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Envirotech Vehicles (NASDAQ: EVTV) Closes Merger with Azio AI Ahead of Schedule, Positioning Combined Company to Capture $487 Billion 2026 AI Infrastructure Opportunity

Published

3 months ago

on

Texas, USA, July 7th, 2026, FinanceWire

Revised transaction structure enables immediate closing, accelerating the Company’s strategic pivot toward AI data centers, enterprise GPU compute, and digital power infrastructure.

Envirotech Vehicles, Inc. (NASDAQ: EVTV) (“EVTV” or the “Company”) today announced the successful completion of its merger with Azio AI Corporation (“Azio AI”) on July 2, 2026, paving the way for the Company to transform to an AI Datacenter Provider and meeting the growing market demand for artificial intelligence (“AI”) infrastructure, enterprise GPU compute, digital power solutions, data center development, and digital asset infrastructure; a market that the International Data Corporation (IDC) projects will reach $487 billion in global spending in 2026 and exceed $1 trillion by 2029.[1] The transaction marks a defining milestone in the Company’s strategic transformation and establishes the foundation for its next phase of commercial execution and long-term growth.

The parties amended the proposed transaction structure to expedite the closing timeline, allowing the combined company to begin operating as a fully integrated public company significantly sooner than originally anticipated. The accelerated closing enables management to immediately focus on commercialization across its expanding AI Datacenter strategy.

With the merger complete and the combined company operating as one organization, management is now fully focused on commercial execution, infrastructure deployment, strategic growth initiatives, and creating long-term shareholder value.

Over the past several months, the Company advanced development activities at its South Texas site and deployed six megawatts of off-grid power for its modular data centers. The Company further secured rights to a 548-acre site with the capacity to scale up to 500 MW, supporting the future development of AI hyperscale data centers.

Management believes these achievements demonstrate that the combined company is entering its next phase with meaningful operational momentum already in place rather than beginning from a standing start. Infrastructure deployment is underway, customer commitments have already been established, commercial execution is actively progressing, and the Company’s corporate structure is now aligned with an operating platform built to support long-term expansion.

The completion of the merger comes at a time when investment in AI infrastructure continues to accelerate globally as enterprises increasingly require access to high-performance computing resources, GPU infrastructure, and scalable digital power solutions. Management believes the combined company is well positioned to capitalize on these long-term industry trends through a diversified infrastructure strategy designed to monetize power assets across multiple complementary revenue streams, including AI data centers, enterprise compute infrastructure, power hosting, and digital asset mining operations.

Following the closing of the transaction, the Company intends to continue expanding its AI Infrastructure strategy through AI data center development, enterprise GPU compute solutions, power hosting services, digital asset mining operations, strategic infrastructure investments, and additional commercial partnerships designed to maximize utilization of its power resources while creating multiple long-term revenue opportunities.

In connection with the closing of the merger, Phillip Oldridge has stepped down as Chief Executive Officer. Jason Maddox vacates the President position and is now the Chief Financial Officer. The Company’s Board of Directors appointed Simon Yu as President and Chris Young as Chief Executive Officer, effective immediately.

Mr. Yu is a serial entrepreneur and public markets operator with almost a decade of experience taking companies public, executing capital raises, and scaling businesses. He has previously served in founder, C-suite, and board roles at three publicly traded companies, two of which reached market capitalizations in excess of $1 billion. Mr. Yu has led legal, accounting, and advisory teams through Regulation A+ Tier 2 offerings, PCAOB audits, and public company reporting, alongside leading M&A transactions. As an active early-stage venture investor, he has evaluated investment opportunities across artificial intelligence, SaaS, and B2B technology.

Mr. Young brings extensive experience in launching and leading public companies and investing in and advising emerging technology companies, with a particular focus on artificial intelligence, software innovation, and strategic growth initiatives. Prior to joining EVTV, he served as Chief Executive Officer of Clubhouse Media Group, a publicly traded social media company and an Entrepreneur in Residence at Amplify, where he worked alongside founders and venture-backed technology companies to accelerate commercialization and support the development of high-growth technology businesses.

