Mynaric AG

  • WKN: A0JCY1
  • ISIN: DE000A0JCY11
  • Land: Deutschland

Nachricht vom 17.08.2020 | 08:50

Mynaric appoints aerospace and communications industry veteran Tina Ghataore to lead Mynaric USA

DGAP-News: Mynaric AG / Key word(s): Personnel/Expansion
17.08.2020 / 08:50
The issuer is solely responsible for the content of this announcement.

  • Tina Ghataore appointed President of Mynaric USA, joins from satellite connectivity leader Yahsat
  • Mynaric USA invests in extended premises in the heart of the West Coast aerospace community addressing domestic customer needs

Munich, August 17, 2020 - Mynaric (Frankfurt Stock Exchange: M0Y, ISIN: DE000A0JCY11) has announced that Tina Ghataore has been appointed company president of its US-branch Mynaric USA. Tina joins Mynaric USA from Yahsat, a Mubadala company, where she was spearheading the expansion of their satellite communication services business into the mobility communications sector, as the Executive Vice President for Inflight Connectivity.

An aerospace industry veteran with 20 years' experience in airborne and satellite communication and connectivity, Tina's career has taken in senior roles at Yahsat, Panasonic Avionics, The Boeing Company and she has helped shape connectivity strategies at Airbus and Thales, as well as new space satellite start-ups. Mynaric will capitalize on Tina's proven breadth of experience in building and launching products and services in the communication services sector on a global market scale.

"I am delighted to be joining Bulent and the rest of the team at Mynaric. It is a hugely exciting time for Mynaric USA as the company accelerates its growth and works to position itself as the leading supplier for laser communication products for space and airborne applications across both government and commercial markets in North America."
Tina Ghataore, President, Mynaric USA

Tina will take over operational responsibility of Mynaric's US-activities and allow CEO Bulent Altan to spread his time evenly between the US branch and German HQ. One of Tina's key tasks will be to lead the go to market initiatives for the North American market, ensuring alignment with customer requirements across the various target market verticals.

Mynaric's flagship HAWK AIR and CONDOR laser communication products are in their final stages of qualification and testing, and the company is organizing to support the deployment of first units to key customers. Mynaric USA's expansion is part of its preparation to enter this next market phase of industrializing laser communication technology. It is also part of Mynaric's global strategy to sharpen its international profile to exclusively serve countries that are aligned with the national security interest of its core markets. This commitment is important given the strategic relevance of laser communication technology and ensures that Mynaric's products can be placed even within the most strategic communication networks.

Mynaric USA plans to directly address sales, support, development and domestic production of its laser communications products for North American customers directly from US territory - a key requirement for certain customer opportunities. Mynaric USA will continue its growth by moving to new and expanded premises within the next few weeks. The US team will be based in Hawthorne, Los Angeles, where the new facilities will accommodate Mynaric USA's growing workforce as well as establish lab facilities to demonstrate, qualify, modify and maintain Mynaric's laser communication products.

"Activity at our Los Angeles location is expanding rapidly and there is real momentum. To win someone of Tina's standing within the satellite and aerospace connectivity community is a great accomplishment for Mynaric. Also, the new premises are a major step in growing Mynaric USA to provide key capabilities for North American customers on home turf."
Bulent Altan, CEO, Mynaric

North America is the leading location for the development of mega-constellations through commercial programs such as SpaceX's Starlink, Amazon's Kuiper and Telesat's LEO constellation as well as governmental programs such as DARPA's Blackjack and SDA's National Defense Space Architecture. North America is also a leading market for advanced payload capabilities of unmanned aerial systems (UAS), a market with a strategic need for the secure and broadband communications offered by laser communication. Mynaric offers products for both markets with its CONDOR and HAWK AIR terminals both of which are making their market debut in 2020.

About Mynaric

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.

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Important information

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.

17.08.2020 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.

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