Fund invests in disruptive, cutting-edge technologies Lockheed Martin (NYSE: LMT) recently 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,” […]
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Fund invests in disruptive, cutting-edge technologies
Lockheed Martin (NYSE: LMT) recently 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,” Chris Moran, VP and general manager of Lockheed Martin Ventures, said in a news release. “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 (the Tax Cuts and Jobs Act of 2017), Lockheed Martin Ventures said it 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,” Moran said.
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 Cuts and Jobs Act 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 noted.
The Bethesda, Maryland–based global security and aerospace company is making additional investments enabled by tax-reform savings, including:
• 200 million in 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 to be invested 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
Lockheed Martin employs more than 100,000 people worldwide — including 2,350 in Central New York, where it operates plants in Salina and Owego.