ARCHBALD, Pa., June 12, 2013 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) and State Nuclear Power Automation System Engineering Company (SNPAS) have signed an agreement to prototype, manufacture and qualify nuclear power plant reactor protection systems for China's Generation III reactors. SNPAS is a subsidiary of China's State Nuclear Power Technology Corporation (SNPTC).
Lockheed Martin and SNPAS will develop a nuclear safety instrumentation and control platform, based on field programmable gate array (FPGA) technology, for a new generation of Reactor Protection Systems in China. Terms of the agreement were not disclosed.
"We recognize the importance of nuclear power as a critical energy alternative for increased demand and have been developing instrumentation and control systems for more than 55 years," said Jim Gribschaw, general manager of nuclear systems and solutions at Lockheed Martin. "We are committed to creating and implementing industry-specific solutions for civilian nuclear power plants, ensuring the safety of critical power generating infrastructure."
"Nuclear safety is the most critical requirement for civilian nuclear power plants. SNPAS is dedicated to developing safe and reliable, advanced instrumentation and control solutions in order to meet China's demand for safe and efficient development of nuclear power," said Qiu Shaoyang, general manager of SNPAS. "We believe that the cooperation between SNPAS and Lockheed Martin will provide safer and more secure technical solutions and equipment for nuclear power plants worldwide."The unique FPGA-based platform will specifically address safety and regulatory concerns related to software common-cause failures in digital nuclear safety systems. These systems will autonomously and reliably monitor and detect potential failures in the system, ensuring the safe operation and function of the facility. The platform may be applied both in new plant deployment and in safety system upgrades for existing power plants.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts