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June 11, 2018 | International, Aerospace

LOCKHEED MARTIN ANNOUNCES $100 MILLION VENTURE FUND INCREASE

BETHESDA, Md., June 7, 2018 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) announced the doubling of its venture capital fund to $200 million and recent investments in early-stage companies focused in the areas of autonomy and advanced manufacturing.

"Our focus is on finding and investing in companies developing cutting-edge technologies that will grow our business and disrupt our industry," said Chris Moran, vice president and general manager of Lockheed Martin Ventures. "We're developing long-term strategic partnerships with companies and helping them navigate through the early stages of product development while leveraging our decades of experience working with government customers."

Enabled by tax reform legislation, Lockheed Martin Ventures is focusing the additional $100 million on early-stage companies in the areas of sensor technologies, autonomy, artificial intelligence and cyber.

With the fund's latest investment, Lockheed Martin expanded its relationship with nTopology, creator of ELEMENT, an emerging software technology in the high-growth additive and advanced manufacturing sectors.

"Our investment in nTopology will bring strategic advantages in Lockheed Martin's computational design processes and help shorten the periods between the design and manufacturing phase," said Moran.

The increase in the venture fund is part of $460 million that Lockheed Martin is investing as a direct result of tax reform savings. The tax reform legislation enables Lockheed Martin to make investments that improve its global competitiveness, including investing in transformative technologies that will bring lasting benefits to customers, employees and communities.

The company is making additional investments enabled by tax reform savings, including:

  • $200 million additional investments in capital expenditures and research and development in 2018
  • $100 million in employee training and educational opportunities over the next five years
  • $50 million investment in science, technology, engineering and math (STEM) education enrichment, including the establishment of a new Lockheed Martin STEM Scholarship Fund
  • $10 million for the launch of the Lockheed Martin Innovation Prize competition

More details of Lockheed Martin's investments enabled by tax reform legislation can be found here.

About Lockheed Martin

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 100,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

SOURCE Lockheed Martin

https://news.lockheedmartin.com/2018-06-07-Lockheed-Martin-Announces-100-Million-Venture-Fund-Increase

On the same subject

  • SOCOM wants a new armor piercing sniper bullet. Here’s one option engineers are developing

    June 13, 2019 | International, Other Defence

    SOCOM wants a new armor piercing sniper bullet. Here’s one option engineers are developing

    By Christian Lowe As the U.S. military shifts its focus back to fighting more traditional, near-peer adversaries like Russian or Chinese troops, the services are building out plans to revamp their gear to deal with better-equipped forces backed by money and technology from world powers. That extends all the way down to the clothing and equipment each of these adversaries could be wearing into battle, including sophisticated body armor. That's why SOCOM is reportedly looking at replacing its decades-old armor piercing small arms round. “Snipers in USSOCOM units have a capability gap in their ability to penetrate enemy body armor, small boat engines and concrete barriers,” Crane researchers said in a slide presentation at this year's National Defense Industries Association Armaments Symposium. The current round uses a discarding sabot the shields a sharpened tungsten penetrator that'll beat most armor and hard targets. But that round is expensive at more than $10 per cartridge, can damage modern small arms accessories like suppressors and muzzle brakes and doesn't hold zero when switching from a traditional jacketed round to the AP round. That makes it difficult for snipers to go from one round to another and hit their target in the heat of battle. So researchers at the Naval Surface Warfare Center in Crane, Indiana, are looking at a new way to make the rounds cheaper, easier on snipers' guns and more ballistically consistent with common, jacketed bullets. Dubbed “aeroshell” projectiles, the Crane engineers want to build and test bullets with a tungsten penetrator jacketed in a polymer shell. Federal Ammunition, a civilian ammo company, makes rounds with similar characteristics dubbed “Syntech." These rounds are typically used by competitive shooters who shoot many rounds in practice and at matches and want to preserve barrel life and diminish spawl from hitting steel targets. Crane researchers want to take the same thought process and apply it to a new AP round. The actual penetrator could have a slightly different shape than the current rounds, with more of a traditional bullet profile than today's needle-like AP round penetrator. Researchers plan to create about 150 rounds of this new aeroshell AP round in .338 Norma Mag, 300 Norma Mag and 6.5 Creedmoor. They plan to test the rounds against representative body armor at 100, 400, 800 and 1,000 meters. https://www.militarytimes.com/off-duty/gearscout/kit/2019/06/11/socom-wants-a-new-armor-piercing-sniper-bullet-heres-one-option-engineers-are-developing/

  • Contract Awards by US Department of Defense - December 28, 2018

    December 31, 2018 | International, Aerospace, Naval, Land, C4ISR, Security

    Contract Awards by US Department of Defense - December 28, 2018

    NAVY Raytheon Missile Systems, Tucson, Arizona, is awarded a not-to-exceed $434,389,104 for undefinitized modification P00001 to a previously awarded, fixed-price-incentive-firm contract (N00019-18-C-1068). This modification provides for the procurement of AIM-9X Lot 18 production requirements to include 766 AIM-9X Block II all up round tactical missiles for the Navy (138); Air Force (197); and the governments of Israel (11); Norway (20); Qatar (40); South Korea (60); and the United Arab Emirates (300), as well as 160 AIM-9X Block II+ all up round missiles for the Navy (12); Air Force (75); and the governments of Australia (49); Israel (7); and the Netherlands (17). In addition, this award provides for the procurement of 170 Block II Captive Air Training Missiles for the Navy (40), Air Force (64), and the governments of Israel (6), Qatar (20), and the United Arab Emirates (40); 12 Special Air Training Missiles for the Navy (4) and the government of Australia (8); 309 all up round containers for the Navy (53), Air Force (94), and the governments of Australia (21), the United Arab Emirates (91), South Korea (17), Norway (5), Israel (7), the Netherlands (5), and Qatar (16); eight Spare Advanced Optical Target Detectors for the governments of Australia (4), the United Arab Emirates (2), and Qatar (2); 50 Spare Guidance Units (Live Battery) for the governments of the United Arab Emirates (26), South Korea (4) and Qatar (20); 35 Spare Captive Air Training Missile Guidance Units for the governments of the United Arab Emirates (15) and Qatar (20); 50 Guidance Unit Containers for the governments of the United Arab Emirates (26), South Korea (4), and Qatar (20); six Spare Advanced Optical Target Detector Containers for the governments of Australia (4) and the United Arab Emirates (2); and one Spare Block II Propulsion Steering Section for the government of Australia (1). 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Fiscal 2017 special defense acquisition funds; fiscal 2011 foreign military sales funds; fiscal 2018 research, development, test and evaluation funds; and fiscal 2018 other procurement funds are funding the contract. This modification involves foreign military sales to the Kingdom of Bahrain. The total cumulative face value of the contract is $33,578,408. Air Force Life Cycle Management Center, Eglin Air Force Base, Florida, is the contract activity. (Awarded Dec. 18, 2018) ARMY Raytheon Co. Missile Systems, Tucson, Arizona, was awarded a $205,205,445 cost-plus-fixed-fee contract for land-based Phalanx weapon system. Bids were solicited via the internet with one received. Work locations and funding will be determined with each order, with an estimated completion date of Dec. 27, 2023. U.S. Army Contracting Command, Redstone Arsenal, Alabama, is the contracting activity (W31P4Q-19-D-0015). 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MISSILE DEFENSE AGENCY CORRECTION: The Dec. 21, 2018, announcement that The Boeing Co., Huntsville, Alabama, was awarded a five-year, sole-source, cost-plus-award-fee contract [HQ0147-19-C-0001] with a period of performance of Dec. 15, 2018, through Dec. 14, 2023, and incremental funding in the amount of $54,900,000 was incorrect. The contract period of performance was actually Dec. 21, 2018, through Dec. 21, 2023, and the amount of incremental funding was $40,904,000. Also, for clarification, the five-year contract is for a three-year base period with two one-year option periods. *Small business https://dod.defense.gov/News/Contracts/Contract-View/Article/1722414/

  • Defense Innovation Board to study innovation barriers, data economy

    October 17, 2023 | International,

    Defense Innovation Board to study innovation barriers, data economy

    The deputy undersecretary of defense for research and engineering commissioned the Defense Innovation Board to complete the studies by February.

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