LIXTE Biotechnology Holdings, Inc. has completed its merger with NOMAD Transportable Power Systems, Inc., a market leader in deployable, utility-grade battery energy storage systems (BESS), effective July 2, 2026. This transaction transforms LIXTE into an AI energy infrastructure equipment and services platform, addressing a multi-billion-dollar market. As part of the deal, LIXTE issued 2,992,041 shares of common stock and 50,366.07 shares of Series D preferred stock to NOMAD's accredited stockholders. The Series D preferred shares are convertible into 50,366,070 shares of common stock on a 1 for 1,000 basis following stockholder approval.

The company announced a corporate name change to NOMAD Power Solutions, Inc., effective July 3, 2026, with its trading symbol changing to "NMAD" on July 6, 2026. Geordan Pursglove, Chief Executive Officer of LIXTE, stated that the merger places the company at the center of long-term trends such as artificial intelligence, electrification, and grid modernization. He emphasized that the transaction establishes a foundation for a scalable infrastructure platform to support the massive power demands of the AI boom.

NOMAD operates as a wholly owned subsidiary under the leadership of CEO John Travaglini. The company is engaged in over 30 active utility, infrastructure, and strategic customer projects across North America. Travaglini noted that deployable BESS has become an essential layer of the modern grid, providing the capital and public-market visibility to scale manufacturing and deepen customer relationships.

NOMAD's patented platforms, deployed on semi-trailers, provide one megawatt of instantaneous power to an electrical grid or facility. These truck-transportable systems bypass months of construction typically required for traditional fixed installations. The products serve emerging AI-driven applications, utilities, industrial operators, government agencies, and critical infrastructure providers through equipment sales, rentals, and Energy-as-a-Service offerings.

LIXTE Biotechnology Holdings, Inc. will loan $6.5 million to NOMAD Transportable Power Systems, Inc. prior to the anticipated closing of their acquisition to fund order backlog and working capital needs. The transaction is expected to close on or about July 1, 2026, subject to customary closing conditions and required approvals. Upon closing, the combined entity will be renamed NOMAD Power Solutions, Inc. and will trade on the Nasdaq Stock Market under a new ticker symbol, positioning the firm to address power availability constraints driven by artificial intelligence, electrification, and grid modernization.

The loan proceeds are intended to fund the procurement of long-lead components against NOMAD's active order pipeline and to support working capital as NOMAD scales manufacturing to meet accelerating customer demand. Deploying capital ahead of closing is designed to ensure NOMAD can convert its growing backlog into delivered systems without interruption to its production cadence. "Putting capital to work now, ahead of closing, reflects our conviction in NOMAD's platform and attempting to fulfill the demand we are seeing," said Geordan Pursglove, chief executive of LIXTE Biotechnology Holdings, Inc.

NOMAD pioneered the deployable utility-grade battery energy storage systems (BESS) category and is the first company to bring a mobile, utility-grade 1 MW BESS to market. The platform meets performance, safety, and interconnection standards required by investor-owned utilities, electric cooperatives, municipal utilities, and large industrial energy users. The system features UL 9540 full-system validation and a multi-year track record of utility-scale deployment. The structural permitting advantage of NOMAD's mobile, transportable BESS architecture allows it to be deployed as equipment rather than permanent infrastructure, generally bypassing land use entitlements, environmental reviews, and interconnection queues.

NOMAD has delivered exceptional revenue growth driven by structural demand for deployable, utility-grade power infrastructure. Revenue grew approximately 175% year-over-year in 2025, with management projecting further growth of approximately 135% year-over-year in 2026. Approximately 75% of sales activity is inbound, and the company is engaged on more than 30 active utility, infrastructure, and strategic customer opportunities across North America. "The acceleration in demand from AI infrastructure and data center customers confirms that deployable, utility-grade storage is becoming an essential layer of the modern grid," said John Travaglini, chief executive of NOMAD.

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