Lockheed Acquires Energy Storage, Conversion Tech Maker Sun Catalytix

lockheed martinLockheed Martin (NYSE: LMT) has acquired Cambridge, Massachusetts-based energy storage and conversion technology maker Sun Catalytix Corp. for an undisclosed sum.

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 LLC, Lockheed said Monday.

Twenty-five Sun Catalytix employees as well as the company’s intellectual property, contracts and facilities will also join Lockheed as part of the transaction.

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

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