Washington Commits Another $2 Billion to Domestic Battery Supply

August 10, 2026 at 14:50 PM EDT

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BOCA RATON, Fla., Aug. 10, 2026 (GLOBE NEWSWIRE) -- Energy Metal News Commentary - On August 7, 2026, President Trump announced at a roundtable with mining executives that the administration had committed more than $2 billion to companies producing batteries and critical minerals, saying the aim was for such products to be “mined, refined and made right here in the USA.” The largest single piece is a $1.4 billion Defense Department loan to silicon battery developer Sila Nanotechnologies, alongside a $400 million loan to Sunrise Energy Metals for scandium production, a $150 million loan to Niron Magnetics for rare-earth-free magnets, and an $85.5 million equity investment in Strategic Bauxite. The government is to take priority purchasing rights over output from some of the projects. Companies mentioned in today's commentary include NOMAD Power Solutions, Inc. (Nasdaq: NMAD), American Battery Technology Company (Nasdaq: ABAT), Lithium Americas Corp. (NYSE: LAC), Amprius Technologies, Inc. (NYSE: AMPX), Sunrise Energy Metals Limited (OTC: SREMF).

It is worth being precise about what that money is, because the headlines have been looser than the substance. Three of the four commitments are loans and the fourth is an equity stake. None are grants. The agreements have not been finalized, and the projects involved could take years to reach production. The administration has said it has now completed roughly 160 minerals deals, which is the more telling number: this is not a single announcement but a sustained program.

The pattern behind it has been building for over a year. In October 2025 the Department of Energy restructured its multi-billion-dollar loan to Lithium Americas, and in exchange received a 5% equity stake in the company through warrants exercisable at $0.01 per share, plus a separate 5% economic stake in the Thacker Pass joint venture through equivalent warrants. The Pentagon's earlier intervention in MP Materials established the template of federal equity in a strategic supply chain. Washington is no longer subsidizing the battery industry at the margin. It is taking positions in it.

All that capital, however, is pointed at one end of the problem. Sila makes cells. Sunrise mines scandium. Niron makes magnets. Strategic Bauxite works upstream of aluminum. Every dollar is aimed upstream, at making the materials and the cells domestically rather than importing them from China. That is a real vulnerability, and it is being addressed.

It is not, however, the constraint that is stopping power from reaching the places that need it right now. A data center developer in 2026 does not fail because there are no domestic battery cells. It fails because the interconnection queue runs for years, the substation upgrade is not scheduled, and the utility cannot deliver firm capacity on the timeline the project requires. Manufacturing capacity and grid access are different bottlenecks, and only one of them is receiving $2 billion.

Which raises a narrower question than the one the funding announcements answer. If the cells get built domestically, who moves the stored power to the site that cannot wait for the grid?

Who Delivers Power When the Grid Cannot?

NOMAD Power Solutions, Inc. (Nasdaq: NMAD) sits at that end of the chain. The company develops utility-scale mobile energy storage: plug-and-play battery storage integrated into purpose-built, patent-pending mobile energy storage and docking systems, engineered to be truck-transportable and to deliver power to electrical grids and facilities on arrival. It reaches its markets through sales, rentals, and an Energy-as-a-Service model, targeting AI-driven use cases across utilities, industrial operations, government, and critical infrastructure.

The rental and service structure is the more interesting half. Grid-scale storage is normally a permanent capital asset tied to a site, a permit and an interconnection agreement. A mobile unit can be redeployed, which changes what it is useful for: bridging a substation upgrade, covering a seasonal peak, supporting a temporary load, or holding a position while permanent infrastructure is built. Nothing in the federal funding wave addresses that job.

July produced output rather than announcements.
On July 8 the company increased the energy capacity of its Voyager fleet by up to 56%, bringing its Eagle and Falcon units to 2.025 MWh, and unveiled the upgraded Voyager mobile storage series two days later. Capacity per unit is the central economic variable in mobile storage, since a unit must be worth the cost of moving it, and a step change of that size in one product cycle widens the range of jobs the fleet can take.

