by Daniel J. Graeber
Bethesda, Md. (UPI) Mar 16, 2016
Defense company Lockheed Martin said it formed a new commercial line that would focus on expanding into the energy technology market.
The company is combining its energy products and technologies lines under a single entity called Lockheed Martin Energy. Frank Armijo, the company's newly-minted vice president, said the structure would build on a strong foundation in energy technologies.
"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," he said in a statement.
The Department of Defense has called for the addition of 3 gigawatts worth of renewable energy to help meet the electricity demands of military facilities. The mandate is part of a broader departmental directive to use renewable energy resources for at least 25 percent of its energy consumption.
Last month, Lockheed signed a 17-year purchase agreement to get solar-generated electricity from Duke Energy Renewables. Duke has a new solar facility in North Carolina that, as the largest plant of its kind east of the Mississippi River, is producing 80 megawatts of total energy. Lockheed secures about 40 percent of the total output.
Overseas, the defense company said it secured a $43 million contract to help with the development of a 5 megawatt power plant in Germany that will transform waste into energy.
Lockheed Chairman, President and Chief Executive Officer Marillyn Hewson said that, apart from national defense, "the challenges of extreme weather, climate change [and] environmental degradation" were emerging as rising security interests.
All About Solar Energy at SolarDaily.com
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement|