Global manufacturing giant Lockheed Martin has announced that its marine hydrokinetics unit will now operate as part of a newly established business line called Lockheed Martin Energy.
The division, which Lockheed Martin Energy calls "Ocean Technologies", is joined by Energy Management, Energy Storage, Nuclear Systems and Bioenergy.
"With our broad energy capabilities now under a single organization, we'll focus our business growth strategy, enhance collaboration, advance new technology and ultimately build Lockheed Martin Energy into a true leader in the expanding energy market," vice president Frank Armijo said.
The process began in Summer 2015. Lockheed Martin Energy is located in Grand Prairie, Texas, with nearly 1,000 employees.
Lockheed Martin has had its hand in a number of ocean energy projects in recent years -- most notably the MeyGen array located in Scotland's Pentland Firth.
The company announced last March that it had been awarded a contract from MeyGen developer Atlantis Resources Ltd. to deliver a 1.5 MW tidal turbine for the project. Lockheed Martin previously provided optimization services for the unit's design.
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