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- Mynaric reveals unparalleled laser communication product range for space, air and ground
- Seeks to establish itself as front-running laser communication player on both sides of the Atlantic, with expansion and increased production planned for Europe and North America
- Publication details relentless pace of corporate and product activity in reporting period
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Munich, October 31, 2019 – Mynaric (Frankfurt Stock Exchange: M0Y, ISIN: DE000A0JCY11) has reported on the company’s activity in the first six months of 2019 and used the publication of today’s half-year report to unveil its full portfolio of laser communication products for all three key aerospace market segments. In offering connectivity solutions for space, air and the ground, Mynaric now becomes the only company globally to offer such a breadth of market-ready laser communication products.
The product line-up revealed today, and which is born out of Mynaric’s 10 years’ developmental activity – itself grounded on decades’ worth of experience from the German Aerospace Center (DLR) – includes: the CONDOR flight terminal for space applications, the HAWK SPACE and HAWK AIR flight terminals, and the RHINO and ARMADILLIO ground terminals.
“Today’s report comes at the pivotal moment in our history: the balance of Mynaric shifts from development to production. Ten years of highly challenging and demanding development work has led us to this decisive moment where we now stand as industry front-runners with an unparalleled product range producing hitherto unheard-of numbers of units. The business strategy that we have slavishly pursued in the last decade is now proving its worth.”
- Wolfram Peschko, Member of the Mynaric Executive Board
Also covered in today’s report is an overview of the frenetic activity in the aerospace connectivity market, which is mostly being driven by the key North American market. Mynaric recently relocated its US headquarters to Los Angeles in order to tap the large pool of world-class talent in the region and physically move closer to growing interest in its cost-efficient and high-performance laser communication products from key US customers.
Mynaric is currently in the final phases of pre-production, the last step before it can start to deliver first airborne products to customers from the end of this year. Space products will become available to customers through 2020. In this transition phase, with air and space products still in development in H1 2019 and not yet available for sale, Mynaric reported total output of EUR 2.9m in H1 2019 slightly above the previous year’s figures (EUR 2.8m in H1 2018).
"I am excited about the fact that finally our full product portfolio is on the brink of becoming available to the market. The satellite customer contract that we have recently announced gives a good sense of what we are aiming for in the next few months. Mynaric currently has over 30 units in production cycle with a view to being able to support multiple customer missions of airborne and space customers in 2020. Given the numbers we expect the market to require, we are currently strongly considering going for higher unit numbers."
- Bulent Altan, Member of the Mynaric Executive Board
Earlier this month, Mynaric announced the industry’s first deal for the delivery of laser terminals suitable for emerging satellite constellations. With this initial contract to supply multiple units to a customer secured, Mynaric is currently assessing additional market demand that goes beyond what has been anticipated to date and which would justify increasing the production schedule for 2020. Depending on the outcome of this assessment and other aspects, Mynaric is considering various options to support its expansion and production plans, including strategic partnerships with or without related equity deals, structured debt products, and equity financing with interested mid- and long-term investors seeking exposure to the growing constellation market.
Mynaric’s expansion plans for 2020 also include a push to expand its US activities, including the development of US-sourced electronics: a key consideration for many US companies and organizations wanting to deploy laser communication solutions operationally at large scale.
Today’s report can be downloaded here: https://mynaric.com/investor-relations/publications/
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About Mynaric
Mynaric is a manufacturer of laser communication technologies used to establish dynamic communication networks in air and space. Its wireless laser data transmission products include ground stations and flight terminals, which allow very large quantities of data to be sent wirelessly over long distances between aircrafts, autonomous drones, high altitude platforms, satellites and the ground at high data rates.
Globally, the need for fast and ubiquitous network connectivity is advancing inexorably. Data networks are today 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. With its wireless laser communication products Mynaric is positioned as a prime pioneer in this growth market.
For more information see: www.mynaric.com
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t +49 8105 7999 128 (German press)
t +49 8105 7999 117 (English press)
e comms@mynaric.com
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Mynaric AG
Dornier Str. 19
82205 Gilching, Germany
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