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Lockheed Martin Ventures Invests in Electric Motor Company

by Mia Yao
Lockheed Martin Ventures Invests in Electric Motor Company

Lockheed Martin’s venture arm Lockheed Martin Ventures has invested in H3X Technologies, an advanced electric motor manufacturer, bringing its total raised funding to USD$9 million.

The company, without disclosing the specific funding amount, said it will use the money to develop and advance motor technologies, as well as to scale up its new facility in Colorado.

“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,” said Jason Sylvestre, Co-Founder and CEO, H3X.

The Denver-based company develops electric motors ranging from 30 kW to 3MW, and its main focus is on fully-electric and hybrid-electric commercial aircraft.

Sylvestre said in terms of power density and efficiency, there are no electric motors that are sufficient and available in the market.

“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,” he said, adding that markets including defense, marine, specialized ground vehicles, and power generation will also benefit from the technology which the company is working on.

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