Lockheed invests in Rocket Lab's U.S. unit to keep pace with innovation

March 2, 2015 5:53 PM

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WASHINGTON (Reuters) - Lockheed Martin Corp said on Monday it had made a strategic investment in the U.S. unit of New Zealand's Rocket Lab, which is building a carbon-composite rocket, the Electron, to launch small satellites into orbit for less than $5 million.

Lockheed spokesman Matt Kramer didn't say how big the investment was, but said the company saw potential applications for Rocket Lab's technologies light lift, hypersonic flight technologies and low-cost flight testing.

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