Lockheed Martin (NYSE: LMT) has announced it has reached a definitive agreement with TRC Companies in which TRC will acquire Lockheed Martin Energy´s Distributed Energy Solutions group, the company said.
The sale is part of Lockheed Martin Energy´s strategy to focus on products and technology for the energy marketplace and the Department of Defense. Lockheed Martin Energy is a line of business within Lockheed Martin focused on delivering targeted, flexible, affordable and effective energy products to customers all over the world.
Distributed Energy Solutions (DES) is a commercial business principally engaged in providing distributed energy services to electric and gas utility customers. DES provides comprehensive services for energy efficiency, demand response, beneficial electrification, distributed energy resource management, data analytics, IT/OT systems integration & operation, cyber security, cloud and web services.
TRC is a provider of end-to-end engineering, consulting and construction management solutions, fueled by innovative technology. TRC´s strong utility and industry relationships, along with the addition of the DES group, will position TRC as one of the leading players in the Advanced Energy segment. The combined capabilities offer best quality, industry leading and tech enabled solutions to a combined customer base and the segment in general.
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.