LIXTE Biotechnology Holdings Inc. (NASDAQ: LIXT) announced a definitive agreement to acquire 100% of NOMAD Transportable Power Systems, a provider of deployable, utility-grade battery energy storage systems. Following the transaction, the company plans to rename itself NOMAD Power Solutions, marking a strategic pivot from clinical-stage biotechnology to the energy storage sector.
The acquisition positions the combined company to address growing power availability challenges driven by artificial intelligence, electrification, manufacturing reshoring and grid modernization, according to management. NOMAD 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. LIXTE said NOMAD’s transportable energy storage systems can be deployed rapidly while avoiding many of the permitting and interconnection delays associated with permanent battery installations, creating a competitive advantage as demand for grid-scale power infrastructure accelerates across North America.
The acquisition comes as power demand from AI data centers, electric vehicle charging, and re-shored manufacturing strains aging grids. NOMAD's mobile systems can be quickly dispatched to hotspots, offering utilities a flexible alternative to lengthy permanent construction. This agility is expected to be a key differentiator in a market where wait times for grid interconnection can stretch years.
LIXTE Biotechnology Holdings, Inc. is a clinical-stage pharmaceutical and med-tech company focused on new targets for cancer drug development and developing and commercializing cancer therapies. LIXTE has demonstrated that LB-100, its lead compound and first-in-class lead clinical PP2A inhibitor, is well-tolerated in cancer patients at doses associated with anti-cancer activity. Through its wholly owned subsidiary, Liora Technologies Europe Ltd., the company also pioneers electronically controlled proton therapy systems. Additional information can be found at www.lixte.com.
The transaction underscores a broader trend of biotech firms diversifying into high-growth sectors amid challenging capital markets for drug development. By acquiring a revenue-generating energy storage company with strong projected growth, LIXTE aims to create shareholder value while potentially funding its ongoing oncology research. The deal is expected to close in the coming months, subject to customary conditions.
