Canadian aerial imaging systems developer PV Labs has received an investment from Lockheed Martin to continue developing electro-optical / infrared sensing.
The $4m investment has been secured under the Government of Canada Industrial Technological Benefits (ITB) Investment Framework Policy.
With the investment, PV Labs will be able to expand its involvement in surveillance research as it relates to its Fifth-generation Advanced Stabilization Technology (FAST) along with the development of long-range optical sensors.
The company will continue the development of a next-generation electro-optical / infrared sensor system, which will be tested and flown later this year.
Initially, the system was demonstrated with Lockheed Martin for a US defence agency last May. It will provide improved resolution at further standoff range, as well as image stabilisation.
Lockheed Martin Canada chief executive Lorraine Ben said: “This is an important investment for Lockheed Martin in a Canadian business providing innovative technology for today’s warfighter.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
“We are always looking for the best opportunities to partner with local businesses and grow our global supply chain while making a substantial economic impact in Canada.”
Under the investment, the operator will receive leap ahead sensor technology from Lockheed Martin.
Lockheed Martin’s investment supports the ITB obligations associated with Canada’s purchase and in-service support maintenance.
It is also in support of 17 CC-130J Super Hercules aircraft delivered to the Royal Canadian Air Force in 2010.
PV Labs CEO Mark Chamberlain said: “Lockheed Martin and PV Labs have enjoyed collaborating on ground-breaking projects for over a decade, and through this ITB this relationship will continue to grow while also providing impactful jobs in the Burlington and Hamilton, Ontario, region.”