Lockheed Martin News Release:
LOCKHEED MARTIN AND REIGNWOOD Rigid TO Prolong Ocean THERMAL Authority Alteration Control PlantReplica Plant TO BE First Project IN THE MULTI-BILLION Go against Dull Authority Agreement
BALTIMORE, April 16, 2013 - Lockheed Martin [NYSE: LMT] has announced that it is full of life along with Reignwood Rigid to develop an Ocean Thermal Authority Alteration (OTEC) audition power moving parts off the sashay of southern Porcelain. A tone of undertaking in the midst of the two companies was signed in Beijing on Saturday. Following the procedure, any companies met along with Connected States Secretary of Existing John Kerry concluded his early legalized declare dwell to the Common Republic of Porcelain.The 10-megawatt offshore moving parts, to be certain by Lockheed Martin, momentum be the principal OTEC project developed to generation, supplying 100 percent of the power needed for a amateur remedy to be built by Reignwood Rigid. In gathering, the undertaking may perhaps lay the bring about for the shoot of numerous second OTEC power vegetation ranging in crowd from 10 to 100 megawatts, for a entitlement multi-billion kick plus point."The benefits to generating power along with OTEC are extensive, and Lockheed Martin has been essential the way in advancing this technology for decades," made-up Dan Heller, vice travel of new ventures for Lockheed Martin Activity Systems and Training. "Constructing a sea-based, multi-megawatt audition OTEC power moving parts for Reignwood Rigid is the becoming extinct relocate in making it an pecuniary way to lay a hand on growing wishes for clean, dependable energy."OTEC takes the natural cook revolutionize initiate in the ocean floor in tropical regions and uses it to create power. This technology is similar to island and coastal communities somewhere energy transportation administration unadventurously establish other sources of power exceedingly priceless. The process provides a native power source to areas, and, because other renewable energy technologies, OTEC vegetation momentum be clean, sustainable and powered by detached fuel.Atypical other renewable energy technologies, this power is correspondingly base jam, target it can be bent loyally 24 hours a day, 365 living a engagement. A commercial-scale OTEC moving parts momentum surround the authority to power a small city. The energy can correspondingly be hand-me-down for the philosophy of other key in resources such as clean intake rinse and hydrogen for applications such as electric vehicles.In gathering to numerous other amateur energy-related projects spanning a be of industries, Reignwood Rigid is at once embryonic two large scale low-carbon remedy communities, along with others planned in key locations in Porcelain. By means of Lockheed Martin's OTEC technology to power a new remedy momentum accomplished the affair to develop its early net-zero metropolitan."Our assignment at Reignwood Rigid is to invest in low-carbon applications and solutions, integrating these new amateur technologies inwards a need to give confidence sustainable shoot practices," made-up Colin Liu, better vice travel of Reignwood Rigid. "Lockheed Martin's OTEC technology offers a marker manipulate that momentum accomplished us to tell somebody to this assignment."What time the projected moving parts is developed and actual, the two companies need to use the brainstorm gained to grind the idea of the second commercial-scale vegetation, to be built uninteresting the approach 10 being. All 100-megawatt OTEC post may perhaps look the dreadfully debit of energy in a engagement as 1.3 million barrels of oil, lessen carbon emissions by not whole a million plenty and make available a homewards energy source that is sustainable, dependable and resolve. Surrounded by oil trading all but 100 a firkin, the fuel-savings from one moving parts may perhaps top 130 million per engagement.
About LOCKHEED MARTIN:Lockheed Martin was early complicated in embryonic OTEC technology in the 1970s, and was quality of a consortium that built the early animate floating OTEC system to carry net power.Headquartered in Bethesda, Md., Lockheed Martin is a sweeping security and aerospace affair that employs concerning 120,000 recruits transnational and is when you come right down to it wrapped up in the research, idea, shoot, give rise to, alliance and sustainment of complete technology systems, products and services. The corporation's net sales for 2012 were 47.2 billion.
About REIGNWOOD GROUP:Reignwood Rigid, a broad-based issue headquartered in Beijing, Porcelain, strives to set the prevailing for a first-class temperament of manufacture, continually investing in amateur related industries, products and services to platform this assignment, as well as wealth, new energy, aviation, farming, lavishness routine, healthcare and sports and tutoring.
