NOMAD Power Solutions, Inc. Receives DOE Authorization to Advance Vermont Long-Duration Energy Storage Project into Phase 3
Rhea-AI Summary
NOMAD Power Solutions (Nasdaq: NMAD), via its subsidiary NOMAD Transportable Power Systems, received authorization from the U.S. Department of Energy Office of Electricity to advance into Phase 3 of the Vermont Long Duration Energy Storage Demonstration Project, moving into installation, integration and construction.
The approximately $19 million project is expected to deploy up to eight transportable battery energy storage system (BESS) units across five sites in Green Mountain Power’s Vermont service territory. The project includes a $9.5 million DOE award and an approximately 50% non-federal cost share, with reimbursements tied to cooperative agreement milestones. Phase 3 will use NOMAD’s latest platform featuring next-generation lithium iron phosphate batteries and microgrid-enabled controls to demonstrate flexible, transportable long-duration storage for grid reliability and resilience in rural communities.
Positive
- DOE Phase 3 authorization for Vermont long-duration storage project, moving into installation and construction
- Project value about $19 million with up to eight BESS units across five Vermont sites
- $9.5 million DOE award supporting the project with approximately 50% non-federal cost share
- Green Mountain Power operational use provides real-world commercial reference for NOMAD’s transportable BESS platform
- Next-generation LFP batteries and microgrid controls deployed in Phase 3 platform
Negative
- Approximately 50% non-federal cost share requires significant counterpart funding alongside the DOE award
- DOE reimbursements are subject to cooperative agreement terms and milestones, adding execution dependency
News Explained
Separate from the authorized Phase 3 buildout, Green Mountain Power has already used an existing NOMAD system for peak management and to keep commercial customers powered during planned maintenance, showing current operational use rather than only a future installation.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Aug 19 | Certification and deployment | Positive | +2.1% | UL 9540 certification for 1 MW / 2 MWh Traveler system and commercial deployment |
| Aug 14 | Quarterly filing | Negative | +0.0% | Reported zero revenue, higher losses, financing, and going-concern disclosure in Q2 filing |
| Jul 31 | Options listing | Positive | +7.4% | Cboe options trading began for common stock under NMAD symbol |
| Jul 29 | Operational deployment | Positive | -9.3% | Two Traveler systems entered seasonal operation after peak-shaving pilot savings projection |
| Jul 15 | Leadership appointments | Positive | +1.9% | Appointed product and operations executives to support BESS commercialization across North America |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Three positive announcements aligned with gains, while one operational announcement diverged and the Q2 filing had no recorded move.
Key Terms
battery energy storage system technical
bess technical
lithium iron phosphate batteries technical
cooperative agreement regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
Installation phase will deploy NOMAD’s transportable battery energy storage technology at sites within Green Mountain Power’s service territory
BOCA RATON, Fla., Aug. 26, 2026 (GLOBE NEWSWIRE) -- NOMAD Power Solutions, Inc. (Nasdaq: NMAD), through its wholly-owned subsidiary NOMAD Transportable Power Systems, Inc. (NOMAD), today announced that the U.S. Department of Energy (DOE) Office of Electricity has authorized the company to advance into Phase 3 of the Vermont Long Duration Energy Storage Demonstration Project.
This approximately
The project’s advancement follows GMP’s operational use of an existing NOMAD system for peak management and to maintain service to customers during planned utility maintenance. NOMAD believes these applications demonstrate the platform’s ability to support multiple utility requirements using a transportable energy storage asset.
Project and Commercial Highlights:
- DOE project advancement: Authorization to proceed into Phase 3 moves the Vermont project into installation, integration and construction.
- Operational utility applications: GMP has used an existing NOMAD system for peak management and to maintain customer service during planned maintenance.
- Flexible asset deployment: NOMAD’s patented platform is designed to be moved among locations and used for peak management, emergency response, maintenance support, renewable energy integration and other grid-resilience applications.
- Cost-shared project support: The approximately
$19 million project is supported by a$9.5 million DOE award and an approximately50% non-federal cost share, with future reimbursements subject to the terms and milestones of the cooperative agreement.
