Lockheed Martin [LMT] on Monday said it has acquired the assets of Sun Catalytix, a small company developing energy-related technologies and applications, bolstering its capabilities in the area of energy management.
Terms of the deal were not disclosed, although Lockheed Martin said it was immaterial.
Sun Catalytix, which has 25 employees and is based in Massachusetts, is developing energy storage technology that it said is “affordable, safe and scalable.” It said its design principles enable “the design of energy storage systems that surpass the performance and cost achieved by all legacy chemistries.” Lockheed Martin said in its release on the acquisition that Sun’s “Current efforts focus on the design, synthesis and electrochemical testing of a novel energy storage chemistry derived from low cost, earth-abundant materials.”
A Lockheed Martin spokesman told
Defense Daily via email that Sun’s capabilities complement the energy management work it is doing, such as the development of micro-grids.
Sun Catalytix has been renamed Lockheed Martin Advanced Energy Storage, LLC and will be part of the company’s Missiles and Fire Control business area. Sun’s leadership will remain with the company.
Sun was founded by scientists associated with MIT and Harvard.
Separately, Lockheed Martin on Aug. 22 said it has completed the acquisition of the satellite launch preparation services business from Astrotech Corp. [ASTC], a deal that was first announced in May. Astrotech Space Operations (ASO) will become a subsidiary of Lockheed Martin’s Space Systems business area.
Astrotech said that Lockheed Martin paid $61 million for ASO, which has operations in Titusville, Fla., and Vandenberg AFB, Calif. ASO has supported more than 300 successful spacecraft missions.
Astrotech said the sale will allow it to focus its capabilities in mass spectrometry sensors to the security, process control, laboratory and environmental markets.