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AZIO AI Signs First Hosting Agreement at Atlas One with Power Champion; 10 MW Contracted, with Expansion Rights to 50 MW Representing Up to Approximately $450 Million in Capacity Reservation Charges

Initial 10 MW deployment expected to generate approximately $90 million in capacity reservation charges over the 60-month initial term, before electricity sales; the $450 million figure assumes full exercise of expansion rights to 50 MW, which has not occurred

HOUSTON, Oct. 09, 2026 (GLOBE NEWSWIRE) -- via IBN — AZIO AI Holdings, Inc. (Nasdaq: AZIO) (“AZIO AI” or the “Company”) today announced that it has entered into a Power Purchase and Hosting Agreement (the “Agreement”) with Power Champion Investment Limited (“Power Champion”) covering power delivery, leased facility space and interconnectivity services at Atlas One, the Company’s South Texas compute infrastructure campus. The Agreement establishes an initial contracted capacity of 10 megawatts (“MW” and such capacity, the “Initial Contracted Capacity”), with contractual expansion rights of up to a maximum contracted capacity of 50 MW (the “Maximum Contracted Capacity”), subject to the completion of required infrastructure improvements and other conditions described below.

The approximately $450 million figure referenced in the headline of this release represents capacity reservation charges that would be payable only if Power Champion exercises its expansion rights in full to the Maximum Contracted Capacity, all required infrastructure is completed and all such capacity is energized. As of the date of this release, the parties have committed to only the Initial Contracted Capacity under the Agreement, no capacity has been energized under the Agreement, and no expansion right has been exercised.

The Agreement is the first hosting agreement executed at Atlas One. In an Aug. 27, 2026, announcement, the Company disclosed that it was in discussions with Power Champion regarding potential hosting at the campus and that no agreement had been entered into. The Agreement concludes those discussions.

The Agreement does not amend, replace, or supersede the power purchase and hosting agreement with Power Champion announced on July 9, 2026. The Initial Contracted Capacity, Maximum Contracted Capacity, capacity reservation charges, and energy rates described in this release relate solely to the Agreement and to Atlas One.

Under the Agreement, AZIO AI will serve as Power Champion’s exclusive power supplier at the leased premises and will provide hosting, interconnectivity, and related infrastructure services supporting Power Champion’s deployment of AI GPU processors and associated advanced computing equipment.

Key Commercial Terms

  • Contracted Capacity. Initial Contracted Capacity of 10 MW, with the right to request increases up to a Maximum Contracted Capacity of 50 MW — subject to available capacity at the facility, completion of required infrastructure improvements, execution of an amendment, and the Company’s written confirmation that site infrastructure can support the increase.
  • Capacity Reservation Charge. $150.00 per kilowatts (kW) per month of contracted capacity actually delivered and made available under the Agreement. Power Champion is not obligated to pay reservation charges on capacity that has not been energized.
  • Energy. Fixed energy rate of $0.13 per kilowatt-hour (kWh) for metered consumption during the Initial Term (as defined below), plus pass-through utility, transmission, regulatory, and tax charges billed at cost without markup. Energy charges are additional to, and not included in, the capacity reservation figures described in this release.
  • Term. Initial term of sixty (60) months (the “Initial Term”) from the date on which the Company notifies Power Champion that the Initial Contracted Capacity is energized and available (the “Commencement Date”), with automatic successive twelve-month renewal terms absent notice of non-renewal 90 days prior to the expiration of the applicable renewal term.
  • Phased delivery. Capacity will be energized in phases. Achievement of Phase 1 — delivery of at least the 10 Initial Contracted Capacity — establishes the Commencement Date.
  • Cost allocation. AZIO AI will fund site qualification work — including interconnection, substation, primary distribution, and backbone fiber — at its own cost and will retain ownership of those improvements. Power Champion will fund the customer-specific build-out serving its load, which will be installed as property of AZIO AI and remain at the facility following expiration or termination.
  • Availability. 99.9% annualized power availability commitment, subject to customary exclusions, with service credits as the exclusive remedy.

Contract Economics

At the Initial Contracted Capacity, the Company expects the Agreement to generate approximately $1.5 million per month, or approximately $90 million in capacity reservation charges over the Initial Term, before electricity sales and additional infrastructure services. If Power Champion were to exercise its expansion rights in full to the Maximum Contracted Capacity and all required infrastructure were completed, the Company estimates capacity reservation charges could total approximately $450 million over the Initial Term, before electricity sales and additional infrastructure services.

Capacity reservation charges are payable only on capacity actually delivered and made available. No assurance can be given that any expansion rights will be exercised, that any capacity beyond the initial phase will be energized, or that the Company will realize any portion of these amounts. Additional terms of the Agreement will be described in a Current Report on Form 8-K to be filed with the Securities and Exchange Commission.

Atlas One — Current Capacity Position

Announced on Aug. 20, 2026, Atlas One spans more than 548 acres in South Texas and is engineered for up to 500 MW of planned behind-the-meter power capacity, developed under the Company’s Project Atlas initiative.

Approximately 11 MW of that planned capacity has been secured to date, of which approximately 6 MW is activated. The balance of the campus’s planned capacity — including the capacity required to serve the full Initial Contracted Capacity under the Agreement and any expansion beyond it — is planned capacity that will require additional generation, equipment, permitting, financing, and customer commitments. The Company has not completed the site qualification work necessary to deliver the initial Contracted Capacity and has not established a Commencement Date.

Under Section 9.1 of the Agreement, the Company retains the right to deliver the contracted capacity at an alternative site of comparable size, capacity and energy rate, and the parties may relocate the facility by mutual written agreement.

