Demand Management, Distributed Energy Resources, Energy Procurement, Energy Storage, Industrial, Utilities  -  March 16, 2016

Lockheed Martin integrates energy portfolio into single commercial business

Technology company and defense contractor Lockheed Martin combined its energy products and technologies into a single commercial business line that will be called Lockheed Martin Energy.

The company is looking to compete in several energy and power related sectors:

• Energy Management: Systems and solutions to improve the transmission, distribution and usage of power for utilities, commercial enterprises and government agencies
• Energy Storage: Turn-key energy storage systems for commercial, industrial and utility applications
• Nuclear Systems: Instrumentation and control systems to ensure safety of commercial and government nuclear power programs
• Ocean Technologies: Renewable energy generation by harnessing the tides and temperature gradients
• Bioenergy: Innovative systems to convert biomass and waste into energy

Energy storage is a growing business receiving interest among utilities. Ocean technology is largely experimental, with very limited proven commercial applications. Some have speculated that Lockheed will inject some fresh innovation into the space and move the nascent generation technology forward.

"For decades, we have been investing in smart, natural and safe energy technologies," Frank Armijo, the newly appointed vice president of Lockheed Martin Energy said in a statement. "With our broad energy capabilities now under a single organization, we'll focus our business growth strategy, enhance collaboration, advance new technology – and ultimately build Lockheed Martin Energy into a true leader in the expanding energy market."

Share this valuable information with your colleagues using the buttons below: