Mynaric AG

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

Nachricht vom 22.01.2018 | 09:00

Mynaric reports on successful development progress of smallsat laser communication product

DGAP-News: Mynaric AG / Key word(s): Market launch

22.01.2018 / 09:00
The issuer is solely responsible for the content of this announcement.

Mynaric reports on successful development progress of smallsat laser communication product

- Mynaric on track to complete qualification unit of smallsat product in early 2019
- First electronic components will be launched on a satellite in first half of 2018

Munich, 22 January 2018 - Mynaric has progressed through a crucial development milestone and is on track to complete the qualification unit of its smallsat laser communication product in early 2019, paving the way for serial production thereafter. The laser communication space terminal currently in development is designed for upcoming satellite mega-constellations in low-Earth orbit (LEO).

Several well-known corporations in the industry are currently pursuing mega-constellations consisting of hundreds of satellites to bring unprecedented high-speed connectivity to regions that are not sufficiently connected at present. Dr. Markus Knapek, Member of the Management Board, stated: "Most of these corporations have identified the value of laser communication to significantly increase the data capacity of their constellations and, therefore, the Return on Investment. We know that laser communication will be an essential ingredient of many of these systems." Several test satellites of mega-constellations are scheduled for launch in early 2018, according to industry news.

Mynaric's space terminal is designed for inter-satellite links spanning thousands of kilometers between small satellites and will be able to transmit bidirectional data at 10 Gbps (Gigabit per second). Mike Soutullo, a space industry veteran with more than 35 years of experience and various prestigious NASA awards, is leading the smallsat terminal development and commented: "Mynaric's extensive heritage with airborne laser terminals proved to be invaluable in expediting progress during early development since our subsystems proved compatible with stratospheric temperatures and vibrations. We are now able to focus our energy on improving size, weight, and power margins while bringing the best value to our customers."

While the development of the full terminal is still ongoing, first electronic components will be launched on a customer satellite in the first half of 2018. It will be the first time components delivered by Mynaric will leave the atmosphere and enter orbit. Dr. Wolfram Peschko, CEO of Mynaric, said: "With our successful IPO in October 2017 and more than EUR27M of proceeds providing financial backing, we are able to transfer our vast experience in laser communication and heritage from the German Aerospace Center to the market for small satellites, just as planned. This positions us as a key supplier for this exciting growth market."

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:

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.

Jan Hutterer
Kirchhoff Consult AG
+49 40 609 186 65
Mynaric AG
Friedrichshafener Str. 3
82205 Gilching

22.01.2018 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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