This article first appeared on thespec.com.
Burlington, ON, January 8, 2020 – Lockheed Martin invests $4 million U.S. in Burlington’s PV Labs
The investment will allow the Burlington-based high tech imaging company to develop product for customers
Lockheed Martin is investing $4 million (U.S.) in the Burlington-based high tech imaging company PV Labs.
At a news conference Wednesday, company president and CEO Mark Chamberlain said the investment by Lockheed Martin will allow the company to really develop their product for their customer.
“This kind of investment in an early stage small technology company is incredibly significant,” Chamberlain said.
The company, which started in 2017 with 25 employees, has invented high-end systems with new technologies and applications for airborne imaging.
Since then, the company has grown to include a total of 45 employees and has plans to increase staff to 70 in 2020.
The company’s new imaging technologies lend themselves to a wide application of uses, including environmental applications like tracking poaching and illegal deforestation and fishing, to illegal smuggling, drug trafficking and military conflicts.
“The company’s whole reason d’être is providing equipment that allows individuals on the front line to be able to transmit information back to decision makers while still being at a very safe and discrete distance,” Chamberlain said.
Minister of International Development Karina Gould, Burlington Mayor Marianne Meed Ward, and Robert Kelly of Lockheed Martin toured the lab as part of the official investment announcement Wednesday.