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Lockheed Martin acquires energy storage firm Sun Catalytix

28/08/2014 by


Global security and aerospace company Lockheed Martin has acquired the US-based energy storage and renewable fuels technology firm Sun Catalytix.

The acquisition complements Lockheed Martin's existing capabilities in the energy management and efficiency.

Both the firms did not disclose the financial terms of the transaction.

As part of the transaction, 25 Sun Catalytix employees and the company's intellectual property, contracts and facilities will become part of Lockheed Martin.

Cambridge, Massachusetts-based Sun Catalytix will operate as a subsidiary within Lockheed's missiles and fire control business area and will do business under the name Lockheed Martin Advanced Energy Storage.

Lockheed said Sun Catalytix brings engineering and chemistry expertise to energy technologies and applications with the continued development of an affordable energy storage technology.

Sun Catalytix has focused its efforts on work to design, synthesize and carry out electrochemical testing on an energy storage chemistry derived from earth-abundant materials.

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