Defense, aerospace giant Lockeed Martin to use Nextreme Thermal technology
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DURHAM, N.C. – Venture backed Nextreme Thermal, which recently closed on more than $20 million in venture funding and is backed by the investment arm of the CIA, will be working with Lockheed Martin as a customer.
The aerospace, homeland security and defense industry giant says it will use Nextreme’s proprietary technology for use in new products.
“Lockheed Martin is a global leader and engaging with them is a tremendous step forward for Nextreme," said Nextreme Chief Executive Officer Jesko von Windheim. “They represent leading-edge technology and offer an exceptional channel into the government sector, both of which can accelerate the development of next generation products.”
Financial terms were not disclosed.
With products such as the OptoCoolers, Nextreme has developed patented means of dealing with heat in electronics. Nextreme technology helps cool light-emitting diodes and helps boost batteries by harvesting heat and turning it into power in devices such as laptops and night vision goggles. It also owns licensing rights to thin-film thermoelectric technology from California Institute of Technology that was developed at NASA’s jet Propulsion Laboratory.
Nextreme’s technology enables it to embed into semiconductor chips cooling, temperature control and power generation capabilities.
Lockheed Martin (NYSE: LMT) said it plans to use Nextreme’s thin-film thermoelectric technology to develop products and services focusing on thermal and power management for government and the private sector.
“The agreement gives us the opportunity to offer our customers new and differentiated products for enhanced thermal and power management,” said Brad Pietras, director of nanotechnology programs at Lockheed Martin.
A spin-out of RTI International, Nextreme recently closed on more than $20 million in venture financing. Investors include the CIA’s In-Q-Tel and RTI. RTI spun out Nnextreme in 2004.
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