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Lockheed Martin Ventures Invests in High Performance Electric Motor Manufacturer H3X
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Rhea-AI Summary
DENVER--(BUSINESS WIRE)--H3X Technologies has secured an investment from Lockheed Martin Ventures (NYSE: LMT), totaling $9M in funding. H3X specializes in advanced electric motor development for sustainable aviation and other high-performance applications. This funding will accelerate the development of H3X's HPDM family of integrated motor drives and facilitate expansion of their production facility in Louisville, Colorado. H3X's innovative motors are designed to meet the demanding requirements of electric aviation while also serving markets in defense and ground vehicles.
Positive
Secured $9M investment from Lockheed Martin Ventures.
Funding will accelerate technology development and commercialization.
Expansion of production facility in Louisville, Colorado.
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None.
DENVER--(BUSINESS WIRE)--
H3X Technologies today announced the completion of an investment by Lockheed Martin Ventures (LMV), the venture arm of Lockheed Martin Corporation (NYSE: LMT), a global security and aerospace company. H3X designs and manufactures advanced electric motors to enable sustainable aviation and other high-performance applications. This latest funding brings the total raised by H3X to $9M.
The investment will be used to accelerate technology development and commercialization of H3X’s HPDM family of integrated motor drives and the scale-up of their new headquarters facility in Louisville, Colorado for production.
“At H3X, we are building integrated motor drives from 30kW to 3MW that are unparalleled in performance in terms of specific power (kW/kg) and efficiency,” according to Jason Sylvestre, Co-Founder and CEO of H3X. “We are thrilled to have support from Lockheed Martin and are excited for the opportunity to work together and collaborate on next-generation defense technology using our motors.”
“H3X is working on scaling transformative technologies that we believe have the potential to provide our customer with viable options for electrifying legacy, all-domain systems and components,” said Chris Moran, vice president and general manager of Lockheed Martin Ventures. “Our investment in H3X reinforces Lockheed Martin’s commitment to developing predictive capabilities and scaling solutions that allow the U.S. and its allies to stay ahead of threats.”
H3X has made advancements in several different areas that enable them to reach continuous specific powers of >10kW/kg and best-in-class efficiency. These areas include electromagnetics, material science, power electronics, additive manufacturing, motor control, and thermals. H3X has invested heavily in vertical integration and does design, manufacturing, and testing in-house at their headquarters in Louisville, Colorado.
H3X originally developed this technology to enable compelling fully-electric and hybrid-electric aircraft with excellent range and payload capacity while also significantly reducing noise and operational costs. “When you look at the power density and efficiency requirements that are needed for electrifying narrow-body jets, there really isn’t anything out there that is sufficient,” said Jason Sylvestre. “The Megawatt-class systems that you can buy today still use technology from the last century and are far too large, heavy, and inefficient to meet the demanding requirements of electric aviation.” Additionally, H3X has found that there are a number of other markets that can also benefit from their technology including defense, marine, specialized ground vehicles, and power generation.
H3X currently has three base products, the HPDM-30, the HPDM-250, and the HPDM-3000. These three units all utilize the same core technology and range in power from 30kW to 3MW. Additionally, the core technology they’ve developed is scalable and modular and can be used to build highly integrated, aerospace-grade solutions that are tailored to match specific customer requirements.
About H3X
Founded in 2020 by a team of multidisciplinary engineers, H3X is an advanced technology and electric motor manufacturing company based in Denver, Colorado. Their team brings together driven minds from automotive, aerospace, and motorsports with deep knowledge in electric machines and power electronics. The mission of the company is to become the world’s leading supplier of aviation-grade electric propulsion systems by 2030 to enable a large-scale revolution aircraft electrification and regional air mobility. For more information, visit www.h3x.tech/
About Lockheed Martin Ventures
Lockheed Martin Ventures makes strategic investments in companies that are developing cutting-edge technologies in core businesses and new markets important to Lockheed Martin. More than a source of capital, Lockheed Martin Ventures provides portfolio companies with access to our world-class engineering talent, state-of-the-art technologies, and research and access to the company's international business relationships and supply chain. For more information visit: www.lockheedmartinventures.com
About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin Corporation is a global security and aerospace company that employs approximately 116,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.
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