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AZIO AI Executes Definitive Merger Agreement with Envirotech Vehicles, Inc. (NASDAQ: EVTV) at $750 Million Valuation Supported by Independent Third-Party Fairness Opinion
AZIO AI Corp. ("AZIO AI" or the "Company"), a developer of next-generation artificial intelligence infrastructure and power-integrated data center solutions, today announced the execution of a definitive merger agreement with EVTV as part of EVTV's strategic transformation into an artificial intelligence infrastructure and compute platform focused on domestic AI deployment, data center operations, and long-term compute capacity expansion.
About this update from Envirotech Vehicles, Inc.
[{"type":"text","content":"Transaction Structured at 100 Million EVTV Shares Reflects Significant Growth Since Original $480 Million LOI, Following Six Months of Operational Collaboration, Customer Deposits, and Initial Hardware Deliveries","length":212,"tagName":"p","attribs":{}},{"type":"text","content":"NEWPORT BEACH, Calif., May 20, 2026 /PRNewswire/ -- AZIO AI Corp. ("AZIO AI" or the "Company"), a developer of next-generation artificial intelligence infrastructure and power-integrated data center solutions, today announced the execution of a definitive merger agreement with EVTV as part of EVTV's strategic transformation into an artificial intelligence infrastructure and compute platform focused on domestic AI deployment, data center operations, and long-term compute capacity expansion.","length":523,"tagName":"p"},{"type":"image","alt":"Azio AI (PRNewsfoto/Azio AI Corporation)","displaySize":"","headline":null,"caption":"Azio AI (PRNewsfoto/Azio AI Corporation)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":400,"url":"https://media.zenfs.com/en/prnewswire.com/9e7242e3bb24c6150e3e25a0a6964395"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/vuA28yWS8N9FE4t09Aw6cA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTcwNQ--/https://media.zenfs.com/en/prnewswire.com/9e7242e3bb24c6150e3e25a0a6964395","width":400,"height":400},"resize_sm":{"url":"https://s.yimg.com/ny/api/res/1.2/iwZkksuGuRS_r0kwLNAyPQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTY0MDtoPTY0MA--/https://media.zenfs.com/en/prnewswire.com/9e7242e3bb24c6150e3e25a0a6964395","width":400,"height":400}},"href":"https://mma.prnewswire.com/media/2841989/AZIO_AI_New_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The execution of the definitive merger agreement follows approximately six months of operational collaboration, infrastructure deployment activities, technical integration efforts, and transaction development work between the parties, during which both organizations continued advancing AI infrastructure operations designed to support growing domestic demand for compute capacity and power availability across the United States.","length":429,"tagName":"p"},{"type":"text","content":"The transaction represents a significant strategic transformation for EVTV as the Company positions itself within one of the fastest-growing segments...