Conditions, Approvals and Termination Rights

The Agreement is binding as of its effective date, but performance is subject to material conditions that investors should consider, including:

  • U.S. export control approvals. The Company’s hosting and power obligations are expressly conditioned on Power Champion obtaining all required U.S. government approvals, licenses, and clearances — including from the Bureau of Industry and Security — for the purchase, import, deployment, and operation of AI GPU processors at the facility under the U.S. Export Administration Regulations and other applicable regulatory frameworks. The Company has no obligation to proceed with construction, energization, or service commencement until Power Champion provides written evidence of those approvals. If any required approval is denied or revoked, either party may terminate without liability.
  • 180-day due diligence period. Power Champion may terminate during this period following the date of the Agreement only if a qualified third-party engineering assessment, obtained at its expense, concludes the facility cannot be made capable of delivering the Initial Contracted Capacity through commercially reasonable site qualification work.
  • Documentation still to be completed. A separate lease agreement, the customer build-out scope and budget, the detailed delivery milestone schedule, and the final deposit amounts remain subject to further written agreement between the parties.

Relationship to the Previously Announced GPU Pipeline

Power Champion is also the counterparty to the Company’s previously announced agreement covering the purchase of up to 512 NVIDIA HGX B300 systems, which the Company has characterized as estimated sales pipeline value and not as backlog, contracted amounts, orders, or revenue. The Agreement does not obligate Power Champion to deploy any of those systems at Atlas One, and the deployment location for any systems purchased has not been determined. The capacity contracted under the Agreement and the GPU sales pipeline measure different things and are not additive.

Management Commentary

“On August 27 we told the market we were in discussions with Power Champion about hosting at Atlas One, and that we would announce an agreement if we reached one,” said Chris Young, Chief Executive Officer and Chairman of AZIO AI. “This is that agreement. Atlas One has a contracted customer.”

“Power is the constraint on AI. This is what converting power into contracted capacity looks like — sites, systems, hosting, and the electricity underneath it, under one roof.”

“Ten megawatts is what Power Champion has contracted for today. Fifty megawatts is the ceiling the agreement allows them to grow into, and getting there depends on generation, permitting, capital and their own export approvals — none of which we take for granted. We would rather show shareholders exactly where the work stands than announce a number and explain it later.”

About AZIO AI Holdings, Inc.

AZIO AI Holdings, Inc. (Nasdaq: AZIO), 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 more information, please go to: www.azioai.ai and for potential global partnerships contact: Info@AiVenturesGP.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and applicable federal securities laws. Forward-looking statements may be identified by words such as “may,” “will,” “could,” “expect,” “anticipate,” “believe,” “estimate,” “project,” “intend,” “plan,” “continue,” “potential,” “ongoing,” or the negative of these terms, although not all forward-looking statements contain such words.

Forward-looking statements in this release include, without limitation, statements regarding: the parties’ respective performance under the ; the delivery of the Initial Contracted Capacity and any expansion to the Maximum Contracted Capacity; expected capacity reservation charges, energy revenue, contract value and the timing of any such amounts; the achievement of the Commencement Date and any delivery milestone under the Agreement; the development, construction, energization, and expansion of Atlas One and future Project Atlas phases; the scope, cost, and completion of site qualification work and customer build-out; the Company’s ability to secure additional generation, equipment, permitting, financing, and customer commitments for Atlas One; the relationship between the Agreement and the Company’s previously announced GPU sales pipeline with Power Champion; and the Company’s broader business strategy and long-term growth objectives.

These statements are based on current expectations and assumptions that involve risks and uncertainties that could cause actual results to differ materially, and most of the relevant factors are outside the Company’s control. Such factors include, but are not limited to: the risk that the Agreement is terminated during the due diligence period or otherwise; the risk that Power Champion does not obtain, or loses, required U.S. government export control approvals, including from the Bureau of Industry and Security, without which the Company has no obligation to proceed; the risk that expansion rights are never exercised and that contracted capacity never exceeds the Initial Contracted Capacity; the risk that the Company is unable to complete site qualification work on the anticipated timeline or at all; the Company’s ability to secure the additional generation, interconnection, equipment, permitting, financing, and capital required to deliver capacity at Atlas One; the risk that capacity is delivered at an alternative site or that the facility is relocated; the risk that the separate lease agreement, customer build-out budget, and delivery milestone schedule are not agreed on terms acceptable to the Company or at all; counterparty credit and performance risk; the Company’s limited operating history in AI infrastructure and compute operations; supply chain constraints and equipment availability; energy price and grid volatility; the risk that GPU systems covered by the Company’s sales pipeline with Power Champion are never ordered or deployed; changes in digital asset markets; evolving compute demand and market conditions; and the additional risks 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, available at www.sec.gov. The Company undertakes no obligation to update forward-looking statements as a result of new information, future events, or otherwise, except as required by law.

Capacity Reservation Charges

Capacity reservation figures described in this release represent contractual charges payable only on capacity actually delivered and made available. They are not backlog, bookings, contracted revenue, or a revenue forecast, and are presented before electricity sales and additional infrastructure services. As of the date of this release, no capacity has been energized under the Agreement, no Commencement Date has been established, and no revenue has been recognized in respect of the Agreement.

Non-Additive Measures

The capacity reservation figures described in this release relate solely to the Agreement and to Atlas One. They do not include, and are not a restatement of, amounts previously disclosed in connection with the separate July 9, 2026 power purchase and hosting agreement with Power Champion, which is a distinct agreement covering a different site. Readers should not aggregate the figures in this release with the estimated GPU sales pipeline value announced on August 27, 2026, or with other previously disclosed capacity figures, agreement values or committed amounts. These measures address different things at different stages and are not cumulative.

Contacts

Corporate Communications:
IBN.Ai
Austin, Texas
www.IBN.Ai
512.354.7000 Office
Editor@IBN.Ai



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