, the company expects approximately $1.5 million in monthly capacity reservation charges, totaling $90 million over the five-year initial term, excluding electricity sales and additional services. Full expansion to 50 MW could generate approximately $450 million in capacity reservation charges over the same period. The agreement marks the first hosting contract at Atlas One, a 548-acre campus designed for up to 500 MW of planned power capacity. Approximately 11 MW has been secured to date, including 6 MW currently activated.
However, no capacity has yet been energized under the new agreement, and expansion beyond the initial 10 MW has not been exercised. Service commencement remains subject to infrastructure development, required U.S. export control approvals and other contractual conditions. These contingencies highlight the early-stage nature of the deal and the execution risks involved in developing large-scale AI infrastructure.
The agreement underscores the growing demand for power-intensive compute infrastructure to support AI workloads. AZIO AI Holdings, formerly Envirotech Vehicles, Inc. (Nasdaq: EVTV), is a technology infrastructure company focused on developing, owning, and operating artificial intelligence data centers, enterprise GPU compute infrastructure, digital power solutions, and other high compute operations. Through Project Atlas, the company is developing behind-the-meter, power-backed campuses in Texas intended to support power-intensive compute workloads as additional generation, connectivity, customer commitments, and capital are secured.
For investors, this first hosting contract at Atlas One represents a significant milestone in AZIO’s transition to an AI infrastructure provider. The potential $450 million contract value, if fully realized, could provide substantial long-term revenue. However, the deal’s dependence on infrastructure buildout and regulatory approvals means that near-term revenue recognition may be delayed. The company’s ability to secure additional customers and expand capacity will be critical to its success.
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