Envirotech Vehicles (formerly ADOMANI)

What Envirotech Vehicles (formerly ADOMANI) does

Envirotech Vehicles, formerly ADOMANI, is a Nevada-incorporated public company (NASDAQ: EVTV) that historically sold zero-emission electric vehicles, electric drivetrain systems, and re-power conversion kits to medium and heavy-duty commercial fleet operators. The legacy product line included 100% battery electric trucks and vans, drivetrain integration systems for OEMs, and kits enabling conversion of combustion-powered vehicles to electric. Customers in this segment included the NYC Clean Trucks Program, SnowCap Community Charities, and law enforcement agencies, with go-to-market executed through direct sales and channel partnerships such as the LOI with ev Transportation Services for FireFly ESV distribution.

The company is in the midst of a strategic pivot from EV manufacturing to modular AI data center infrastructure, primarily executed through a proposed $480 million merger with AZIO AI Corp. The combined platform operates a liquid-immersion-cooled 40-foot container architecture deployed at a 548+ acre South Texas site powered by behind-the-meter natural gas generation from adjacent operational oil fields, enabling energy-independent operations outside the constraints of the traditional grid. Envirotech currently has approximately 6 MW of deployed digital infrastructure with a planned buildout of up to 500 MW, an NVIDIA GPU-based compute pipeline reportedly worth $108M (42% in binding deposits), and SHA-256 ASIC systems for Bitcoin mining workloads.

The revenue model is bifurcated: legacy hardware sales of electric vehicles and drivetrain systems, and emerging usage-based compute infrastructure services priced at $50,000-$100,000 per month per MW for cryptocurrency workloads and $100,000-$200,000 per month per MW for AI workloads. Envirotech pursues direct enterprise sales for both fleets and AI compute customers, supplemented by international channel partnerships, including a Letter of Intent with Studio di Agronomia Baffetti for heavy-lift agricultural drones in Italian vineyards targeting a $400 million addressable market. The company also operates under the ADOMANI brand, which is a registered trademark, and continues to maintain its Corona, California operational headquarters.

Name

Envirotech Vehicles (formerly ADOMANI)

Legal name

Envirotech Vehicles, Inc.

Website

https://adomanielectric.com

Company type

Public

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

Envirotech Vehicles (NASDAQ: EVTV) is a publicly traded company pivoting from zero-emission electric commercial vehicles and drivetrain systems to modular AI data center infrastructure, deploying liquid-immersion-cooled compute facilities powered by behind-the-meter natural gas in South Texas.

Ownership category

akta.pro rank

Product category

Commercial Electric Vehicles and AI Compute Infrastructure

NAICS

Motor Vehicle Electrical and Electronic Equipment Manufacturing (33632)

SIC

Electronic & Other Electrical Equipment (No Computer Equip) (3600), Services-Auto Rental & Leasing (No Drivers) (7510)

akta.pro primary industry

EV Retrofit & Electrification Conversions (Fleet/Commercial) (TLAKAMAK)

akta.pro secondary industry

EV Power Electronics & Drivetrain Electrification Service (Inverters, DC-DC, eAxles) (TLAKAMAI)

Keywords

• Commercial electric vehicles
• Zero emission drivetrains
• AI data center infrastructure
• Immersion cooled compute
• Fleet electrification solutions

Headquarters

HQ city

Newport Beach

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Personnel

Revenue model

1. Electric Vehicle Sales and Drivetrain Systems: Revenue from sale of new zero-emission electric vehicles and zero-emission electric drivetrain systems for medium to heavy-duty commercial fleet vehicles. Includes re-power conversion kits for replacing drivetrain systems in combustion-powered vehicles.
2. Compute Infrastructure Services: Revenue generated from compute infrastructure operations including cryptocurrency-based compute revenue and AI-driven compute services. Initial 1 MW site generating expected $50,000-$100,000 per month with Phase Two AI workloads projected at $100,000-$200,000 per month per megawatt.
3. AI Infrastructure Platform: Revenue from developing and operating AI-ready digital infrastructure with up to 500 MW planned power capacity. Currently operating approximately 6 MW of deployed digital infrastructure with secured dedicated fiber connectivity and natural gas interconnection capabilities.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Envirotech Vehicles (formerly ADOMANI) provides zero-emission electric vehicles and electric drivetrain systems for medium to heavy-duty commercial fleet operators, including re-power conversion kits for combustion vehicles. The company is pivoting into AI infrastructure, developing a modular liquid-immersion-cooled data center platform in South Texas powered by behind-the-meter natural gas, supporting enterprise AI, high-performance computing, and cryptocurrency compute workloads.

Product overview

Envirotech Vehicles (formerly ADOMANI) operates as a dual business entity with a legacy zero-emission electric vehicle portfolio and a new AI infrastructure platform. The original ADOMANI product line includes zero-emission electric vehicles (trucks and vans), electric drivetrain systems for medium to heavy-duty commercial fleets, and re-power conversion kits for converting combustion vehicles to electric power. The company is currently pivoting toward AI infrastructure, developing a modular AI data center platform utilizing liquid-immersion-cooled container technology powered by behind-the-meter natural gas, with NVIDIA GPU-based compute systems for enterprise AI workloads and high-performance computing applications.

