Lockheed Martin Completes Integration of Energy Portfolio

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Mar 15, 2016, 12:30 ET

BETHESDA, Md., March 15, 2016 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) has combined its energy products and technologies into a single commercial line of business to be known as Lockheed Martin Energy.

"For decades, we have been investing in smart, natural and safe energy technologies," said Frank Armijo, the newly appointed vice president of Lockheed Martin Energy. "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."

Armijo previously served in various Lockheed Martin leadership roles in energy, technology integration, strategy and business development.

With technologies and products previously aligned in separate business areas across Lockheed Martin, the new, integrated business now offers a comprehensive line of energy solutions, including:

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

Building on expertise developed for defense and intelligence markets, Lockheed Martin Energy will also apply advanced cyber-security architectures throughout its energy offerings.

The integration of the energy business began in the summer of 2015, and over the last several months, all employees and programs were successfully transitioned into the new line of business. Lockheed Martin Energy, based in Grand Prairie, Texas, has nearly 1,000 employees worldwide and is aligned under Lockheed Martin's Missiles and Fire Control business area.

Learn more at www.lockheedmartin.com/energy

About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that – with the addition of Sikorsky – employs approximately 126,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

SOURCE Lockheed Martin