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DALLAS, Texas, October 8, 2026 — Algorhythm Holdings, Inc. (NASDAQ: RIME) has introduced Azure P2P™, a renewable power-generation process designed to convert low-value forest wood into around-the-clock electricity for data centers, utilities and industrial facilities. The announcement adds a technology milestone to the company’s ongoing restructuring, which is focused on reducing reliance on dilutive financing, improving access to capital and expanding profitable revenue.

Azure P2P™, short for pyrolysis-to-power, is central to Algorhythm’s recently acquired Azure Holdings business, operating as Azure Energy. The process uses renewable biomass to support dispatchable generation—power that can be produced when customers need it without depending on immediate wind or sunlight conditions.

The October 7 introduction follows a series of corporate actions that include terminating a financing arrangement expected to require millions of additional shares, retiring restrictive Series A preferred stock, expanding the executive team and adding an experienced technology executive to the board.

Alongside Algorhythm Holdings, Inc. (NASDAQ: RIME), other stocks featured include Lipocine Inc. (NASDAQ: LPCN), Lucas GC Limited (NASDAQ: LGCL), Toppoint Holdings Inc. (NYSE: TOPP) and Generation Income Properties, Inc. (NASDAQ: GIPR), offering a cross-sector watchlist spanning biopharmaceuticals, AI technology, transportation, renewable energy and real estate.

Azure P2P™ Targets Continuous Power for Data Centers and Industry

The central proposition behind Azure P2P™ is the ability to combine renewable fuel with continuous power generation. For data centers and advanced manufacturing facilities, electricity availability is an operating requirement, making reliability a key consideration alongside the source of that power.

Azure’s process is designed to use forest biomass as a fuel source that can be supplied and stored, allowing generation to operate independently of real-time weather conditions. Management believes this makes the technology particularly relevant to large-scale customers seeking dependable renewable electricity.

“Renewable power is increasingly important, but for large-scale power consumers, reliability is equally critical,” said Andrew Thompson, CEO of Algorhythm Holdings, in the October 7 announcement.

Thompson said Azure P2P™ is designed to meet both needs by providing renewable power from a fuel source capable of supporting continuous generation. Actual plant availability will depend on feedstock supply, maintenance and operating performance.

From Forest Residuals to Electricity, Biochar and Recovered Water

Azure P2P™ begins with lower-value material from working forests, including tops, limbs, thinnings and other low-grade wood, rather than higher-value sawlogs used to manufacture lumber.

The company describes five primary stages:

1. Feedstock preparation: Forest material is processed into wood chips and delivered to the plant.

2. Drying: Chips are brought to a controlled moisture level, with removed water captured as an additional resource.

3. Pyrolysis: Dried material enters a sealed, oxygen-free chamber, where heat breaks down the wood without burning it during this conversion stage.

4. Co-product formation: The process produces syngas, a fuel gas, and biochar, a solid carbon co-product.

5. Electricity generation: Syngas is combusted to raise steam, which drives turbines to generate power.

The process therefore combines electricity generation with the recovery of water and production of biochar. Algorhythm identifies captured water as a potential additional revenue stream, although its commercial contribution will depend on individual project conditions.

The announcement’s stated up to 99.9999% uptime is a company claim; the supplied release does not present operating data establishing that level of performance.

Creating Value From Underutilized Forest Materials

Azure’s approach seeks to create commercial demand for forest materials with limited traditional uses.

According to the company, removing thinnings and other low-grade material can support active forest management by giving remaining trees more room to grow and reducing material that can contribute to wildfire risk.

For Azure, this connects feedstock sourcing with its power-development model. Successful execution will require reliable biomass supply arrangements alongside project engineering, construction and ongoing plant operations.

The $23 Million Azure Acquisition Establishes the Growth Platform

Algorhythm completed its approximately $23 million acquisition of Azure Energy on September 15. The asset purchase consideration consisted of common stock and a new preferred-stock class, with voting rights and conversion into common shares subject to shareholder approval.

Azure develops renewable biomass power-generation infrastructure. Its reported engagements include Fortune 500 customers, AI data-center facilities and advanced manufacturing projects.

The company reported that Azure was generating positive EBITDA in 2026. It also attributed experience across 72 power-generation facilities representing 17.5 gigawatts of capacity to Azure’s team collectively. Those figures describe the team’s prior experience rather than generating assets owned by Algorhythm.

The Azure P2P™ introduction provides further detail on the technology underlying this newly acquired business and its proposed role in serving electricity-intensive customers.

More Than $10 Million in Contracted Revenue Supports Expansion Plans

In its September 22 shareholder update, Algorhythm reported that Azure had three customers representing more than $10 million in contracted high-margin fee revenue through the end of 2027.

That figure covers the contract period and represents expected fee revenue, rather than annual revenue or cash already collected.

Management also identified additional opportunities under negotiation, including two involving existing customers of Azure and its affiliates. These could contribute incremental revenue during 2027 if successfully contracted.

To expand its participation in larger projects, Azure intends to pursue partnerships with established construction and infrastructure firms. Azure would contribute engineering, project-development and technical expertise, while partners provide complementary construction capabilities and commercial bonding capacity.

Management believes these arrangements could expand Azure’s role in engineering, procurement and construction engagements while limiting the capital and bonding requirements it must assume independently.

SemiCab Targets Lower Losses and Near-Term Break-Even Operations

At SemiCab, Algorhythm’s AI-enabled logistics business, management is prioritizing lower operating losses, reduced general and administrative spending—particularly in India—and a greater emphasis on its software-as-a-service model.

The company intends to concentrate investment on activities with clearer paths to near-term, high-margin returns. It is also exploring partnerships and other structures designed to monetize SemiCab’s technology while limiting additional investment requirements.

Near-term break-even operations remain a target, rather than an achieved milestone announced in the shareholder update.

New Executive Team Supports Integration and Execution

On September 30, Algorhythm formally introduced Andrew Thompson as CEO, Ryan Smith as COO and Leticia Raele as chief accounting officer and interim CFO, with appointments effective September 15.

Thompson co-founded Azure Energy and brings corporate finance and energy-development experience. Ryan Smith’s background includes Azure project development, operational risk roles at Wells Fargo and military service. Raele previously served as Algorhythm’s controller and brings public-company accounting and audit experience.

IBM Veteran Greg Smith Adds Board-Level Operating Experience

On October 6, Algorhythm introduced Greg Smith as its newest independent director.

A 30-year IBM veteran, Smith managed multi-country organizations with responsibility for an annual budget of approximately $2 billion during the later years of his career. His experience includes business-process management, project execution and global supply-chain leadership.

Management expects Smith to support stronger accountability and client relationships across the portfolio. Thompson also highlighted his technology-industry experience as relevant to Azure’s pursuit of renewable power opportunities serving AI data-center infrastructure.

With Azure P2P™ now formally introduced, Algorhythm’s next milestones include execution against contracted revenue, additional project agreements, progress on financing costs and reduced SemiCab losses. The technology announcement adds substance to the company’s renewable power strategy, while future project and financial updates will help establish its commercial results.

Former executives Gary Atkinson and Alex Andre remain engaged as consultants to support continuity and knowledge transfer during the leadership transition.

About the Companies

Algorhythm Holdings, Inc. (NASDAQ: RIME) is a diversified holding company with two primary businesses: Azure Holdings, doing business as Azure Energy, and SemiCab Holdings. Azure develops renewable biomass power-generation infrastructure and provides engineering and fee-based consulting services under multi-year contracts. SemiCab operates an AI-enabled, cloud-based collaborative transportation platform designed to improve freight coordination and truck utilization.

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