Lockheed Martin Signs Agreement with EESTOR, Inc., for Energy Storage Solutions
DALLAS, TX, 01/09/2008 -- Lockheed Martin [NYSE: LMT] has signed an exclusive international rights agreement to integrate and market Electrical Energy Storage Units (EESU) from EEStor, Inc., for military and homeland security applications. Specific terms of the agreement were not disclosed.
EEStor, based in Cedar Park, TX, is developing a ceramic battery chemistry that could provide 10 times the energy density of lead acid batteries at 1/10th the weight and volume. As envisioned, EESUs will be a fully green technology that will be half the price per stored watt-hour than traditional battery technologies.
Lockheed Martin has a wide range of innovative energy solutions for federal, state and regional energy applications, said Glenn Miller, vice president of Technical Operations and Applied Research at Lockheed Martin Missiles and Fire Control. The EEStor energy storage technology provides potential solutions for the demanding requirements for energy in military and homeland defense applications.
EESUs are planned as nontoxic, non-hazardous and non-explosive. Since the EESU design is based on ultra-capacitor architecture, it will allow for flexible packaging and rapid charge/discharge capabilities. EESUs will be ideally suited for a wide range of power management initiatives that could lead to energy independence for the Warfighter.
Lockheed Martin continues to focus on providing our Warfighters with new and innovative technologies that will make their jobs easier, said Lionel Liebman, manager of Program Development – Applied Research at Lockheed Martin Missiles and Fire Control. Our ruggedized BattPack™ energy storage unit generated considerable interest at the Association of the United States Army Annual Meeting in October 2007 for its potential for fuel savings in vehicular silent watch applications. The potential of an even safer, smaller and more powerful EESU in BattPack™ would significantly enhance the Warfighter's capabilities.
EESU qualification testing and mass production at EEStor's facility in Cedar Park is planned for late 2008.
EEStor, Inc., of Cedar Park, TX, originally developed its solid-state EESU technology as a longer lasting, lighter, more powerful environmentally friendly electronic storage unit for a wide variety of applications. EEStor's vision also includes EESU facilitating the conversion of wind energy and photovoltaics into primary electrical energy providers and increasing the role of renewables for increasing energy production. Its CEO and president, Richard Weir, is also the inventor named on its EESU principal technology patent.
Headquartered in Bethesda, Md., Lockheed Martin employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.