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DGAP-News: Mynaric receives multi-million Euro space contract


DGAP-News: Mynaric AG / Key word(s): Incoming Orders
Mynaric receives multi-million Euro space contract

14.01.2020 / 08:28
The issuer is solely responsible for the content of this announcement.


  • Mynaric announces contract in the mid-seven figure Euro-range from space customer
  • Contract further proof of Mynaric's prime position in aerospace connectivity market
  • Further details to be released in due course


Munich, January 14, 2020 - Mynaric (Frankfurt Stock Exchange: M0Y, ISIN: DE000A0JCY11) has announced today a multi-million Euro contract in the mid-seven digits from a space customer.

The nature of today's contract means little can be announced immediately but further details will be made public by Mynaric at a later date.


Today's announcement demonstrates strong traction for Mynaric's laser communication products with this second significant space contract coming so soon after an initial contract - with a different customer - in October 2019. The news clearly indicates that the aerospace connectivity market is moving towards adoption of affordable laser communication, and Mynaric strongly expects that, during this year, a watershed in the adoption of laser communication for connectivity in space will take place.


With this contract, Mynaric also secures the potential for additional business with the same customer in the coming years.


"This contract again underlines that our efforts to make laser communication affordable and readily available are starting to bear fruit right now. We believe that this multi-year engagement will bring with it significant market potential for sustained growth over the coming years.


That we have signed yet another space customer within just three months of our previous space contract once again highlights Mynaric's primacy in the market. It also supports our strong belief that 2020 is going to see the inflection point for laser communication in space as we anticipate additional trailblazing contracts and strategic partnerships."
Bulent Altan, Member of the Mynaric Executive Board

 

About Mynaric
Mynaric is a manufacturer of laser communication technologies used to enable communication and surveillance applications in air and space. Its wireless 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.

For more information see: www.mynaric.com


Contact
e comms@mynaric.com
t + 49 8105 7999-117 (English press)
t + 49 8105 7999-128 (German press)


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.



14.01.2020 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.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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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: 952755

 
End of News DGAP News Service

952755  14.01.2020 

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