Lockheed Martin Licenses Ideal Power Converters Technology

DALLAS, TX, August 2nd, 2010 -- Lockheed Martin [NYSE: LMT] has signed a technology license with Ideal Power Converters, Inc. (IPC), an innovative power converter firm, for the use of IPC converters in government, vehicle and certain transportable applications. Specific terms of the agreement were not disclosed.

Lockheed Martin will use IPC's converters to create more efficient and versatile intelligent microgrid solutions and improve performance of electric/hybrid-electric vehicles, among other applications. Lockheed Martin is already using IPC's technology in a U.S. Army Hybrid Intelligent Power (HI-Power) development contract.
"This technology allows Lockheed Martin to develop a new generation of power converter systems that significantly increase efficiency with dramatic reductions in size and weight," said Gil Metzger, director for Force Projection and Power Management Systems at Lockheed Martin Missiles and Fire Control. "We are always looking to incorporate the best technologies to deliver power systems that define the industry standard for flexibility, reliability, efficiency and value."

IPC is developing this universal power converter for a number of applications. The technology will allow AC and DC sources and loads to connect to a common (AC, DC or hybrid) bus using a very compact and efficient approach. Such versatility and interconnectivity is difficult or impossible to achieve using today's standard technologies. Lockheed Martin will be able to produce smaller, lighter and more versatile power converter systems that operate at cooler temperatures; all attributes which could benefit a range of applications including microgrids, military vehicles and commercial plug-in hybrid electric vehicles.