Envirotech Vehicles (formerly ADOMANI)
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.
- Company typePublic
- Founded2012
- HeadquartersNewport Beach, United States
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
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.
Envirotech Vehicles (formerly ADOMANI) firmographics
Firmographics- 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
Envirotech Vehicles (formerly ADOMANI) industry classification
Industry- 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
Where Envirotech Vehicles (formerly ADOMANI) is headquartered
LocationHeadquarters
- HQ city
- Newport Beach
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Envirotech Vehicles (formerly ADOMANI) business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Personnel
Revenue model
- 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.
- 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.
- 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
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Custom fleet solutions with varying configurations for commercial operators |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
Envirotech Vehicles (formerly ADOMANI) product offering
Product offeringCore 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
Companies that use Envirotech Vehicles (formerly ADOMANI)
Customer profileNamed customers5 records
Segments5 records
Ideal customer profiles2 records
Envirotech Vehicles (formerly ADOMANI) technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability3 records
Feature4 records
Envirotech Vehicles (formerly ADOMANI) partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core, flagship and minor.
- AZIO AI Corp.coreOngoing 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 BaffettiflagshipLetter 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 ServicesminorLetter 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
Envirotech Vehicles (formerly ADOMANI) competitors and assessment
Company assessmentDirect 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
Envirotech Vehicles (formerly ADOMANI) social profiles
Digital presenceEnvirotech Vehicles (formerly ADOMANI) financial estimates
Financial estimateRevenue estimate
Valuation estimate
Envirotech Vehicles (formerly ADOMANI) leadership team
Management profileNumber of profiles
Profiles6 records
Envirotech Vehicles (formerly ADOMANI) funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Envirotech Vehicles (formerly ADOMANI) M&A and investment
M&A and investmentM&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)
What does Envirotech Vehicles (formerly ADOMANI) do?
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.
Is Envirotech Vehicles (formerly ADOMANI) a public or private company?
Envirotech Vehicles (formerly ADOMANI) is a public company. It is classified as public and is currently operating.
When was Envirotech Vehicles (formerly ADOMANI) founded?
Envirotech Vehicles (formerly ADOMANI) was founded in 2012. It employs 11 to 50 people.
Where is Envirotech Vehicles (formerly ADOMANI) based?
Envirotech Vehicles (formerly ADOMANI) is headquartered in Newport Beach, United States, in the North America region.
How does Envirotech Vehicles (formerly ADOMANI) make money?
Three revenue lines are on record. Electric Vehicle Sales and Drivetrain Systems are the primary driver. The others are compute Infrastructure Services and AI Infrastructure Platform.
Who are Envirotech Vehicles (formerly ADOMANI)'s main competitors?
Direct peers on record are Workhorse Group, Lightning eMotors, TeraWulf, Applied Digital, GreenPower Motor Company, Hut 8 and Iris Energy. Broad incumbents are Vantage Data Centers, XL Fleet (now Spruce Power) and NFI Group.
Does Envirotech Vehicles (formerly ADOMANI) have an API?
No public API is recorded for Envirotech Vehicles (formerly ADOMANI).
What industry is Envirotech Vehicles (formerly ADOMANI) in?
Envirotech Vehicles (formerly ADOMANI)'s product category is Commercial Electric Vehicles and AI Compute Infrastructure. Its primary akta.pro industry code is TLAKAMAK, EV Retrofit & Electrification Conversions (Fleet/Commercial), with a secondary code of TLAKAMAI, EV Power Electronics & Drivetrain Electrification Service (Inverters, DC-DC, eAxles). Its NAICS code is 33632 and its SIC code is 3600.