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's completion, the company plans to rename itself NOMAD Power Solutions. Management said the acquisition positions the company to address growing power availability challenges driven by artificial intelligence, electrification, manufacturing reshoring and grid modernization.
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 marks a significant pivot for LIXTE, which has been a clinical-stage pharmaceutical and med-tech company focused on cancer drug development. Through its wholly owned subsidiary Liora Technologies Europe Ltd., the company has also been developing electronically controlled proton therapy systems. However, the acquisition of NOMAD signals a strategic shift into the energy sector, capitalizing on the urgent need for flexible power solutions.
According to the company, NOMAD's mobile storage units can be deployed in weeks rather than the years often required for permanent installations, making them ideal for supporting grid stability during peak demand, integrating renewable energy sources, and providing backup power for critical infrastructure. This agility is expected to be a key differentiator as utilities and industrial users seek to quickly address power shortfalls.
For investors, the transaction represents a transformation of LIXTE's business model from biotechnology to energy storage, which may come with different risk and growth profiles. The company's ability to execute on this pivot and capture the projected revenue growth will be closely watched. The full press release is available at https://ibn.fm/hiRnl.
Additional information about LIXTE Biotechnology Holdings is available at www.lixte.com, and about Liora Technologies at www.lioratechnologies.com.
