Lockheed Martin (NYSE: LMT) has announced 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, the company said.
This energy storage system is capable of storing six to 12 hours or more of energy, dispatching it as needed. 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.
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.
TC Energy and its affiliates deliver the energy millions of people rely on every day to power their lives and fuel industry. The company is 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.