With an investment of $5m over five years, Lockheed Martin has become a sustaining member of the MIT Energy Initiative (MITEI), supporting a portfolio of diverse energy research projects and education at the Institute. Lockheed Martin will direct a majority of its annual contribution to targeted research projects in the areas of climate change, alternative energies, as well as energy storage and management.
Ray Johnson, senior vice president and chief technology officer of Lockheed Martin, said: “As a global security company, we recognize the economic and strategic challenges posed by a dependence on foreign oil, the potential destabilizing effect of global climate change, and the vulnerability of our nation’s aging power grid. This investment provides opportunities for industry and academia to partner to develop clean, secure, and smart energy – supporting national security, a strong economic future, and climate protection for future generations.”
Susan Hockfield, president of MIT, said: “This new partnership with Lockheed Martin promises significant progress in how the world produces and consumes energy. We appreciate the company’s confidence in MIT faculty and researchers, and look forward to working together to help meet the world’s pressing energy challenges.”
Lockheed Martin will also support MITEI’s Energy Research Seed Fund programme to support early-stage research projects addressing energy related environmental issues.
