Lockheed Martin Buys Energy Storage Firm
Lockheed Martin has completed the acquisition of substantially all of the assets of Sun Catalytix of Cambridge, Mass. Lockheed Martin says the purchase complements its existing capabilities in the area of energy management and efficiency. The purchase includes certain intellectual property, contracts, facilities and the transfer of the company’s approximately 25 employees to Lockheed Martin. The terms of the agreement were not disclosed.
Going forward, the operation will be known as Lockheed Martin Advanced Energy Storage and will be a wholly-owned subsidiary of Lockheed Martin.
Sun Catalytix has been developing a scalable energy storage technology. Current efforts focus on the design, synthesis and electrochemical testing of an energy storage chemistry derived from low cost, earth-abundant materials.
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