“Today’s announcement represents far more than the completion of a merger—it marks the beginning of our next chapter,” said Chris Young, Chief Executive Officer of EVTV. “Over the past several months, our teams have been building the operational foundation of this business while simultaneously working toward completing this transaction. With the merger now finalized, we move forward as one company with one leadership team and one strategy, focused on executing against the opportunities in front of us. We believe demand for AI infrastructure, enterprise compute, and digital infrastructure will continue expanding for years to come. Our objective is to build a scalable platform capable of serving that demand while creating long-term value for our shareholders.”

Jason Maddox, Chief Financial Officer of EVTV, added, “Completing this transaction under the amended merger structure allows us to immediately focus on execution. We have already established meaningful operational momentum, and we believe operating as a unified public company enhances our ability to deploy infrastructure, serve customers, pursue strategic growth opportunities, and continue building long-term shareholder value.”

The transaction establishes a unified operating platform designed to support the Company’s long-term growth strategy through continued investment in AI infrastructure, enterprise computing, digital power assets, and digital infrastructure development. Management believes the completion of the merger provides the operational and organizational foundation necessary to pursue the next phase of commercialization while expanding its presence across some of the fastest-growing sectors of the global technology market.

Transaction and Operational Highlights

  • Successfully completed the merger with Azio AI pursuant to an amended and restated merger agreement.
  • Approximately six megawatts of off-grid digital infrastructure deployed at the Company’s South Texas development site.
  • Development footprint exceeding 548 acres with the potential to support up to 500 MW of AI infrastructure capacity.
  • Combined company positioned to accelerate commercialization across AI infrastructure, enterprise GPU compute, digital power solutions, and digital asset mining operations.
  • Merger consideration consisted of 2,655,157 shares of common stock and 973,450 shares of non-voting convertible preferred stock in exchange for 100% of outstanding capital stock of Azio AI, of which 194,807 shares of common stock were reserved for convertible notes of Azio AI assumed by the Company upon closing.
  • Each share of preferred stock convertible into 100 shares of Company common stock subject to stockholder approval.
  • Chris Young appointed Chief Executive Officer and Chairman of the Board.
  • Simon Yu appointed President.
  • Jason Maddox appointed Chief Financial Officer.
  • Phillip Oldridge stepped down as Chief Executive Officer.

About Envirotech Vehicles, Inc.

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 digital asset mining operations. Following its acquisition of Azio AI, the Company operates an integrated AI infrastructure business encompassing AI data center development, the sale and distribution of enterprise GPU systems and server infrastructure, high-performance computing solutions, power hosting, and strategic technology investments, serving enterprise and institutional customers across domestic and international markets. Through this diversified AI infrastructure strategy, the Company is positioned to capitalize on the rapidly expanding global demand for AI infrastructure, compute capacity, digital power, and next-generation AI technologies.

