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Business

Lockheed Martin Buys Sun Catalytix

by Melody M. Bomgardner
September 1, 2014 | APPEARED IN VOLUME 92, ISSUE 35

Aerospace firm Lockheed Martin has acquired start-up energy firm Sun Catalytix. Financial terms of the deal were not disclosed. Founded by Harvard University professor Daniel G. Nocera, Sun Catalytix first pursued a technology to convert solar energy to hydrogen for use in fuel cells. After a major change in direction, it turned to developing an advanced flow battery for stationary energy storage. Lockheed will gain the firm’s intellectual property, contracts, facilities, and 25 employees and will continue the work of designing and testing stationary batteries.

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