LIXTE Biotechnology Merges with NOMAD, Transforms into Energy Storage Firm NOMAD Power Solutions

LIXTE Biotechnology Holdings Inc. (NASDAQ: LIXT) announced the completion of its merger with NOMAD Transportable Power Systems Inc., making NOMAD a wholly owned subsidiary. The company issued 2,992,041 shares of common stock and 50,366.07 shares of newly authorized Series D preferred stock to NOMAD’s accredited stockholders. Effective July 3, 2026, the company changed its corporate name to NOMAD Power Solutions Inc. and will begin trading under the ticker symbol “NMAD” on July 6, 2026.

The merger transforms the business to focus on deployable utility-grade battery energy storage systems, positioning it to address growing demand driven by artificial intelligence, electrification, grid modernization, and industrial expansion. NOMAD will continue to operate under CEO John Travaglini, who noted that the business is engaged on more than 30 active utility, infrastructure, and strategic customer projects across North America. He expects public market access to support continued manufacturing expansion and growth.

This strategic pivot from biotechnology to energy storage represents a significant move into a critical sector for Texas and the broader U.S. economy. As the state leads in renewable energy generation, particularly wind and solar, the need for reliable energy storage solutions is paramount. Battery storage systems like those offered by NOMAD can stabilize the grid, store excess energy for peak demand, and support the integration of more renewable sources. For Texas businesses and residents, this could mean enhanced grid reliability and lower energy costs.

The implications extend beyond Texas. With AI data centers, electric vehicle charging infrastructure, and industrial electrification all placing unprecedented strain on the electrical grid, scalable energy storage is becoming essential. NOMAD’s deployable systems can be rapidly installed at utility sites, providing flexible capacity to meet these demands. The company’s existing customer projects across North America underscore the immediate market need.

For more details on the merger, view the full press release here. Information about NOMAD’s technology and projects is available through the company’s newsroom here. Additional background on NOMAD Power Solutions can be found at Liora Technologies.

The move highlights a trend of companies repositioning to capitalize on the energy transition. By entering the public markets with a focus on energy storage, NOMAD Power Solutions is poised to play a key role in modernizing the grid and supporting economic growth in Texas and beyond.