Developers of the modern-day landscape enjoy the luxury of having technology to facilitate the execution of initiatives that would not have been possible in past generations. As such, projects are coming in thick and fast with developers aiming to outdo each other and maximize on energy generation. One of the most important additions to the solar and wind energy landscape has been battery storage, which eliminates the intermittency issues faced by developers for multiple decades. On that note, LIXTE unveiled that it has moved into the utility-scale battery storage sector through the planned acquisition of NOMAD.
LIXTE displays the rewards of strategically planning energy-centered projects
LIXTE is an entity that is not new to the energy industry, as it has executed numerous projects over the years. LIXTE is a clinical-stage pharmaceutical and med-tech entity that is currently concerned with achieving new targets for cancer drug development as well as developing and commercializing cancer therapies.
In the most recent years, the company has received credit for its LB-100, a lead compound and first-in-class PP2A inhibitor, which is approved for cancer patients for its anti-cancer focus. LIXTE has also received coverage for pioneering the development of electronically controlled proton therapy systems for treating tumors in different types of cancers.
In another milestone not directly related to its cancer targets, LIXTE announced that it has reached an agreement to purchase 100% of NOMAD Transportable Power Systems Inc., which is a reputable leader in deployable, utility-grade battery energy storage (BESS). NOMAD is also the first ever company to bring mobile, utility-grade 1 MW BESS to market.
Assessing the overall objectives of the partnership between LIXTE and NOMAD
According to reports, after the agreement’s closing, the company is set to be renamed NOMAD Power Solutions, representing a new chapter. Solar and wind facilities are the main ones that have received criticism because they do not guarantee consistent energy generation, considering that there is no way to ensure sunlight or wind is available throughout the year.
Developers have spent many years attempting to overcome this challenge which they have finally managed to do courtesy of technological innovation. As the United States and countries around the world are focused on the Green Revolution and reducing the amount of carbon emissions, there is a focus on not just power generation but also power availability.
The main areas that are responsible for the most electricity demand are: artificial intelligence, data centers, manufacturing and grid modernization. An estimated amount of 2.2 terawatts of generation and storage capacity is currently available in the United States interconnection queues. There is also an ongoing trend of project timelines being increased from about two years to five years or longer.
Analyzing how NOMAD and LIXTE complement each other in the collaboration
One of the most important components of a partnership is the capability of companies to complement each other to guarantee success. The two entities in this instance are of a similar stature and so there are high expectations that the relationship will be fruitful. Geordan Pursglove who is the Chief Executive Officer of LIXTE, stated the following:
“This transaction creates one of the first publicly traded companies singularly focused on solving one of the most significant constraints facing economic growth today — access to reliable electrical power.”
Looking ahead: Could NOMAD and LIXTE create a blueprint for future partnerships?
NOMAD’s UL 9540 full system validation, a multi-year track record of utility-scale deployment and a growing customer base mean that it is the leading provider of deployable utility-grade battery power across North America.
Permanent BESS projects have faced lengthy timelines of two to five years caused by environmental review, fire and safety review, and the multi-year interconnection queue. However, the two partnering companies will be hoping to execute their projects without facing extensive challenges. The goal for LIXTE is to benefit from reliable energy availability.
Prince is a versatile writer focused on energy, automotive, environmental, and general news topics. He makes complex technical and policy issues clear, engaging, and accessible for a broad audience.
