DGAP-News: Mynaric AG / Key word(s): Half Year Results
The report also highlights developments in the aerospace connectivity market since the start of year and details a market that is further expanding as government and defense actors change their procurement processes to avail themselves of affordable and serially produced commercial products and solutions. Mynaric has very recently been selected as a vendor as part of a US governmental program and expects more to follow in the coming months.
"Today's report shows a company working at 110% to get our CONDOR and HAWK AIR products into our customers' hands in the timeframes we have set ourselves. Both products are going through a validation regime that is pushing them to their very limits as we want these key elements of our customers' systems to not only meet expectations but exceed them. It has been hard work, especially in the face of a global pandemic, but we have - as a company - outperformed in the reporting period and will continue to do so.
We consider the recent selection to provide products as part of a US governmental program as a major confirmation of our efforts. It is proof that customers trust in the capabilities of our products. It is proof that the significant US governmental market is open to business for us. And it is proof that we are close to the inflection point we have been preparing ourselves for years: the start of the industrial age of laser communications."
Mynaric is a manufacturer of laser communication technologies used to enable communication and surveillance applications in air and space. Its laser data transmission products include ground and flight terminals, which allow very large quantities of data to be sent wirelessly and securely over long distances between aircraft, autonomous drones, high-altitude platforms, satellites and the ground.
Globally, the need for fast and secure connectivity is advancing inexorably. Data networks are today largely based on infrastructure on the ground, which cannot be expanded arbitrarily for legal, economic or practical reasons. The future therefore calls for an expansion of the existing network infrastructure into air and space. With its wireless laser communication products Mynaric is positioned as a prime pioneer in this growth market.
Some of the information in this announcement may contain projections or other forward-looking statements regarding future events or the future financial performance of the Company. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," or, in each case, the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with our industry, as well as many other risks specifically related to the Company and its operations.
|Phone:||+49 8105 7999 0|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1130879|
|End of News||DGAP News Service|