BETHESDA, Md., Dec. 12, 2019 /PRNewswire/ -- Lockheed
Martin (NYSE: LMT) announced today a teaming agreement with TC
Energy in which the two companies will identify and develop
large-scale, long-duration energy storage projects using GridStar®
Flow, Lockheed Martin's innovative flow battery technology. This
cutting-edge energy storage system is capable of storing six to 12
hours or more of energy and dispatching it as needed.
"We are thrilled to be partnering with TC Energy to bring
long-duration energy storage to TC Energy projects in North America," said Dan Norton, vice president of Lockheed Martin
Energy. "GridStar® Flow provides the durability,
flexibility and safety necessary for project success, ensuring that
TC Energy can customize systems to fit their needs and operate them
for many years."
"We are excited to work with Lockheed Martin on this initiative,
which exemplifies TC Energy's long history of embracing innovation
and leading-edge technology in its operations," says Francois Poirier, Executive Vice-President,
Corporate Development & Strategy, and President, Power &
Storage and Mexico. "This
technology also strongly supports our commitments to sustainable
development, including the reduction of greenhouse gas emissions in
the energy value chains."
GridStar® Flow will enable TC Energy to address the
growing requirements for large-scale, long-duration batteries to
provide flexibility and resiliency as electric grids move away from
fossil fuel generation and incorporate increasing levels of
intermittent renewable energy.
Unlike conventional batteries, GridStar® Flow allows
customers to optimally size power (megawatts) and energy (megawatt
hours) independently and maintains its energy capacity without
degradation throughout project life.
About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a
global security and aerospace company that employs approximately
105,000 people worldwide and is principally engaged in the
research, design, development, manufacture, integration and
sustainment of advanced technology systems, products and
services.
About TC Energy
TC Energy and its affiliates deliver
the energy millions of people rely on every day to power their
lives and fuel industry. Focused on what we do and how we do it, we
are guided by core values of safety, responsibility, collaboration
and integrity. Our more than 7,000 people are committed to
sustainably developing and operating pipeline, power generation and
energy storage facilities across Canada, the United
States and Mexico. TC
Energy's common shares trade on the Toronto (TSX) and New York (NYSE) stock exchanges under the
symbol TRP. Visit TCEnergy.com and connect with us on social
media to learn more.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/lockheed-martin-announces-teaming-agreement-with-tc-energy-on-innovative-flow-battery-technology-300974024.html
SOURCE Lockheed Martin