“Advancing into Phase 3 marks another important milestone for NOMAD and reflects our team’s progress against the technical and performance requirements established under the DOE award," said Geordan Pursglove, CEO of NOMAD Power Solutions. “Green Mountain Power’s operational use of our technology also demonstrates how a transportable energy storage system can support multiple utility needs. We believe mobility can enable utilities to deploy storage where and when it is needed, improving flexibility and potentially increasing asset utilization.”
Unlike conventional stationary battery installations, which are generally designed for a specific location and application, NOMAD’s patented transportable platform is engineered to be redeployed as operational requirements change. A single system can potentially support seasonal peak management, planned maintenance, emergency response, renewable energy integration, infrastructure upgrades and critical-facility resilience at multiple locations over its operating life.
Phase 3 of the Vermont project will incorporate NOMAD’s latest platform, including next-generation lithium iron phosphate batteries and microgrid-enabled controls. The project is intended to demonstrate how transportable, long-duration energy storage can provide a flexible and cost-effective resource for improving grid reliability and resilience in rural communities.
GMP has used its existing NOMAD unit for peak management and to maintain power to commercial customers during planned utility maintenance, helping businesses continue operating while grid work was completed. NOMAD believes these real-world applications illustrate the operating flexibility that transportable utility-scale storage can bring to utilities and provide a valuable commercial reference as the company engages additional utility and industrial customers.
"Mobility expands the range of applications that utilities can address with an energy storage asset," said Chris McKay, Chief Operating Officer of NOMAD. "Reaching Phase 3 under the DOE award is an important project milestone, while Green Mountain Power's experience demonstrates the platform’s practical operating flexibility. We believe transportable storage can become an increasingly valuable tool as utilities respond to evolving grid requirements."
With authorization to proceed into Phase 3, NOMAD will continue work under DOE award DE-OE0000952 in accordance with the project's Statement of Project Objectives. The milestone advances NOMAD's efforts to demonstrate transportable battery energy storage as a flexible and potentially capital-efficient resource for utilities and other critical power users while supporting the company's broader commercialization strategy across North America.
About NOMAD Transportable Power Systems, Inc.
NOMAD Transportable Power Systems, Inc., a wholly-owned subsidiary of NOMAD Power Solutions (Nasdaq: NMAD), designs and manufactures patented transportable Battery Energy Storage Systems (BESS) that bring utility-scale energy storage to the locations where power is needed. NOMAD's mobile platforms are designed to serve utilities, data centers, industrial customers, municipalities, and critical infrastructure applications, providing a flexible approach to peak management, resilience, planned maintenance, electrification, and other power needs. Headquartered in Waterbury, Vermont, NOMAD is advancing a new model for deploying utility-scale energy storage across North America.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical fact, including statements regarding NOMAD's beliefs, expectations, plans, and intentions relating to the potential benefits, applications, utilization, market opportunity, and future development of its transportable battery energy storage systems, the anticipated timing, funding, and outcome of activities under DOE award DE-OE0000952, the company's ability to access remaining amounts under that cooperative agreement, and Green Mountain Power's continued use and evaluation of NOMAD's technology, are forward-looking statements. These statements are often identified by words such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “may,” “will,” “plan,” “potential,” and similar expressions. Forward-looking statements are subject to risks and uncertainties, many of which are beyond NOMAD's control, that could cause actual results to differ materially from those expressed or implied, including risks related to the timing, amount, and outcome of future DOE milestone, performance, and funding decisions, including that not all remaining funds under the cooperative agreement are guaranteed to be disbursed; NOMAD's ability to perform under the DOE award; market acceptance and adoption of transportable energy storage technology; customer purchasing and deployment decisions; competition; supply chain and manufacturing execution; and other risks described in NOMAD Power Solutions' filings with the U.S. Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. You should not place undue reliance on forward-looking statements, which speak only as of the date of this release. NOMAD Power Solutions undertakes no obligation to update or revise any forward-looking statements, except as required by applicable law.
Investor and Media Contact:
PondelWilkinson pwinvestor@pondel.com
Todd Kehrli: (310) 279-5961; tkehrli@pondel.com
Michael Wichman: (917) 526-0855; mwichman@pondel.com
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