For more information please visit: www.azioai.ai and for potential partnerships contact: AI@PhoenixMGMTconsulting.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as “may,” “will,” “could,” “expect,” “anticipate,” “believe,” “estimate,” “project,” “intend,” “continue,” “potential,” “ongoing,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements include statements regarding the Company’s ability to capitalize on accelerating demand for AI infrastructure, enterprise GPU compute, digital power solutions, data center development, and digital asset infrastructure; the Company’s plans to continue expanding its digital infrastructure platform through AI data center development, enterprise GPU compute solutions, power hosting services, digital asset mining operations, strategic infrastructure investments, and additional commercial partnerships; the Company’s ability to maximize utilization of its power resources while creating multiple long-term revenue opportunities; the ability to continue deploying modular digital infrastructure at the Company’s South Texas site; the anticipated deployment and scaling of NVIDIA B200 and B300 GPU systems; the ability to advance and execute against the Company’s commercial infrastructure pipeline; the anticipated development of the Company’s footprint; the ability to monetize power assets across multiple complementary revenue streams, including AI data centers, enterprise compute infrastructure, power hosting, and digital asset mining operations; customer demand for AI infrastructure, enterprise compute, and digital infrastructure; the Company’s ability to build a scalable platform designed to serve that demand and create long-term shareholder value; 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. Most of these factors are outside the Company’s control and are difficult to predict. Factors that may affect actual results include, but are not limited to, the Company’s limited operating history within AI infrastructure and compute operations, project scope, engineering challenges, supply chain constraints, installation timelines, energy availability, finalization of site usage rights, regulatory considerations, equipment performance, ability to raise capital required for expansion activities, changes in digital asset markets, evolving compute demand, market conditions, the Company’s ability to successfully integrate the combined business following the completion of the merger, the risk that the anticipated benefits and synergies of the merger are not realized, the risk of unexpected costs, charges, or expenses resulting from or relating to the merger, potential adverse reactions or changes to business relationships resulting from the completion of the merger, risks related to the diversion of management’s attention from ongoing business operations during the post-closing integration period, the risk that required stockholder approval for the conversion of preferred stock issued in the merger as required by rules of The Nasdaq Stock Market LLC (the “Conversion Proposal”) is not obtained, and additional risks and uncertainties 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, which are available at www.sec.gov. The Company undertakes no obligation to update forward-looking statements except as required by law.

Important Information About the Merger and Where to Find it

The Company expects to file a proxy statement with the SEC relating to the Conversion Proposal. The definitive proxy statement will be sent to all Company stockholders. Before making any voting decision, investors and security-holders of the Company are urged to read the proxy statement and all other relevant documents filed or that will be filed with the SEC in connection with the Conversion Proposal as they become available because they will contain important information about the amended and restated merger agreement between the parties and the related transactions and the Conversion Proposal to be voted upon by the Company’s stockholders. Investors and security-holders will be able to obtain free copies of the proxy statement and all other relevant documents filed or that will be filed with the SEC by the Company through the website maintained by the SEC at www.sec.gov.

Participants in the Solicitation

The Company and its directors and executive officers may be considered participants in the solicitation of proxies from EVTV’s stockholders with respect to the Conversion Proposal under the rules of the SEC. Information about the directors and executive officers of EVTV is set forth in its Annual Report on Form 10-K for the year ended December 31, 2025, which was filed with the SEC on April 13, 2026, and in subsequent Quarterly Reports on Form 10-Q and other documents filed by the Company from time to time with the SEC. Additional information regarding the persons who may be deemed participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will also be included in the proxy statement, and other relevant materials to be filed with the SEC when they become available. You may obtain free copies of these documents as described above.

¹ Source: International Data Corporation (IDC), “AI Infrastructure Spending Caps Historic Year at ~$90 Billion in Q4 2025; 2029 Spending to Eclipse $1 Trillion,” April 16, 2026. The Company has not independently verified the data or projections contained in this report, and there can be no assurance that the projections will be realized.

Contact

Phoenix MGMT & Consulting
Press@PhoenixMGMTConsulting.com
888-228-0122

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Press Release

B2PRIME Welcomes Christina Barbash as Commercial Manager

Published

11 hours ago

on

October 8, 2026

By

Limassol, Cyprus, October 8th, 2026, FinanceWire

At B2PRIME, believes that building strong business relationships starts with investing in people who understand the market inside and out. That’s why we’re pleased to welcome Christina Barbash to the team as the new Commercial Manager. Her appointment is another step in an ongoing commitment to bringing experienced professionals on board in order to strengthen the product offering and client relationships.

Christina brings 13 years of experience in the financial markets to her new role, most of them spent in top management positions where she spearheaded sales, client relationships, business strategy development, executive planning, and more. Prior to joining us, she spent almost three years at PrimeXM, where she operated in the capacity of Chief Commercial Officer, taking on a broader role in the company’s development.

