-- New Corporate Identity Reflects Strategic Transition into AI Energy Infrastructure
Equipment & Services Sector Following Acquisition of NOMAD Transportable Power Systems --
BOCA RATON, Fla., July 06, 2026 (GLOBE NEWSWIRE) -- NOMAD Power Solutions, Inc. ("NOMAD" or the "Company"), today announced that it has completed its name change from LIXTE Biotechnology Holdings, Inc. (Nasdaq: LIXT) to NOMAD Power Solutions, Inc (Nasdaq: NMAD).
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.
The new corporate name reflects the next chapter for the Company in the AI energy infrastructure equipment and services sector, following the recent acquisition of NOMAD Transportable Power Systems, a pioneer in the meeting the rapidly growing power demands of AI and hyperscale data centers. Nomad introduced the first mobile, utility-grade truck-transportable battery energy storage system.
The company's innovative mobile products provide instantaneous power to an electrical grid or facility, bypassing months of construction typically required for traditional fixed installations. NOMAD's 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. The Company no longer plans to operate in its legacy life sciences market and is exploring options for a sale or merger of those assets.
"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."
About Nomad Power Systems
Founded in 2020, NOMAD, formerly LIXTE Biotechnology Holdings, is an AI energy infrastructure equipment and services platform 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.