Fortify Receives Strategic Investment From Lockheed Martin Ventures
Funding will be used to accelerate additive manufacturing RF components.
BOSTON, December 13, 2022 (Newswire.com) - Fortify, a full stack materials science and digital manufacturing company, announced today that it has received a strategic investment from Lockheed Martin Ventures, the venture capital arm of Lockheed Martin Corporation (NYSE:LMT). The funds will be used for process and material development of additive manufacturing of RF (radio frequency) devices.
"Lockheed Martin develops and invests in critical, breakthrough technologies to help our customer solve for what the future holds," said Chris Moran, vice president and general manager of Lockheed Martin Ventures. "Lockheed Martin has been working closely with the Fortify platform, and we are excited to be on their team of investors."
"The high-frequency communication space around RF is exploding with growth. This is not only in Aerospace, but also in commercial 5G, Satellite Communications, autonomous vehicle sensors, and IoT," said Lawrence Ganti, Fortify CEO. "Fortify is thrilled to welcome Lockheed Martin Ventures as a strategic investor. Each of Lockheed Martin's business areas have been adopting additive technologies for mission-critical systems at an aggressive rate. We've built and tested cutting-edge antenna and radar systems that are great examples of how additive can create unique value in Aerospace, Defense, and Communications."
Fortify's Digital Composite Manufacturing (DCM) platform enables the manufacturing of complex structures with unique mechanical, electrical, thermal, and electromagnetic properties. Business units across Lockheed Martin Corporation, including Aeronautics, Rotary and Mission Systems (RMS), Missiles and Fire Control (MFC), and Space, are engaged to leverage the Fortify platform.
"Lockheed Martin has been a great partner and is continuing to accelerate Fortify's growth into the advanced RF and electronics applications segment," said Josh Martin, Chief Product Officer and Co-founder at Fortify. "The ventures team and the technical fellows have been helpful in providing direct feedback on how we can effectively navigate the A&D (aerospace and defense) sector. The programs we have executed on have directly influenced our product development through specific materials qualification and functional part testing."
Lockheed Martin Ventures joins a growing list of investors, including In-Q-Tel (IQT), the Department of Energy (DoE), Accel Partners, Cota Capital, Neotribe, Prelude Ventures, Mainspring, and OceanAzul. Meet with a Fortify team member at the Military AM show Feb. 1-2, 2023, in Tampa, FL.
Fortify is an architected materials company that is transforming industries by unlocking the ability to fabricate devices previously impossible using traditional manufacturing. Fortify's solution includes a patented Digital Composite Manufacturing (DCM) platform built for high-viscosity, filled materials. The company's suite of proprietary materials with tailored mechanical, electrical, thermal, and electromagnetic properties, coupled with extreme design freedom, enables customers to bring unique applications to market. By combining a deep understanding of material science with mixing, magnetics, and polymer physics, Fortify can produce custom microstructures in high-resolution 3D printed parts. The company is currently focused on high-value applications ranging from Radio Frequency front end antennas to injection mold tooling and a range of high-performance end-use parts. The company is headquartered in Boston, Massachusetts. For more information, visit www.3dfortify.com.
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 (NYSE: LMT) is a global security and aerospace company that employs approximately 114,000 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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