Azio AI (AZIO) entered into a power purchase and hosting agreement with Power Champion Investment for an initial 10 megawatts at its Atlas One campus in South Texas, with options to expand capacity to 50 MW, the company said Friday.

The initial deployment is expected to generate about $90 million in capacity reservation charges over the 60-month term, excluding electricity sales, the company said.

Potential capacity charges could reach $450 million if Power Champion fully exercises its expansion rights and the required infrastructure is completed. No expansion rights have been exercised, and no capacity has been energized under the agreement.

The deal is subject to infrastructure development and US export-control approvals. Atlas One has about 11 MW of planned capacity secured, of which roughly 6 MW is activated, the company added.

Azio AI shares were down nearly 1% in premarket activity.