Issued on behalf of NOMAD Power Solutions, Inc. (Nasdaq: NMAD), formerly LIXTE Biotechnology Holdings, Inc. (Nasdaq: LIXT)

NOMAD Power Solutions, Inc. has completed its corporate name change from LIXTE Biotechnology Holdings, Inc. and begins trading today under the new Nasdaq ticker NMAD, marking its transition into the AI energy infrastructure equipment and services sector following its acquisition of NOMAD Transportable Power Systems

American News Group News Commentary

BOCA RATON, Fla., July 6, 2026 /PRNewswire/ -- The artificial intelligence buildout has run headlong into a physical bottleneck: electricity. Data centers are demanding power faster than the grid can add it through traditional fixed infrastructure, and that gap is creating openings for companies that can deliver power on demand. Against that backdrop, the company formerly known as LIXTE Biotechnology Holdings, Inc. has completed its transformation into NOMAD Power Solutions, Inc. (Nasdaq: NMAD), a new corporate identity that reflects its move into the AI energy infrastructure equipment and services sector following its acquisition of NOMAD Transportable Power Systems.

Key Takeaways

• The company has completed its corporate name change from LIXTE Biotechnology Holdings, Inc. (Nasdaq: LIXT) to NOMAD Power Solutions, Inc. (Nasdaq: NMAD).
• Common stock begins trading today under the new ticker NMAD on the Nasdaq Stock Market; shares under the symbol LIXT ceased trading at the close of market on Thursday, July 2, 2026.
• The new corporate identity reflects the Company's transition into the AI energy infrastructure equipment and services sector, following its acquisition of NOMAD Transportable Power Systems.
• NOMAD introduced a mobile, utility-grade, truck-transportable battery energy storage system, providing instantaneous power to an electrical grid or facility and bypassing the months of construction typically required for traditional fixed installations.
• The Company is entering a sector populated by established public energy and storage names investors track, including Fluence Energy (Nasdaq: FLNC), GE Vernova (NYSE: GEV), Bloom Energy (NYSE: BE), and Stem, Inc. (NYSE: STEM), each distinct, far larger, and none a proxy for the Company.

A Biotechnology Company Reborn as a Power Company

The name change marks one of the more complete corporate reinventions in the public markets. Historically, LIXTE Biotechnology Holdings, Inc. focused on the development of innovative cancer therapies and medical technologies. Following its acquisition of NOMAD Transportable Power Systems, the Company has repositioned itself as an AI energy infrastructure equipment and services platform and adopted a new corporate name and ticker to match. The Company has framed the move as a strategic transition aimed at the power and infrastructure requirements of artificial intelligence, cloud computing, and hyperscale data center operators.

The Company's common stock will begin trading today under its new ticker, NMAD, on the Nasdaq Stock Market. Shares under the symbol LIXT ceased trading at the close of market on Thursday, July 2, 2026.

"Our new corporate name marks an important milestone in the Company's transformation, reflecting who we are today and where we are headed," said Geordan Pursglove, Chief Executive Officer. "We believe the broad AI energy sector offers significant, scalable growth opportunities and tangible long-term shareholder value, as we address a multi-billion dollar rapidly growing marketplace."

The Product: Power That Arrives on a Semi-Trailer

What NOMAD Transportable Power Systems brings to the Company is a physical product built for speed of deployment. NOMAD introduced a mobile, utility-grade, truck-transportable battery energy storage system. Its innovative mobile products provide instantaneous power to an electrical grid or facility, bypassing the months of construction typically required for traditional fixed installations.

The patented platforms are deployed on semi-trailers and serve emerging AI-driven applications, along with utilities, industrial operators, government agencies, and critical infrastructure providers, through equipment sales, rentals, and Energy-as-a-Service offerings. That model, delivering utility-grade storage that can be driven to a site and connected quickly, is what the Company argues sets it apart from the slower cadence of permanent installations.

Why Deployable Storage, and Why Now

The strategic logic rests on a mismatch that has become one of the central themes in energy markets: AI and hyperscale data center operators are driving power consumption at a rapidly growing pace, and existing grid infrastructure cannot always absorb that demand through traditional fixed assets alone. The Company's mobile products are designed to provide instantaneous power to a grid or facility, bypassing the months of construction typically required for fixed installations, precisely when data center operators want new capacity fastest.