Before that, Christina served as Sales Director at FINKIT Solutions and also spent several years as a Business Development Manager at Point Nine, working in the regulatory reporting and fintech space. Her earlier career also includes more than four years at FXPRIMUS, where she progressed from business development to heading a regional office.

“I am very excited to be joining the B2PRIME team and starting this new chapter in my career. One thing I particularly value in this industry is the people behind the business — clients, partners, and colleagues who make every professional journey meaningful. Over the years, I’ve had the opportunity to learn from many talented people and build a lot of valuable relationships. I look forward to applying all that experience to this new role and helping the company create new connections!” stated Christina.

B2PRIME are confident that the versatile expertise Christina brings to the table will be a valuable addition as continue to grow the business. Her extensive background covering brokerage, fintech, and trading alike gives her a well-rounded understanding of the financial markets landscape and the relationships that drive it.

In her new position, Christina will bring fresh momentum to B2PRIME’s scaling efforts, helping us extend the reach further across the global financial landscape.

As the company continues its international growth, there will surely be more experienced industry professionals joining the team in the months to come. 

About B2PRIME:

B2PRIME Group is a global financial services provider for institutional, professional and retail clients. Regulated by reputable authorities—including CySEC, SFSA, FSCA, FSC Mauritius, SCB in The Bahamas, DFSA (Dubai) —the group of companies offer access to competitive liquidity across multiple asset classes. Committed to the highest compliance standards, B2PRIME provides institutional-grade trading solutions with a focus on reliability, transparency, and operational excellence.

Contact

B2PRIME Group
sales@b2prime.com

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Press Release

Scientology Volunteer Ministers Open First Sarajevo Exhibition with Sevdalinka Songs and Free Seminars

Published

13 hours ago

on

October 8, 2026

By

Scientology Volunteer Ministers brought their yellow tent of help to Sarajevo for the first time, opening a three-day public exhibition in the city center with traditional sevdalinka songs, a ribbon cutting and free seminars in practical techniques for everyday problems.

SARAJEVO, Bosnia and Herzegovina – 8 October 2026 – The Scientology Volunteer Ministers opened their first public exhibition in Sarajevo, bringing the program’s yellow tent of help to a central square of the Bosnian capital for three days of free seminars and demonstrations of practical techniques for dealing with the difficulties of everyday life.

Caption: The ribbon is cut to open the Scientology Volunteer Ministers exhibition in central Sarajevo. The banner reads “Nesto se ipak moze uciniti” – “Something can be done about it,” the motto of the Volunteer Ministers.

The grand opening was scheduled for 5:30 p.m. on the square. When rain and a sudden drop in temperature arrived, the Volunteer Ministers moved the ceremony inside the tent, where guests gathered among the exhibition’s panels for an evening of sevdalinka, the traditional urban folk song of Bosnia known for its emotional melodies and poetic lyrics of love, longing, and life. A local ensemble of singers in traditional Bosnian costume, accompanied on accordion, performed two sets of eight songs and an encore, closing with songs dedicated to Sarajevo and to Bosnia itself.

Caption: Guests at the grand opening listen to a short address inside the Volunteer Ministers tent after rain moved the ceremony indoors. The exhibition panels behind the speakers present practical tools on subjects such as stress, conditions in life and problems at work.

Caption: Singers in traditional Bosnian dress perform sevdalinka, the traditional urban folk music of Bosnia, for guests seated among the exhibition panels inside the Volunteer Ministers tent in Sarajevo.

Between the two sets, Juraj Duna, the Volunteer Minister in charge of the European Goodwill Tour, told guests how the Volunteer Ministers program began, how its volunteers assisted in Bosnia and Herzegovina after the floods of 2014 and what the yellow tent offers today. A Volunteer Minister who has supported the tour on previous visits to the region then cut the red ribbon together with two guests from the local community, and visitors were invited to tour the exhibition and take part in the hands-on demonstrations that followed.

