Military Contractors Go Green; Lockheed Jumping Into Wave Farms

It was bound to happen.

Lockheed Martin has signed a letter of intent with Ocean Power Technologies to build a utility-scale wave farm in North America. OPT will provide site development expertise while Lockheed will bring in the construction, logistics and operation expertise.

Lockheed is also working on utility-sized solar projects with Starwood Energy Group.

Some out there will see the name Lockheed and go “ewwwww.” The company has been a major military contractor for decades. But frankly, this is a real sign of hope that green will thrive. The greentech industry is trying to move beyond the concept stage to actual, practical, massive deployment, and that’s going to require the help of large, well-funded, and well-connected companies. Moving from fossil fuels will likely turn into one of the biggest construction and manufacturing projects since World War II. Lockheed has employees who’ve spent several years of their lives locked up in zoning hearings.

Haliburton? You’ll likely see that name percolate in greentech over the next few years. If geothermal takes off, all the oil drillers will get into it.

Granted, this means that you’ll also see an influx of bureaucractic inefficiency and some of the other charms of conglomerate style corporate management. But it’s better that than stay stuck on the fringes.