PV Labs has announced that it has received a USD 4 million investment from Lockheed Martin (NYSE: LMT) or advanced stabilization technology, under the Government of Canada Industrial Technological Benefits (ITB) Investment Framework Policy, the company said.
Lockheed Martin´s investment is in direct support of the ITB obligations associated with Canada´s purchase and In-Service Support maintenance, and support of 17 CC-130J Super Hercules aircraft, which were delivered to the Royal Canadian Air Force in 2010.
The investment will further expand PV Labs involvement in surveillance research as it relates to their patented Fifth-generation Advanced Stabilization Technology (FAST) along with the development of high resolution, long range optical sensors.
As a result PV Labs will continue the development of a next generation Electro-Optical / Infrared Sensor System that was first demonstrated with Lockheed Martin for a US defense agency. The continuation will be tested and flown in late 2020. The new sensor system will provide greater resolution at further standoff range while providing superior image stabilization.
Headquartered in Burlington, Ontario, PV Labs is a designer and developer of aerial imaging systems used for Intelligence, Surveillance, & Reconnaissance (ISR) applications within various levels of governments and military.
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 97,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.