LIXTE Biotechnology Holdings, Inc. (NASDAQ: LIXT) has announced a definitive agreement to acquire 100% of NOMAD Transportable Power Systems, a company specializing in deployable, utility-grade battery energy storage systems. Following the completion of the transaction, the company plans to rename itself NOMAD Power Solutions, reflecting a strategic shift from its current focus on clinical-stage pharmaceutical and med-tech innovations.
Management stated that the acquisition positions LIXTE to address the increasing 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.
A key competitive advantage highlighted by LIXTE is that 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 capability is expected to be particularly valuable as demand for grid-scale power infrastructure accelerates across North America.
LIXTE Biotechnology Holdings, Inc. is currently a clinical-stage pharmaceutical and med-tech company focused on cancer drug development and commercialization. Its lead compound, LB-100, is a first-in-class PP2A inhibitor being evaluated in proof-of-concept clinical trials for Ovarian Clear Cell Carcinoma, Metastatic Colon Cancer, and Advanced Soft Tissue Sarcoma. Through its wholly owned subsidiary, Liora Technologies Europe Ltd., the company is also developing electronically controlled proton therapy systems for treating tumors.
The acquisition of NOMAD represents a significant diversification away from LIXTE’s core biotechnology operations. The combined entity will operate under the NOMAD Power Solutions name, emphasizing its commitment to the energy storage sector. The move comes as the energy industry faces unprecedented pressure to modernize infrastructure and integrate renewable energy sources, creating a growing market for flexible, mobile storage solutions.
For investors, the announcement signals a major strategic pivot and potential for revenue growth in a high-demand industry. The company’s newsroom provides updates on LIXTE and its subsidiaries at https://ibn.fm/LIXT. Additional information about NOMAD’s technology and market position can be found in the full press release at https://ibn.fm/hiRnl.
The transaction is subject to customary closing conditions and is expected to close in the coming months. Upon completion, the company will aim to leverage NOMAD’s existing customer relationships and revenue momentum to capture a larger share of the growing energy storage market.
