StaffWashington Business Journal
As the traditional defense contracting business contracts, Washington area firms are turning to the energy market to energize their bottom lines. Lockheed Martin and Leidos are just some of the area companies looking to find new business in the energy field, The Washington Post reported.
Lockheed Martin has been especially busy on this front, inking a deal last Nov. to test a new kind of power plant in Hawaii that generates energy using ocean thermal technology. Last month it signed a deal with Victorian Wave Partners to develop a $205 million project that will use special buoys that pull energy from the motion of ocean waves.
Reston-based Leidos has also been active in energy. Since 2011, the contractor has been selling its “Smart Grid as a Service” hardware and software product to utility companies.