AZIO AI Holdings, Inc. (Nasdaq: AZIO) announced on Oct. 9, 2026, that it has entered into a Power Purchase Agreement and hosting agreement with Power Champion Investment Limited covering power delivery, leased facility space, and interconnectivity services at Atlas One, the company's South Texas compute infrastructure campus.

Agreement Covers Power, Space, and Interconnectivity at South Texas Campus

The Agreement establishes an initial contracted capacity of 10 megawatts (MW), with contractual expansion rights up to a maximum contracted capacity of 50 MW, subject to completion of required infrastructure improvements and other conditions.

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

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.

The Company noted that the Agreement does not amend, replace, or supersede the power purchase and hosting agreement with Power Champion announced on July 9, 2026, and that the terms described in this release relate solely to the Agreement and to Atlas One.

Key Commercial Terms

The Agreement sets an initial contracted capacity of 10 MW, with Power Champion holding the right to request increases up to the 50 MW maximum, 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.

Power Champion will pay a capacity reservation charge of USD 150.00 per kilowatt (kW) per month of contracted capacity actually delivered and made available and is not obligated to pay reservation charges on capacity that has not been energized.

Energy will be priced at a fixed rate of USD 0.13 per kilowatt-hour for metered consumption during the Initial Term, 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.

The Initial Term is sixty months from the date on which AZIO AI 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.

Capacity will be energized in phases, with achievement of Phase 1, delivery of at least the 10 MW Initial Contracted Capacity, establishing the Commencement Date.

On 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.

The Agreement includes a 99.9% annualized power availability commitment, subject to customary exclusions, with service credits as the exclusive remedy.

Contract Economics and the USD 450 Million Figure

At the Initial Contracted Capacity, AZIO AI 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.

The approximately USD 450 million figure referenced in the release's headline 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 the release, the parties have committed only to the Initial Contracted Capacity, no capacity has been energized under the Agreement, and no expansion right has been exercised.

The Company stated that capacity reservation charges are payable only on capacity actually delivered and made available, and that 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 Capacity Position

Atlas One, announced on Aug. 20, 2026, 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.

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