Lockheed Martin Awards $3 Million to University of Maryland

Date : 09/04/2019 @ 11:09PM
Source : PR Newswire (US)
Stock : Lockheed Martin Corp (LMT)
Quote : 393.88  0.33 (0.08%) @ 2:39PM

Lockheed Martin Awards $3 Million to University of Maryland

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COLLEGE PARK, Md., Sept. 4, 2019 /PRNewswire/ -- Bethesda-based Lockheed Martin (NYSE: LMT) today signed a $3 million charitable commitment to the University of Maryland A. James Clark School of Engineering.

The three-year contribution will fund vertical takeoff and landing research conducted at the university's rotorcraft lab, and high-speed flight experiments up to Mach 8, or 6,000 mph, at the school's hypersonic wind tunnel. It will also underwrite programs overseen by the Clark School's Center for Minorities in Science and Engineering that aim to increase the enrollment of women and under-represented minorities in Science, Technology, Engineering and Math (STEM) disciplines.

"For 75 years, Lockheed Martin has played a significant role in the storied history of the A. James Clark School of Engineering, and we are proud to continue our relationship as the recipient of Lockheed Martin's largest gift of the year to any institution," said Darryll J. Pines, Clark School Dean and Farvardin Professor. "This generous gift will empower Clark School students and faculty to remain at the forefront of innovation in aerospace technology, and to advance our commitment to a diverse and inclusive engineering community."

Since 2010, Lockheed Martin has funded more than $19 million in research and philanthropy at the University of Maryland. The $3 million contribution announced today is in addition to that investment. 

"Lockheed Martin has partnered with the University of Maryland for more than seven decades, and we are proud to continue that successful relationship with this contribution supporting aerospace innovation," said Lockheed Martin Chief Technology Officer Keoki Jackson. "We expect to hire 50,000 STEM professionals over the next decade, and together we will inspire the next generation of engineers to join us in creating breathtaking generation-after-next technology."

Earlier this year, Lockheed Martin awarded scholarships to nine University of Maryland students pursuing majors in engineering or computer science as part of its new STEM Scholarship Program. The students will receive up to $40,000 in total scholarship funding, or $10,000 per school year, from Lockheed Martin, and they are eligible for paid Lockheed Martin internships.

Lockheed Martin's partnership with the University of Maryland dates back to 1944 when Glenn L. Martin funded four buildings, including the Glenn L. Martin Wind Tunnel and Glenn L. Martin Hall. Today, Lockheed Martin employs over 600 University of Maryland graduates holding nearly 700 degrees, and it has a formal collaboration agreement in place with the school to research, develop and design advanced technology systems, products and services.

About the University of Maryland A. James Clark School of Engineering                            
The A. James Clark School of Engineering is the engineering college of the University of Maryland, College Park. The school consists of fourteen buildings on the College Park campus and covers over 750,000 square feet and is home to eight different departments. The departments include Aerospace engineering, Bioengineering, Chemical and Biomolecular engineering, Civil and Environmental engineering, Electrical and Computer engineering, Fire Protection engineering, Materials Science and engineering, and Mechanical engineering.

About Lockheed Martin                                                                                              
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 105,000 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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SOURCE Lockheed Martin

Copyright 2019 PR Newswire

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