Lockheed Martin has reached an investment agreement with Peloton Technology to accelerate Peloton’s development and deployment of truck-platooning technology for the U.S. and international trucking industries.
Lockheed Martin is joining a $17-million invest round that was co-led by Denso International America and Intel capital. Lockheed Martin joins an investment group that includes Volvo Group Venture capital, UPS Strategic Enterprise Fund, and Castrol innoVentures.
In Europe, Volvo was involved in the testing of another platooning technology referred to as Safe Road Trains for the Environment or Project Sartre.
“Lockheed Martin is committed to partnering with Peloton and excited to be working with such a strong team of strategic investors,” said Adam Miller, new initiatives director for Lockheed Martin Missiles and Fire Control. “Our partnership is consistent with Lockheed Martin’s approach of researching and investing in disruptive and cutting-edge technologies.”
Peloton’s Truck Platooning system electronically couples pairs of trucks through a combination of vehicle-to-vehicle communications, radar-based active braking systems and vehicle-control algorithms. The pairing allows trucks to travel at closer distances to improve aerodynamics and reduce fuel use.
The Peloton Truck Platooning system’s direct communication link enables the rear truck to react automatically to acceleration or braking by the front truck nearly instantaneously, which allows tighter spacing for better fuel efficiency.
Peloton’s cloud-based network operations center monitors truck safety and approves of truck pairings only on suitable roads under appropriate weather, vehicle and traffic conditions.
To date, the Truck Platooning system has logged more than 15,000 platooning miles and has been tested in Nevada, Utah, Texas, Ohio, Florida, Alabama and Michigan, according to Peloton.