E-Power Inc. (NASDAQ: EPOW) announced that the Azusa, California City Council has authorized city staff to begin negotiations toward an Exclusive Negotiating Agreement with the company for a proposed heavy-duty electric vehicle charging station, according to a press release.

The proposed Azusa Mega Charging Station would be located on West Foothill Boulevard, adjacent to the I-210 and I-605 freight corridor. E-Power has indicated a potential investment of up to $26 million for the development, construction, ownership, and long-term operation of the facility, subject to due diligence and execution of definitive agreements.

The facility, as proposed, would include approximately 11.52 MW of total charger capacity served by a dedicated 6 MW utility interconnection from Azusa Light & Water, along with an approximately 20 MWh lithium iron phosphate battery energy storage system. The station would serve Class 4–8 medium- and heavy-duty zero-emission commercial vehicles. Target commercial operations are set for 2028.

The City's notice, dated June 24, 2026, and signed by City Manager Sergio Gonzalez, followed E-Power's submission of a non-binding Letter of Interest. The proposed ENA would provide a 180-day period for due diligence and negotiation of key business terms.

The project is being developed with Fenyx EPC, Inc. and would be held through a special purpose vehicle. Any investment remains subject to acceptable utility service and electricity pricing terms with Azusa Light & Water, as well as required corporate, regulatory, and governmental approvals.

"We believe that the City Council's authorization for exclusive negotiations is a meaningful step, and appreciate the opportunity to move forward with the City," said Haiping Hu, founder, CEO, and Chairman of E-Power Inc.

The company noted that the City Council's authorization does not constitute any binding commitment by either party, and there is no assurance that an ENA or any definitive agreement will be reached or that the project will proceed.