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0AR9 Mynaric Ag

51.50
0.00 (0.00%)
12 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Mynaric Ag LSE:0AR9 London Ordinary Share DE000A31C305 MYNARIC ORD SHS
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 51.50 74 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Offices-holdng Companies,nec 6.8M -73.78M -13.0173 -1.50 110.81M

Mynaric selected by Northrop Grumman as strategic supplier for laser communication

01/11/2021 12:15pm

PR Newswire (US)


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LOS ANGELES, Nov. 1, 2021 /PRNewswire/ -- Mynaric has signed a multi-year, strategic agreement with Northrop Grumman that identifies the company as a strategic supplier for laser communications in the space domain.

Mynaric 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. (PRNewsfoto/Mynaric)

"The U.S. government is the driving force to deploy laser communication capabilities in space," said Bulent Altan, CEO of Mynaric. "We are happy to have been selected as a strategic supplier by Northrop Grumman to pursue ongoing and upcoming programs in this important market segment and look forward to jointly providing secure and broadband communication to serve the U.S. government's needs for distributed communication architectures."

Earlier this year Mynaric submitted bids with a combined value in the mid-double digit million USD range to Northrop Grumman in the framework of multiple government space programs that are still pending contract awards by the U.S. government. Separately, Northrop Grumman will issue a purchase order for a set of CONDOR Mk3 terminals to kick-start the new relationship.

The agreement provides Northrop Grumman assured and preferred access to Mynaric products and services. It also foresees that Mynaric and Northrop Grumman will jointly develop and offer laser communication solutions tailored to the unique needs of specific U.S. government space programs. Mynaric will exclusively develop and sell custom products to Northrop Grumman for this specific market segment.

"Laser communication is becoming a strategic must-have for a wide array of government programs, particularly as Joint All-Domain Command and Control (JADC2) capabilities are expanded to an increasing number of connected platforms and as cybersecurity threats increase," said Dr. Robert Fleming, Sector Vice President, Strategy and Business Development, Northrop Grumman Space Systems. "We look forward to partnering with Mynaric to provide cost-effective solutions to our customers to deploy laser communication capabilities at scale."

Mynaric and Northrop Grumman signed the agreement upon a shared interest in accelerating the growth, development, adoption and innovation of laser communication solutions primarily for aerospace and defense applications, including air, space, ground, maritime, and undersea with a near-term emphasis on the space arena for the U.S. government's needs and missions.

The agreement foresees business of a minimum value of Mynaric products and/or related services of at least USD 35 million over the agreement term.

About Mynaric

Mynaric (Frankfurt Stock Exchange: M0Y, ISIN: 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.

More information at: www.mynaric.com

FORWARD-LOOKING STATEMENTS

This announcement contains forward-looking statements. Words such as "anticipate," "foresee," "believe," "estimate," "expect," "intend," "could," "may," "might," "plan," "potential," "should," "target," "would" and variations of such words and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on the information available to, and the expectations and assumptions deemed reasonable by Mynaric at the time these statements were made. No assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Mynaric. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. Mynaric expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Mynaric's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

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SOURCE Mynaric

Copyright 2021 PR Newswire

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