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.
Corporate Transformation Complete
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. The name change is one of the more complete corporate reinventions in the public markets, as LIXTE historically focused on developing 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.
New Ticker and Trading Details
The Company's common stock began 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. The new corporate identity reflects the Company's transition into the AI energy infrastructure equipment and services sector.
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. This innovation addresses the growing demand for electricity driven by the AI buildout, as data centers require power faster than the grid can add it through traditional fixed infrastructure.
CEO Statement on Strategic Shift
“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.”
Market Position and Competitors
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. NOMAD Power Solutions aims to carve out a niche in the AI energy infrastructure space with its mobile power solutions.
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. NOMAD's mobile battery energy storage system is designed to address this gap by providing instantaneous, utility-grade power without the lengthy construction timelines of fixed installations.
