Lockheed Martin, Space Florida collaborate on underwater vehicle program

PALM BEACH, Fla., 17 Nov. 2011. Lockheed Martin [NYSE:LMT] and Space Florida engineers are working together to advance the testing and production of the Marlin new autonomous underwater vehicle (AUV). Lockheed Martin engineers will integrate sophisticated sensors and imaging equipment into Marlin systems to conduct commercial underwater inspections, such as examining underwater infrastructure and pipelines after severe weather.

Nov 17th, 2011

Posted by Courtney E. Howard

PALM BEACH, Fla., 17 Nov. 2011. Lockheed Martin [NYSE:LMT] and Space Florida engineers are working together to advance the testing and production of the Marlin new autonomous underwater vehicle (AUV). Lockheed Martin engineers will integrate sophisticated sensors and imaging equipment into Marlin systems to conduct commercial underwater inspections, such as examining underwater infrastructure and pipelines after severe weather.

Space Florida is investing in Lockheed Martin's technology, purchasing prototypes through equity and Bank of America financing, to help enable further refinement, as well as marketing prior to commercial production of the AUV. Marlin AUVs will be built at Lockheed Martin's Palm Beach facility, and then tested and demonstrated in open waters off of Florida's Atlantic and Gulf coasts.

"These types of technologies that have significant applications in the aerospace industry will help to maintain Florida's high-tech leadership," says Florida Lt. Governor Jennifer Carroll. “This agreement is expected to create approximately 50 high-tech jobs over five years."

"This investment fits well with Space Florida's strategy of leveraging aerospace-related technology in growing the industry three-fold in Florida by 2020; additionally, this project utilizes the financing capabilities that the Florida Legislature gave Space Florida to help strengthen the state's position as a global leader in aerospace research," notes Frank DiBello, Space Florida president.

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