LIXTE Biotechnology Acquires Mobile Energy Storage Provider NOMAD, Plans Rebrand to NOMAD Power Solutions
LIXTE Biotechnology Holdings acquires NOMAD Transportable Power Systems, pivoting to address growing power availability challenges driven by AI, electrification, and grid modernization, with NOMAD reporting 175% revenue growth in 2025.
LIXTE Biotechnology Holdings (NASDAQ: LIXT) has announced a definitive agreement to acquire 100% of NOMAD Transportable Power Systems, a provider of deployable, utility-grade battery energy storage systems. Following the close of the transaction, the company plans to rename itself NOMAD Power Solutions, signaling a strategic pivot from its clinical-stage pharmaceutical and med-tech roots to the energy storage sector.
The acquisition positions the combined entity to address what management describes as growing power availability challenges driven by artificial intelligence, electrification, manufacturing reshoring, and grid modernization. NOMAD has pioneered the mobile, utility-grade 1 MW battery energy storage system market and has established a customer base that includes utilities, cooperatives, municipalities, and large industrial users. The company reported approximately 175% year-over-year revenue growth in 2025 and projects an additional 135% increase in 2026.
According to the press release, NOMAD's transportable energy storage systems can be deployed rapidly while avoiding many of the permitting and interconnection delays associated with permanent battery installations. This creates a competitive advantage as demand for grid-scale power infrastructure accelerates across North America. The acquisition comes at a time when the energy storage market is experiencing significant growth, driven by the need for reliable and flexible power solutions.
LIXTE Biotechnology Holdings, Inc. is currently a clinical-stage pharmaceutical and med-tech company focused on new targets for cancer drug development. Its lead compound, LB-100, is a first-in-class clinical PP2A inhibitor that has shown potential to enhance chemotherapies and immunotherapies. Through its wholly owned subsidiary Liora Technologies Europe Ltd., the company also develops electronically controlled proton therapy systems for treating tumors. Additional information about LIXTE can be found at www.lixte.com.
The transaction marks a significant shift for LIXTE, which will now enter the energy storage market. The company highlighted that NOMAD's strong revenue growth trajectory and established customer base provide a solid foundation for future expansion. The rebranding to NOMAD Power Solutions reflects the new strategic direction, focusing on addressing critical infrastructure needs. For more details, the full press release is available at https://ibn.fm/hiRnl.
This acquisition underscores the increasing importance of energy storage in the broader context of grid modernization and the transition to cleaner energy sources. As AI and electrification drive power demand, mobile storage solutions offer a flexible alternative to traditional infrastructure, potentially speeding up deployment and reducing costs.