LIXTE Biotechnology Holdings Inc. (NASDAQ: LIXT) announced that its acquisition of NOMAD Transportable Power Systems is expected to close on or about July 1, 2026, pending customary conditions and approvals. As part of the transaction, LIXTE will provide a $6.5 million loan to NOMAD to fund long-lead component procurement, working capital, and manufacturing scale-up against its growing order pipeline for deployable utility-grade battery energy storage systems.
Upon closing, the company plans to rename itself NOMAD Power Solutions, Inc. and adopt a new Nasdaq ticker symbol. NOMAD's mobile, utility-grade battery energy storage platform is designed for rapid deployment and reliable power for utilities, industrial users, and data centers. The move positions the company to capitalize on rising electricity demand driven by artificial intelligence infrastructure and high-density computing applications.
The acquisition marks a strategic pivot for LIXTE, which has historically been a clinical-stage pharmaceutical and med-tech company focused on cancer therapies. LIXTE's lead compound, LB-100, is a first-in-class clinical PP2A inhibitor being studied for Ovarian Clear Cell Carcinoma, Metastatic Colon Cancer, and Advanced Soft Tissue Sarcoma. Through its wholly owned subsidiary Liora Technologies Europe Ltd., LIXTE also develops electronically controlled proton therapy systems for cancer treatment.
The entry into the energy storage market through NOMAD is significant given the accelerating demand for reliable power solutions. Data centers, in particular, are facing pressure to secure backup power as AI workloads increase energy consumption. NOMAD's deployable battery systems offer a flexible alternative to traditional diesel generators, aligning with sustainability goals.
Investors can find more information about the acquisition at https://ibn.fm/s0uCh. Additional updates on LIXTE are available in the company's newsroom at https://ibn.fm/LIXT.
The transaction underscores the convergence of healthcare and energy technology, as LIXTE leverages its financial position to expand into a high-growth sector. With the $6.5 million loan, NOMAD can accelerate production to meet order demand, potentially generating revenue ahead of the acquisition close. The deal's completion in 2026 will mark a new chapter for LIXTE as NOMAD Power Solutions, focusing on the critical energy storage market.