On July 15 the company strengthened its subsidiary executive leadership and appointed Huda Almashhadany as Chief of Product. On July 29 it announced the operational deployment of two mobile battery systems by DSO Electric Cooperative. That last item is the one that matters most at this stage: a rural electric cooperative putting units into operational service is a customer using the product in the field rather than a memorandum of understanding. The company has pointed to more than 30 active North American projects.

On the market-structure side, options trading on NOMAD began on the Cboe Options Exchange on July 31, following the company's addition to the Russell Microcap Index on June 26. Neither says anything about the product. Both determine whether institutional and sophisticated retail capital can engage with the name at all, and for a company one month into a new ticker, that is faster progress than most companies of this size manage in a year.

The corporate history behind the ticker.
NMAD, formerly LIXTE Biotechnology Holdings, Inc., historically focused on the development of innovative cancer therapies and medical technologies. Following the acquisition of NOMAD Transportable Power Systems, the Company rebranded as NOMAD Power Solutions, Inc. and expanded its operations and strategic focus into the energy infrastructure sector. Importantly, this strategic evolution does not represent a complete departure from the Company's biotechnology roots. The Company continues to maintain and advance its legacy oncology and medical technology assets while executing its primary strategic focus through NOMAD Power Solutions.

Trading under the LIXT ticker concluded on July 2, 2026, with the Company's shares beginning to trade under the NMAD ticker on July 6, 2026. As a result, historical financial data, share price performance, and legacy sector classifications associated with the ticker largely reflect the Company's historical biotechnology-focused operations and should be considered in that context. Certain screening tools still categorize the Company under its former primary sector.

Other companies to keep an eye on:

American Battery Technology Company (Nasdaq: ABAT)
ABAT is the clearest listed expression of the federal money now flowing into domestic battery materials. The company operates as an integrated critical mineral manufacturer across both primary lithium extraction and lithium-ion battery recycling, headquartered in Reno, Nevada.

In June 2026 it won its appeal with the Department of Energy for full reinstatement of a competitive grant supporting the $115 million first phase of a commercial-scale lithium refinery at its Tonopah Flats Lithium Project, with no change to funds awarded or to technical and commercial milestones and an updated project schedule adjusted for the review period. The project's pre-feasibility study, published in October 2025, established 2.73 million tonnes of proven and probable lithium reserves. Tonopah Flats has been designated a FAST-41 priority project by the National Energy Dominance Council and the federal permitting council. The company reported record quarterly revenue and its first positive gross margin in its third fiscal quarter of 2026.

The risks are equally clear. The company remains loss-making, analyst coverage is thin, the shares have traded through a wide range over the past year, and lithium pricing has moved sharply in both directions. Federal grant reinstatement resolves a funding question; it does not resolve permitting, construction or commodity risk.

Lithium Americas Corp. (NYSE: LAC)
Lithium Americas is the case study for how far federal involvement now goes. Under the October 2025 restructuring of its Department of Energy loan, the DOE received warrants for a 5% equity stake in the company and a separate 5% economic stake in the Thacker Pass joint venture, both exercisable at $0.01. The company drew its first $435 million on the loan in October 2025 and received a second advance of $432 million in February 2026 and agreed to contribute an additional $120 million to loan reserve accounts. General Motors holds a 38% asset-level interest in Thacker Pass, acquired for $625 million in cash and letters of credit, with Lithium Americas holding 62% and managing the project.

The company reported approximately $1.2 billion in total cash and restricted cash as of March 31, 2026, including $529 million at the joint venture level. It is a development-stage producer with no revenue, and it has been funding itself partly through at-the-market equity programs, which is dilutive by design. Lithium sentiment has improved from its lows but remains exposed to the return of sidelined supply.

Amprius Technologies, Inc. (NYSE: AMPX)
Amprius is the closest listed analogue to Sila Nanotechnologies, the private company that received the largest piece of the August 7 funding. Amprius produces ultra-high energy density lithium-ion batteries built on silicon nanowire anode technology, targeting aviation, electric vehicle and light electric vehicle applications, which is the same silicon-anode thesis the Defense Department has just backed with $1.4 billion.

