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Mynaric ramps up production rate for optical communications terminals amid market uptick

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DGAP-News: Mynaric AG / Key word(s): Expansion
07.09.2021 / 13:55
The issuer is solely responsible for the content of this announcement.

New Production Leader Named in United States

MUNICH and LOS ANGELES, September 7, 2021 - Mynaric, a pioneer in the laser communication industry, is ramping up its production rate due to the industry-wide agreement that optical communications terminals (OCTs) are key to the future of satellite data transmission. Laser communication capabilities were a key theme at the recent 36th Space Symposium and will be at SATELLITE 2021 starting today.

"We understand the importance of existing production capabilities for our partners and customers," said Bulent Altan, Chief Executive Officer of Mynaric. "Seeing the spreading conviction that the industrial age of laser communications is finally here, we are proud to lead the field and increase production at our first, operational serial production facility. It is this initial production that helps us to optimize our products, processes and supply chain early on to support sustained and reliable production ramp up for the years to come."

During the first half of 2021, Mynaric expanded its production capabilities with the June 2021 opening of its first serial production facility for optical communications terminals. "We not only have operational assembly lines, but have already increased the production rate across our product portfolio," said Tina Ghataore, Chief Commercial Officer of Mynaric. "Our first mover advantage and insourcing strategy for critical components is starting to pay off. It already allows us to hit high double-digit annual production rates today and we are well on track for triple-digit production for 2022 to meet the market demand across both commercial and government customers."

Mynaric continues to invest in the required machinery, personnel and processes to achieve sustained production ramp-up. The company is targeting a production capacity of up to 2,000 units per year in its first serial production facility - a pathfinder for production processes and technologies, including critical optical components that have been insourced.

Mynaric, additionally, is committed to develop and produce critical electronic components in its California facilities to address the needs of specific US-based customers, particularly from the government market. The duality of Mynaric's approach to production serves national security interests and risk reduction purposes, as well as to add capacity to cover expected market demand.

As part of its production push Mynaric also announced the addition of Juan Carlos Lopez as VP of Production and Test to its team. Lopez will lead the production facility in the United States after spending 13 years at SpaceX, as the Director of Avionics Production and Test where he built his department from zero to over 400 people covering avionics assembly, wire harness production, space acceptance and qualification testing and integration.
 

About Mynaric

Mynaric (M0Y, DE000A0JCY11) produces the optical fiber for the skies and, as a pioneer of laser communication, enables extremely fast and secure wireless data transmission between aircraft, drones and satellites. Globally, the need for fast and ubiquitous network connectivity is advancing inexorably. Data networks such as the internet are now largely based on infrastructure on the ground which cannot be expanded arbitrarily for legal, economic or logistical reasons. The future, therefore, calls for an expansion of the existing network infrastructure into air and space. Mynaric provides laser communication products to establish the necessary data highways for telecommunication constellations in air and space. For more information, visit mynaric.com.

# # #


07.09.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Mynaric AG

Dornierstr. 19

82205 Gilching

Germany

Phone:

+49 8105 7999 0

E-mail:

comms@mynaric.com

Internet:

www.mynaric.com

ISIN:

DE000A0JCY11

WKN:

A0JCY1

Indices:

Scale 30

Listed:

Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1231702


 

End of News

DGAP News Service

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