Founded in 2020, NOMAD is focused on supporting the rapidly growing power and infrastructure requirements of artificial intelligence, cloud computing, and hyperscale data center operators. The Company is focused on capitalizing on the accelerating demand for reliable, scalable, and efficient energy infrastructure solutions driven by the global expansion of AI.

The Market the Company Is Chasing

The Company describes its opportunity as a multi-billion dollar, rapidly growing marketplace positioned at the intersection of the AI compute buildout and the demand for reliable, scalable, and efficient energy infrastructure. As NOMAD Power Solutions, the Company aims to capitalize on accelerating demand driven by the global expansion of AI. It is an ambitious repositioning, and the Company remains early in executing it.

The Public Companies Powering the AI Buildout

The Company is undergoing a corporate transformation and is not directly comparable to the established names below. These comparisons are for industry context only; each company pursues a different business model and operates at vastly greater scale, and none is a proxy for the Company or implies any partnership or comparable performance. The broader energy-for-AI theme has drawn heavy investor attention through 2026 as power availability has become a defining constraint on the AI industry.

Fluence Energy (Nasdaq: FLNC) is a global leader in grid-scale battery storage, pairing lithium-ion systems with AI-powered optimization software across dozens of markets. As one of the most visible pure-play battery energy storage integrators in the public markets, Fluence illustrates the scale of the grid-storage category that deployable systems operate within.

GE Vernova (NYSE: GEV) is an electric-power company spanning generation, grid equipment, and storage, and has become one of the most closely watched names tied to AI data-center power demand, with its equipment deployed at large-scale AI campuses. GE Vernova reflects the heavy-infrastructure end of the power buildout the AI boom is driving.

Bloom Energy (NYSE: BE) makes on-site fuel-cell power platforms that generate electricity at a facility, a bring-your-own-power approach increasingly used to supply data centers directly. Bloom offers a view of the on-site, deploy-where-needed segment of the market that shares NOMAD's emphasis on speed and location flexibility.

Stem, Inc. (NYSE: STEM), an energy-storage company built around AI-driven software and services, pairs storage hardware with an optimization platform and service model. Stem illustrates the storage-plus-software and Energy-as-a-Service approach that overlaps with parts of NOMAD's offering.

The Bottom Line

A completed name change is the start of a transformation, not the finish. NOMAD Power Solutions is a company in transition whose value now depends on building its AI energy infrastructure business, capitalizing on the demand its mobile products are designed to serve. But the thesis is timely and clear: the AI buildout has made fast, flexible, utility-grade power one of the most valuable things a company can deliver, and NOMAD is betting its truck-transportable storage sits exactly where that demand is most acute. For investors watching how the power bottleneck behind AI gets solved, the Company's pivot is a concrete data point, with the NMAD trading debut and its execution the markers worth watching from here.

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SOURCES

^[1] NOMAD Power Solutions, Inc., "LIXTE Completes Corporate Name Change to NOMAD Power Solutions, Inc.; To Begin Trading Under New Nasdaq Symbol NMAD" (news release, Boca Raton, Fla., July 6, 2026).
^[2] Fluence Energy, Inc. (Nasdaq: FLNC), corporate disclosures and market data, 2026.
^[3] GE Vernova Inc. (NYSE: GEV), corporate disclosures and market data, 2026.
^[4] Bloom Energy Corporation (NYSE: BE), corporate disclosures and market data, 2026.
^[5] Stem, Inc. (NYSE: STEM), corporate disclosures and market data, 2026.

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FORWARD-LOOKING STATEMENTS: This publication contains forward-looking statements, including statements regarding the Company's completed corporate name change to NOMAD Power Solutions, Inc. and ticker change to NMAD; the Company's strategic transition into an AI energy infrastructure equipment and services platform; anticipated growth from its acquired business, NOMAD Transportable Power Systems; the Company's products, market opportunity, and business prospects; and the anticipated disposition of the Company's legacy life sciences business. Forward-looking statements are based on current expectations and assumptions and are subject to known and unknown risks and uncertainties, many beyond the Company's control, including the ability to integrate and scale the acquired business and its operations; competition from larger and better-capitalized companies; capital requirements; the ability to dispose of the legacy life sciences business on acceptable terms; and other risks described in the Company's filings and reports with the U.S. Securities and Exchange Commission. Actual results could differ materially from those projected. Except as required by law, the Company undertakes no obligation to update any forward-looking statement. References to other companies are based on those companies' public disclosures, are provided for industry context only, and do not imply any partnership, endorsement, affiliation, or comparable performance.

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