Differentiator

Problem solved

Functional benefit

Products and services

• ADOMANI Zero Emission Electric Vehicles 100% battery electric trucks and vans for commercial fleet operators, focused on reducing total cost of vehicle ownership and meeting environmental regulatory compliance.
• ADOMANI Zero Emission Electric Drivetrain Systems Zero-emission electric drivetrain systems designed for integration into medium to heavy-duty commercial fleet vehicles, enabling fleet operators to convert to electric power.
• ADOMANI Re-Power Conversion Kits Conversion kits enabling replacement of drivetrain systems in combustion-powered vehicles to transition them to zero-emission electric power.
• AI Infrastructure Platform Large-scale AI-ready digital infrastructure platform with up to 500 MW of planned power capacity across 548+ acres of controlled land, utilizing behind-the-meter natural gas power from adjacent oil fields and operating approximately 6 MW of deployed digital infrastructure.
• Modular AI Data Center Infrastructure Liquid-immersion-cooled modular container infrastructure platform for high-density AI compute deployment, powered by behind-the-meter natural gas generation in South Texas.
• NVIDIA GPU-Based AI Compute Systems High-performance compute systems powered by NVIDIA GPUs for enterprise AI workloads, high-performance computing, and data center applications, with a $108M pipeline and 42% binding deposits secured.

Quantifiable outcome

• Maintenance cost savings of $2,000-$4,000/year in first year, $4,000-$6,000/year thereafter
• +3 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature4 records

Partnerships

Three partnerships are on record, tiered core, flagship and minor.

• AZIO AI Corp.coreStrategic or Co-development Partner · 16 December 2025Ongoing merger and development agreement where Envirotech Vehicles (EVTV) would acquire 100% of AZIO AI's shares in approximately $480 million transaction. AZIO AI is a modular AI infrastructure platform with NVIDIA GPU-based systems for enterprise AI workloads and high-performance computing. The South Texas deployment utilizes behind-the-meter natural gas power generation. Proposed transaction subject to due diligence, regulatory review, and shareholder approval.
• Studio di Agronomia BaffettiflagshipStrategic or Co-development Partner · 6 November 2025Letter of Intent to introduce heavy-lift agricultural drones into vineyard and olive grove operations in Tuscany, Italy. Partnership aims to replace tractor-based spraying with autonomous aerial systems to enhance efficiency, reduce chemicals, and meet European regulations. Project targets market of up to $400 million across Italy, with full operations projected to start in Spring 2026 pending certification.
• ev Transportation ServicesminorChannel Partner/ Reseller/ Distributor · 21 April 2020Letter of Intent to purchase, assemble and distribute ev Transportation Services' FireFly ESV(R) vehicle for commercial fleet operations.

Scale indicators8 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Workhorse Group: Workhorse designs and sells medium-duty commercial electric delivery vehicles for last-mile fleet operators in North America. Envirotech directly competes in commercial fleet EV trucks and vans with similar target customers.
• Lightning eMotors: Lightning eMotors provides zero-emission medium- and heavy-duty electric vehicles and powertrain solutions for commercial and government fleets. Envirotech competes head-to-head in commercial fleet EV and powertrain integration.
• TeraWulf: TeraWulf operates energy-efficient, behind-the-meter Bitcoin mining and AI compute data centers. Shares the energy-anchored compute model and hybrid crypto/AI strategy with Envirotech's South Texas deployment.
• Applied Digital: Applied Digital builds and operates large-scale data centers optimized for AI, HPC, and crypto compute workloads, including immersion-cooled facilities. Closest comparable to Envirotech's emerging AI infrastructure business.
• GreenPower Motor Company: GreenPower manufactures all-electric transit, school, shuttle, and delivery vehicles for government and commercial fleets. Overlaps with Envirotech's EV van, truck, and school bus fleet offerings.
• Hut 8: Hut 8 operates energy infrastructure-powered Bitcoin mining and AI compute services. Comparable hybrid compute operator with a similar pivot from crypto mining to AI/HPC services that Envirotech is attempting via AZIO AI.
• Iris Energy: Iris Energy operates renewable-powered data centers primarily for Bitcoin mining with an emerging AI/HPC compute pivot. Envirotech's South Texas compute site mirrors this hybrid crypto + AI compute model, but powered by behind-the-meter natural gas.

Broad incumbents

• Vantage Data Centers: Vantage is a large multi-region data center operator offering hyperscale and enterprise colocation. Represents the broader incumbent competitive set Envirotech's AI infrastructure must compete against for enterprise AI customers.
• XL Fleet (now Spruce Power): XL Fleet historically provided fleet electrification and hybrid drive solutions for commercial vehicles. Comparable as a former peer in commercial fleet EV conversion and drivetrain retrofitting.
• NFI Group: NFI Group is a major bus and coach manufacturer with a growing zero-emission bus portfolio serving transit and fleet customers. Comparable as an established incumbent in commercial zero-emission vehicles.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/AdomaniElectric
• Facebookfacebook.com/AdomaniElectric
• LinkedInlinkedin.com/company/adomani-inc
• Instagraminstagram.com/adomanielectric

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Envirotech Vehicles (formerly ADOMANI)