The defense contractor plans to integrate and market EEStor's units for military and homeland security applications.
Bethesda, Md.-based Lockheed Martin (NYSE: LMT) announced that it signed a deal with EEStor to use the secretive Ceder Park, Texas, company's ultracapacitors for military and homeland security applications.
Lockheed Martin, the world's No. 1 defense contractor, did not disclose financial terms for the exclusive international rights agreement.
The company said EEStor is developing a ceramic battery chemistry that could provide 10 times the energy density of lead acid batteries at one tenth the weight and volume.
"Our ruggedized BattPack energy storage unit generated considerable interest at the Association of the United States Army Annual Meeting in October 2007 for its potential for fuel savings in vehicular silent watch applications," said Lionel Liebman, manager of Program Development and Applied Research at Lockheed Martin's Missiles and Fire Control unit.
"The potential of an even safer, smaller and more powerful EESU (Electrical Energy Storage Unit) in BattPack would significantly enhance the warfighter's capabilities."
Lockheed Martin said EEStor's batteries are planned to be non-toxic, non-hazardous and non-explosive, as well as half the price per stored watt-hour than traditional battery technologies.
Toronto, Ontario's Zenn Motor (TSX: ZNN), which makes low-speed electric vehicles, has the exclusive rights to use EEStor's storage system in small vehicles (see Cleantech.com's Zenn electric cars cleared for Canada).
Lockheed Martin said qualification testing and mass production of the ultracapacitors is planned for late 2008 at EEStor's facility in Cedar Park.
The EEStor supercapacitor cells are said to use barium titanate coated with aluminum oxide and glass to achieve a level of energy capacitance claimed to be much higher than what is currently available in the market.
Its good to see another great product bought up by the government so that the public will never see it ever again!!