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Envirotech Vehicles, Inc. (NASDAQ:EVTV) announced Monday that Melissa Barcellos has informed the company she will not stand for re-election to its Board of Directors after her current term ends at the 2025 Annual Meeting of Stockholders. The disclosure was made in a press release statement based on a recent SEC filing. The announcement comes as the micro-cap company, with a market capitalization of just $4.1 million, faces significant challenges with its stock trading near 52-week lows.
Barcellos has served as a director since March 2021. During her tenure, she has been a member of the Audit Committee and Compensation Committee, and currently chairs the Nominating and Corporate Governance Committee.
According to the company, Barcellos’s decision not to seek re-election was not due to any disagreement with Envirotech Vehicles . She will continue to serve as a director until the end of her term at the upcoming Annual Meeting.
Envirotech Vehicles is incorporated in Delaware and its common stock is listed on the NASDAQ Stock Market under the symbol EVTV. The company’s principal executive offices are located in Houston, Texas.
This information is based on a press release statement and details from a Form 8-K filing with the Securities and Exchange Commission.
In other recent news, Envirotech Vehicles, Inc. has entered the production and certification phase for its heavy capacity drones after securing deposits for 80 units. These orders, which came from Studio di Agronomia Baffetti in Italy and Venture Air Solutions in Florida, signify the company’s expansion into both European and U.S. markets. The deposits coincide with the European Union’s implementation of new regulations that support large-scale agricultural and industrial drone operations. Envirotech Vehicles also announced a Letter of Intent with the Italian firm Studio di Agronomia Baffetti to deploy drones in Tuscany by Spring 2026. This agreement marks the company’s first commercial drone market entry into Europe, focusing on drone-based spraying for vineyards and olive groves. The collaboration aims to address the unique challenges of Italy’s hillside terrains. These developments reflect Envirotech Vehicles’ strategic moves to broaden its market presence internationally.
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