Lockheed Martin Corp.
) has acquired Cambridge, MA-based energy storage and conversion
technology developer Sun Catalytix Corp. for an undisclosed amount.
This addition enhances Lockheed Martin's potential in the field of
energy management and efficiency.
The purchase comprises some intellectual property, contracts,
facilities and the transfer of Sun Catalytix's approximately 25
employees to Lockheed Martin. Sun Catalytix will operate as an
affiliate of Lockheed Martin through its Missiles and Fire Control
business under the name Lockheed Martin Advanced Energy Storage
Founded by Professor Daniel Nocera, Sun Catalytix's current work is
focused on designing, synthesizing and conducting electrochemical
testing of an energy storage chemistry derived from earth-abundant
Lockheed Martin is showing a keen interest in energy efficiency
programs. The company has teamed up with NASCAR and the American
Council On Renewable Energy (ACORE) to boost renewable energy
While many investors count on contract wins to gauge the
performance of Pentagon's foremost contractor, Lockheed Martin it
seems has also chosen to 'Go Green' for a cleaner tomorrow. Earlier
this year, the company in partnership with a unit of Ocean Power
Technologies Inc. - Victorian Wave Partners Ltd. - planned to
generate electricity off the coast of Victoria, Australia in what
will be the world's largest wave energy project.
In Apr 2013, Lockheed Martin had entered into an agreement with
Reignwood Group to develop an Ocean Thermal Energy Conversion
(OTEC) pilot power plant located off the coast of southern China.
Per the agreement, this offshore plant with an electric generation
capacity of 10 MW will be designed by Lockheed Martin. The plant
will supply all the power for a green resort built by Reignwood
The company presently retains a Zacks Rank #2 (Buy). Other stocks
worth considering are Zacks Ranked #1 (Strong Buy) Air Industries
) and Zacks Ranked #2 (Buy) The Boeing Co. (
) and General Dynamics Corp. (
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