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Business/Financial

Lockheed Martin To Divest Distributed Energy Services Business

By Cal Biesecker

Wednesday, October 23rd, 2019

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Lockheed Martin To Divest Distributed Energy Services Business

Lockheed Martin's Energy business includes long-duration storage solutions. Image: Lockheed Martin

Lockheed Martin [LMT] on Wednesday said it has agreed to sell an energy business to TRC Companies, a consulting, engineering and construction firm supporting energy, environmental and infrastructure markets. Terms of the deal were not disclosed. Lockheed Martin said the divestiture of its Distributed Energy Solutions business will let it focus its energy strategy on products and technology for the energy market and the Defense Department. The Distributed Energy Solutions group is a commercial business that provides services for energy…

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