The stock drew reiterated Buy ratings from both Oppenheimer and Roth MKM on August 6, 2026, with one analyst explicitly framing a recent pullback as an entry point. Amprius is not profitable and remains at the scaling stage, which carries the ordinary manufacturing, supply chain and capital risks of a battery producer that has not yet reached volume.

Sunrise Energy Metals Limited (OTC: SREMF) (ASX: SRL)
Sunrise Energy Metals is one of the four companies named in the August 7 announcement, and the only one of them with publicly traded shares accessible to US investors. On August 10, 2026, the Department of War's Office of Strategic Capital confirmed a $400 million conditional loan commitment to build out the company's scandium operations at the Syerston project in New South Wales, which Sunrise describes as the world's largest and highest-grade scandium deposit. Scandium is used to strengthen aluminum alloys in aerospace, defense and advanced manufacturing.

Shares closed up 16.07% at A$18.49 on August 10 following the announcement, having traded as much as 29% higher intraday. The revised project scope now includes downstream refining capacity in the United States alongside the mine and processing facilities, with capital costs estimated at A$450 million to A$475 million and initial output targeted at 60 tonnes of high-purity scandium oxide a year. The company has also begun preparations for a US exchange listing.

The commitment is conditional, a final investment decision is targeted for the second half of 2026, and first production is not expected until late 2028. Sunrise is a development-stage company with no production revenue, its primary listing is on the ASX with US access via the over-the-counter market, and it operates in a different commodity and a different part of the supply chain from the profiled company.

What Has to Go Right

The federal money is real, it is sustained, and it establishes that Washington now treats domestic battery supply chains as strategic infrastructure rather than an industrial policy preference. That is a genuine tailwind for the sector NOMAD operates in. It is also worth stating plainly that NOMAD is not a recipient of any of it, is not an applicant, and that none of this capital is directed at mobile energy storage.

The counterweight on the company itself is straightforward. NOMAD is early in its scale-up, entering a market that already includes large, well-capitalized incumbents with established manufacturing footprints and substantial order books. The Company expanded into this industry very recently, and its ability to execute the strategy, integrate and grow the energy infrastructure operations, and build customer relationships is unproven by definition. An asset-heavy rental model means growth consumes capital, and additional funding will be required. The shares have been volatile.

What the past two months produced is not scale. It is the precondition for scale: a materially larger product, a utility customer running units in the field, a named product executive, index membership, and a listed options market. Whether deployments compound from there is the only question that matters, and no amount of federal capital flowing into cell manufacturing will answer it either way.

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Sources

[1] Wall Street Journal, “Trump Administration to Award $2 Billion to Battery, Materials Companies,” August 7, 2026; Benzinga, “Trump Admin Commits $2 Billion to Cut China Reliance on Minerals,” August 2026.

[2] NOMAD Power Solutions, Inc. news releases dated July 8, July 10, July 15, July 29 and July 31, 2026, and Company disclosure regarding the LIXTE Biotechnology Holdings rebranding and ticker transition effective July 6, 2026. Company website: https://www.nomadpower.com/

[3] U.S. Department of War, Office of Strategic Capital, “Office of Strategic Capital Signs $400 Million Conditional Loan Commitment With Sunrise Energy Metals Limited,” August 10, 2026.

[4] American Battery Technology Company, Lithium Americas Corp., Amprius Technologies, Inc. and Sunrise Energy Metals Limited public disclosure and filings with the U.S. Securities and Exchange Commission, accessed August 10, 2026.

Energy Metal News | info@energymetalnews.com

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This article is being distributed for Market Equities Limited, a company incorporated under the laws of Ireland (“MEL”), which wholly owns and operates Energy Metal News. MEL has been paid a fee for NOMAD Power Solutions, Inc. advertising and digital media from Creative Direct Marketing Group (“CDMG”). MEL also expects to receive further compensation as part of an ongoing digital media effort to increase visibility for the company. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. No further notice will be given, but let this disclaimer serve as notice that all material, including this article, has been reviewed and approved on behalf of NOMAD Power Solutions, Inc. by CDMG.