“Sarajevo is a city with a long tradition of different communities living side by side, and the people here have shown us a warmth and openness that made this visit memorable,” Duna said. “The Volunteer Ministers came because the tour had never been to Sarajevo before, and because the tools in this tent are for anyone who wants to improve conditions in his own life and help the people around him. Something can be done about it, and that is the message we came to share.”

The exhibition presents 19 subjects drawn from the Scientology Handbook, each offering practical know-how for a common difficulty in life, from stress and conditions at work to study problems, communication, marriage, raising children and the causes of suppression. Visitors are introduced to simple tools intended to help them understand the roots of a difficulty and take a concrete step to improve it.

The most requested seminars in Sarajevo were those on assists, a set of simple techniques intended to help a person relax and ease discomfort by addressing the spiritual component of stress and tension. Attendees watched a short film, saw the technique demonstrated, received an assist themselves and then practiced delivering one to another person. By the close of the exhibition, 13 participants had reported that they were applying what they learned to help family members at home, and several asked for further training.

“What stood out in Sarajevo was how quickly people moved from watching to doing,” Duna said. “By the second day, visitors who had come in for a seminar were delivering assists to each other. That is exactly what the Volunteer Ministers program is for: putting workable tools in the hands of people who will use them.”

Following the exhibition, the tour delivered a lecture and workshop on “The Cause of Suppression,” one of the 19 subjects presented in the tent, for members of a local cultural association, and has been asked to repeat the lecture for a larger audience in the city.

The Volunteer Ministers European Goodwill Tour arrived in Bosnia and Herzegovina on 6 June 2026, spending five weeks in Mostar before moving to Sarajevo. The tour concludes its work in the country on 8 October 2026 and continues to other cities in the region.

Caption: Members of the Scientology Volunteer Ministers European Goodwill Tour team at the entrance to the yellow tent in Sarajevo, where they delivered free seminars in practical assistance techniques over three days.

The Scientology Volunteer Ministers program was created in the mid-1970s by Scientology Founder L. Ron Hubbard, who wrote that “a Volunteer Minister is a person who helps his fellow man on a volunteer basis by restoring purpose, truth and spiritual values to the lives of others.” Volunteer Ministers have responded to major disasters around the world for nearly five decades and, through traveling yellow-tent exhibitions and free online courses, bring the same tools to communities in times of peace. Their motto is “Something can be done about it.”

Media Contact

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Contact Person: Dave Bloomberg – Media Relations

Website: https://www.scientology.org/

Email:
mediarelations@churchofscientology.net

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Press Release

Oceanic Iron Ore CEO Chris Batalha Talks About The Demand for Green Steel

Published

13 hours ago

on

October 8, 2026

By

Our lead asset, Hopes Advance, produces 66.6% Fe iron ore, with 0.01% Al₂O₃ and 0.005% phosphorus – among the lowest impurity levels of any seaborne concentrate globally.

Canada, 8th Oct 2026 – Global Stocks News – Sponsored content disseminated on behalf of Oceanic Iron Ore. On October 7, 2026, Oceanic Iron Ore (TSXV: FEO) issued a message to shareholders entitled “The Demand for Green Steel”.

Oceanic is focused on the development of its 100% owned Hopes Advance, Morgan Lake and Roberts Lake iron ore projects located on the coast, in the Labrador Trough in Québec, Canada.

The flagship Hopes Advance Project has a NI 43-101 Measured & Indicated resource of about 1.36 billion tonnes at a head grade of 32.1% Fe. The project is located at tidewater. The PEA highlights that Oceanic will not require a railroad to get its iron ore to market, significantly reducing capital expenses and operating costs.

The Demand for Green Steel

Chris Batalha
CEO of Oceanic Iron Ore

The planet is heating up. The ten warmest years in recorded history have all occurred in the last decade. The International Science Council (ISC) warns that higher temperatures are causing an increase in hurricanes, droughts and tropical cyclones.

