E-Power Inc. (NASDAQ: EPOW) announced that the City of Azusa, California, issued a written notice on June 24, 2026 authorizing city staff to negotiate an Exclusive Negotiating Agreement for a proposed electric‑vehicle charging and energy‑storage facility. The authorization follows E‑Power's submission of a non‑binding Letter of Interest earlier that month.
Under the notice, E‑Power may invest up to $26 million to develop, construct, own, and operate the site located on West Foothill Boulevard adjacent to the I‑210/I‑605 freight corridor. The project, slated for commercial operation in 2028, will be developed by Fenyx EPC, Inc. and will feature an integrated energy‑management system.
The facility is designed to serve Class 4–8 medium‑ and heavy‑duty zero‑emission commercial vehicles. It will provide approximately 11.52 MW of charger capacity, powered by a dedicated 6 MW, 12 kV utility interconnection from Azusa Light & Water. Energy storage will be supplied by a roughly 20 MWh lithium‑iron‑phosphate battery system, configured as four 5 MWh blocks with a bi‑directional power conversion system.
E‑Power and its partners intend to hold the project assets through a special‑purpose vehicle formed with Fenyx EPC and other strategic investors. The 180‑day negotiation and due‑diligence window will address utility service terms, electricity pricing, required permits, and definitive agreements. The city’s notice does not constitute a binding commitment; final investment remains contingent on successful negotiations and approvals.
If completed as planned, the Azusa site will add significant charging infrastructure for commercial fleets along a major freight corridor, supporting California’s broader zero‑emission vehicle goals.
