Lockheed Martin forms energy group to tap into technology market

BETHESDA, Md. — 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.

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Source: UPI

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