BETHESDA, Md., June 21, 2016 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) has appointed J. Christopher Moran to fill the newly-created role of executive director and general manager of Lockheed Martin Ventures, effective today.

In this role, Moran will oversee all facets of the Corporation's venture capital fund including strategy creation, pipeline development and management, transaction execution and investment tracking and reporting. Lockheed Martin Ventures is chartered to make strategic investments in promising, privately-held companies.  It invests in technology innovations that could drive growth in existing, adjacent and new markets for Lockheed Martin. 

"Chris' deep technology background will elevate our capital deployment strategies and focus our investments in companies that are developing cutting edge technologies that complement our existing innovation efforts," said Greg Psihas, vice president of Corporate Development. "With his guidance, we will work with other leading investors to identify, make and manage financially attractive investments that support Lockheed Martin's strategic objectives. Our investments will typically range from $1 million to $5 million early in the funding process and focus on companies creating disruptive technologies that advance our core capabilities."

Moran has a strong background in engineering and technology having spent the last 35 years in Silicon Valley working in senior executive roles at Applied Materials including eight years as general manager of Applied Ventures, and in earlier roles at Atari and Hughes Aircraft. Moran holds both a bachelor's degree and master's degree in mechanical engineering from Massachusetts Institute of Technology.

Lockheed Martin Venture's involvement with companies may include taking a leadership role, through board or observer seats, providing access to Lockheed Martin's engineering staff, technologies and research, or facilitating access to the company's global business relationships and supply chain.

"Strategic investing is not new to Lockheed Martin as we have provided funding to early stage companies for the past several years," said Psihas. "The corporation has invested more than $100 million over the last nine years in 22 venture stage companies, including companies spun out of university research programs as well as out of Lockheed Martin."

Company proposals can be submitted for consideration at lockheedmartin.com/ventures.

About Lockheed Martin

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 125,000 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