The production of steel is a major contributor to global warming. An astonishing one billion metric tonnes of metallurgical coal is consumed globally every year to manufacture steel. This accounts for 15% of coal burned globally across all industries. Steel and iron ore are responsible for 7-9% of the world’s CO2 emissions.

The United Nations Industrial Development Organization (UNIDO) has recommended that emissions from the iron and steel sector fall by more than 90% by 2050. To achieve this reduction target, global metallurgical infrastructure is currently being reimagined and rebuilt.

For decades, iron ore has been processed in traditional blast furnaces. These enormous chemical reactor towers transform iron ore into liquid metal (pig iron). The process requires extreme heat generated from burning metallurgical coke with hot air.

Blast furnaces are designed to run continuously 24/7 for 10 to 20 years. Shutting them down creates three major problems: the molten iron and slag inside the furnace can turn solid after time; cooling refractory linings can cause structural damage; reheating the blast furnace requires large amounts of energy, taking weeks – sometimes months – to achieve operational readiness.

Currently, about 70% of global steel is manufactured using these coal-fired blast furnaces. Gradually, production is being shifted to Direct Reduced Iron (DRI) plants that use Green Hydrogen to strip oxygen from the iron ore, releasing water vapour instead of CO2.

The benchmark grade of iron ore required for blast furnace product is 62% Fe. Impurities like phosphorus make the steel brittle. Removing other impurities such as silica, alumina and sulphur forces the steel mill to use more energy, pure oxygen and fluxing agents like limestone.

The greener DRI plants require high-grade iron ore with low impurities due to the electricity requirements to produce a molten slag during steel making. Our lead asset, Hopes Advance, produces 66.6% Fe iron ore, with 0.01% Al₂O₃ and 0.005% phosphorus – among the lowest impurity levels of any seaborne concentrate globally.

New environmental regulations are actively pushing Chinese steel mills toward higher-grade ores. The Chinese want processing facilities that will maximize output while minimizing the additional pollution created from removing impurities.

High-grade, low-impurity iron ore has been added to Canada’s and Québec’s Critical Minerals List. This premium product is in high demand from global steelmakers transitioning to green, hydrogen-based Direct Reduced Iron (DRI) processing.

Because the Hopes Advance iron ore is high-grade and has negligible alumina and phosphorus content, we have an opportunity to play an important role in servicing the green steel markets. It is a significant business advantage. Not all iron mines can contribute to the green steel input market.

There are still about 1,000 blast furnaces in operation. Many of these operations need high-grade material to blend with their lower-grade feed. Oceanic downstream iron ore buyers could be steel companies, iron ore producers, or trading houses.

In the next message, I will explain what we learned from the Hopes Advance Re-Scoped PEA.

By Chris Batalha
CEO of Oceanic Iron Ore

Click here to visit Oceanic Iron Ore’s website.

Contact: guy.bennett@globalstocksnews.com 

Disclaimer: Oceanic Iron Ore paid Global Stocks News (GSN) $1,200 for the dissemination of this content. 

Full Disclaimer: GSN researches and fact-checks diligently, but we cannot ensure our publications are free from error. Investing in publicly traded stocks is speculative and carries a high degree of risk. GSN publications may contain forward-looking statements such as “project,” “anticipate,” “expect,” which are based on reasonable expectations, but these statements are imperfect predictors of future events. When compensation has been paid to GSN, the amount and nature of the compensation will be disclosed clearly.

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The post Oceanic Iron Ore CEO Chris Batalha Talks About The Demand for Green Steel appeared first on King Newswire. This content is provided by a third-party source.. King Newswire makes no warranties or representations in connection with it. King Newswire is a press release distribution agency and does not endorse or verify the claims made in this release. If you have any complaints or copyright concerns related to this article, please contact the company listed in the ‘Media Contact’ section

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