6/11/19 Lockheed Martin Ventures invests in 3D GlassSolutions - Albuquerque Business First

Lockheed Martin Ventures invests in growing ABQ manufacturer

Lockheed Martin is taking a bet on expanding local manufacturer 3D Glass Solutions with an undisclosed amount of investment as part of the company's Series B funding round.

Officials from Lockheed and 3D Glass confirmed the deal, but were unavailable to give immediate details.

"Lockheed Martin Ventures, the investment arm of Lockheed Martin, strategically invests in companies developing cutting-edge technologies within our existing businesses and new industries," said Lockheed Martin Ventures General Manager Chris Moran in a prepared statement. Lockheed is hopeful 3D Glass's capabilities could be used for meeting the size, weight and power demands of Lockheed's various technologies, he added.

3D Glass Solutions was founded in 2008 and offers a variety of technologies, such as heatresistant electronics casings and micro-printed circuit boards. It provides glass-based solutions to the medical, aerospace and defense, wireless infrastructure, automotive radar and photonics industries.

3D Glass has worked closely with the state on ambitious expansion goals, including plans announced in October to create up to 139 jobs and invest $23 million over five years. The company reportedly employed 15 at the time. In April, it received funding from the Job Training Incentive Program for two additional positions. The average salary at the company is $60,000, officials have said.

Since 2007, Lockheed Martin Ventures has invested over $100 million in startup companies, and announced a $100 million fund increase last year. It differs from other venture capital firms by focusing on access to technologies at a later time, Defense One reports, instead of a quick financial gain. Lockheed Martin, headquartered in Bethesda, Maryland, is a global security and aerospace company that employs over 100,000.

Mark Popovich, named CEO of 3D Glass in 2017, was unavailable for comment.