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While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in this publication is not trustworthy unless verified by their own independent research. Because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may lose some or all of your investment.

Cautionary Note Regarding Government Funding and Policy References. References to United States government funding commitments, loans, grants, equity stakes, purchasing rights or policy initiatives describe announced arrangements involving the named third parties only. NOMAD Power Solutions, Inc. is not a recipient of, applicant for, or party to any of those commitments, and no eligibility for government funding of any kind should be inferred. Announced government commitments may not be finalized, may be modified or withdrawn, and the underlying projects may not proceed or may take years to reach production. References to any government official, administration, agency or policy are provided as market and policy context only and do not represent a political endorsement by the publisher.

Cautionary Note Regarding the Company's Strategic Transformation and Ticker Change. NOMAD Power Solutions, Inc., formerly LIXTE Biotechnology Holdings, Inc., historically focused on the development of innovative cancer therapies and medical technologies. Following the acquisition of NOMAD Transportable Power Systems, the Company rebranded and significantly expanded its strategic and operational focus into the energy infrastructure sector, which now represents the Company's primary strategic focus through NOMAD Power Solutions. The Company continues to maintain and advance its legacy oncology and medical technology assets. The LIXT ticker ceased trading on July 2, 2026, and the Company's shares commenced trading under NMAD on July 6, 2026. Accordingly, historical financial statements, historical share price data, and certain sector classifications associated with the security may primarily reflect the Company's historical biotechnology-focused operations and should be considered in that context when evaluating the Company's current business, prospects, and results. The Company's expansion into energy infrastructure introduces execution, integration, and sector-related risks, including the ability to successfully execute its business strategy, integrate and grow its energy infrastructure operations, compete effectively, and develop and maintain customer relationships. The Company continues to evaluate strategic opportunities with respect to its legacy oncology and medical technology assets, and there can be no assurance regarding the timing, structure, outcome, or value of any potential transaction involving those assets. Investors should carefully review the Company's filings with the U.S. Securities and Exchange Commission, including the risk factors contained therein, at www.sec.gov.

Cautionary Note Regarding Products, Deployments and Pipeline. Product specifications, energy capacity figures, patent-pending status, deployment counts and references to active projects are drawn from the Company's own public disclosure and have not been independently verified. Patent-pending status does not constitute an issued patent and there is no assurance any patent will be granted. References to a project pipeline describe the Company's stated activity and are not orders, contracts, backlog or revenue, and should not be relied upon as any forecast of future revenue. Addition to an index and the commencement of options trading are market-structure events that do not reflect the Company's operating performance, financial condition or prospects, and do not constitute an endorsement by any exchange, index provider or fund.

Cautionary Note Regarding Forward-Looking Statements. This publication may contain forward-looking statements, including statements regarding NOMAD Power Solutions, Inc.'s product development and capacity, deployment plans, customer pipeline, sales, rental and Energy-as-a-Service business models, target markets, capital requirements, and the disposition of legacy assets, as well as expected conditions in the battery, critical minerals and energy infrastructure sectors. Forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties, including technical, manufacturing, supply chain, commercial, competitive, regulatory, dilution, financing and market risks. The Company has limited operating history in its current industry, has reported operating losses, and will likely require additional capital. Actual results may differ materially from those projected.

Cautionary Note Regarding Referenced Companies. References to American Battery Technology Company, Lithium Americas Corp., Amprius Technologies, Inc. and Sunrise Energy Metals Limited are provided solely as market and sector context. Those companies are not peers, competitors, partners or financial comparables of NOMAD Power Solutions, Inc., and differ substantially in size, stage, capitalization, revenue, technology, operations and business model. Their results and share performance describe those companies only, are not indicative of NOMAD Power Solutions, Inc.'s prospects or results, and must not be relied upon in evaluating the profiled company. References to Sila Nanotechnologies, Niron Magnetics, Strategic Bauxite, MP Materials, General Motors and any other third party describe the stated arrangements of those parties only and involve no relationship of any kind with NOMAD Power Solutions, Inc. The battery, critical minerals and energy infrastructure sectors have been volatile. No partnership, affiliation or endorsement is implied.

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