Lockheed Martin Announces Teaming Agreement with TC Energy on Innovative Flow Battery Technology

News provided by

Dec 12, 2019, 09:00 ET

BETHESDA, Md., Dec. 12, 2019 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) announced today 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. This cutting-edge energy storage system is capable of storing six to 12 hours or more of energy and dispatching it as needed.

"We are thrilled to be partnering with TC Energy to bring long-duration energy storage to TC Energy projects in North America," said Dan Norton, vice president of Lockheed Martin Energy. "GridStar^® Flow provides the durability, flexibility and safety necessary for project success, ensuring that TC Energy can customize systems to fit their needs and operate them for many years."

"We are excited to work with Lockheed Martin on this initiative, which exemplifies TC Energy's long history of embracing innovation and leading-edge technology in its operations," says Francois Poirier, Executive Vice-President, Corporate Development & Strategy, and President, Power & Storage and Mexico. "This technology also strongly supports our commitments to sustainable development, including the reduction of greenhouse gas emissions in the energy value chains."

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.

About Lockheed Martin
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.

About TC Energy
TC Energy and its affiliates deliver the energy millions of people rely on every day to power their lives and fuel industry. Focused on what we do and how we do it, we are guided by core values of safety, responsibility, collaboration and integrity. Our more than 7,000 people are 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. Visit TCEnergy.com and connect with us on social media to learn more.

SOURCE Lockheed Martin