Lockheed Martin Invests in Smart Grid Research and Development at Penn State University
King of Prussia, Pa., 02/26/2009 -- Lockheed Martin (NYSE: LMT) has partnered with Penn State University to develop innovative solutions for the energy sector. As part of the corporation's commitment to tackling critical national energy challenges, Lockheed Martin will fund $400,000 of research and development projects at Penn State in 2009.
Leveraging a partnership spanning more than 30 years, this latest Lockheed Martin – Penn State collaboration will focus on Smart Grid technology. Specifically, the research will include advisory and control methods, predictive and diagnostic modeling and simulation, cyber security, and the development of a test bed for exploration, experimentation and validation of Advanced Meter Infrastructure and Smart Grid technologies.
"We believe that proven approaches to integrating and delivering complex, secure, defense systems can bring real benefit to energy partners as they look to implement secure scalable solutions, optimize critical resources, and manage risk," said Bill Graham, president of Lockheed Martin's Enterprise Integration Group. "We are pleased to be teaming with Penn State, an internationally-recognized leader in fundamental and applied energy research and development, on this nationally important issue."
"We're looking forward to combining the strengths of Penn State and Lockheed Martin to solve complex problems for the energy industry," said Dr. Tom Hughes, Director of the Energy Science & Power Systems division of Penn State's Applied Research Laboratory.
"This research will ensure that Smart Grid implementations are secure, protecting energy users' privacy and guaranteeing billing accuracy for utilities," said Patrick McDaniel, Associate Professor for Penn State's Computer Science and Engineering department.
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 146,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2008 sales of $42.7 billion.