LIXTE Biotechnology Holdings Inc. (NASDAQ: LIXT) announced the completion of its previously disclosed merger with NOMAD Transportable Power Systems Inc., making NOMAD a wholly owned subsidiary. In connection with the transaction, 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. The company also changed its corporate name to NOMAD Power Solutions Inc., effective July 3, 2026, and will begin trading under the ticker symbol “NMAD” on July 6, 2026.
The merger transforms the company’s business to focus on deployable utility-grade battery energy storage systems. According to the announcement, this positions the company to address growing demand driven by artificial intelligence, electrification, grid modernization and industrial expansion. NOMAD will continue to operate under CEO John Travaglini, who stated that the business is engaged on more than 30 active utility, infrastructure and strategic customer projects across North America and expects public market access to support continued manufacturing expansion and growth.
For industry leaders, this shift underscores the increasing importance of energy storage infrastructure. As AI data centers, electric vehicle adoption, and industrial electrification strain existing grids, deployable battery systems offer a flexible solution to stabilize supply and manage peak demand. NOMAD’s focus on utility-grade systems could provide a critical bridge for utilities and large-scale energy users seeking to enhance reliability without long-term construction delays.
The original press release is available at https://nnw.fm/hKuCR. Additional information about NOMAD Power Solutions and LIXTE’s prior operations can be found in the company’s newsroom at https://nnw.fm/LIXT.
Prior to the merger, LIXTE Biotechnology was a clinical-stage pharmaceutical and med-tech company focused on cancer drug development. Its lead compound, LB-100, a PP2A inhibitor, had shown promise in enhancing chemotherapies and immunotherapies. Through its subsidiary Liora Technologies Europe Ltd., the company also pioneered electronically controlled proton therapy systems for treating tumors. With the completion of this merger, the company pivots entirely to the energy storage sector.
For investors and business leaders, the rebranding to NOMAD Power Solutions signals a strategic realignment toward a high-growth market. The demand for battery storage is expected to accelerate as renewable energy penetration increases and grid resilience becomes a priority. NOMAD’s existing project pipeline of over 30 active engagements suggests near-term revenue potential, while access to public markets may accelerate manufacturing scale-up.
This development highlights a broader trend of companies pivoting to address infrastructure bottlenecks created by technological shifts. As AI and electrification drive unprecedented energy demand, innovative storage solutions like NOMAD’s deployable systems could become essential components of modern power grids.
