Jay Clemens
Lockheed Martin is looking to expand its business to the energy sector and other civilian projects as U.S. defense spending continues to decline, the Wall Street Journal reported Thursday.
Doug Cameron writes the company seeks to build a nuclear reactor, remote-controlled fish farms and a water desalination membrane.
Ray Johnson, chief technology officer at Lockheed, told the journal that military-focused energy projects could “result in a very large commercial market.”
The company’s Skunk Works research arm has worked on a nuclear-fusion reactor for the past four years and seeks to team up with utilities and universities, WSJ reports.
Tom McGuire, a research engineer at Skunk Works, told the Journal a production model could complete in 10 years and that the reactor is meant to power U.S. Navy ships.
Lockheed is also developing open-ocean fish pens in collaboration with Kampachi Farms LLC and the Illinois Soybean Association to help eliminate environmental disadvantages of inland or coastal farms, according to the report.
Lockheed also pursues business opportunities with Persian Gulf countries to market the company’s new water-filtration system, Cameron reports.
