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DGAP-News: Mynaric AG
/ Key word(s): Incoming Orders
Mynaric signs multi-million dollar deal with SpaceLink
12.08.2021 / 15:01
The issuer is solely responsible for the content of this announcement.
Laser communication products enhance satellite relay service
WASHINGTON, D.C., August 12, 2021 - Mynaric and SpaceLink today announced the signature of a definitive agreement on the sale of optical inter-satellite link (OISL) terminals for satellites in Medium Earth Orbit (MEO) with a total order volume of up to $28 million depending on exercised options and SpaceLink's satellite prime selection. Mynaric expects to ship SpaceLink's first units during the first quarter of 2023. The deal includes mutually agreed upon milestone payments leading up to initial delivery.
"The final details of this agreement are just the beginning of a strategic partnership designed to bring fast, highly secure and continuous communications between spacecraft and the ground. Our industrialized approach to production will allow us to meet the expanded needs as SpaceLink's constellation grows," said Tina Ghataore, president, Mynaric USA and Chief Commercial Officer, Mynaric.
The agreement follows the framework previously announced, that also includes potential follow-up orders and further collaboration between the two companies. In addition to today's announcement, Mynaric is expected to provide SpaceLink Low Earth Orbit (LEO) optical communication terminals (OCT) for SpaceLink customers. These terminals would interface with the SpaceLink MEO data relay service. Both agreements significantly strengthen the relationship between the two aerospace organizations to mutual benefit.
About SpaceLink
SpaceLink is building an information superhighway for the space economy that will help advance humanity to a new age of space commerce, exploration, environmental awareness, and security. The Always in SightTM data relay system provides global coverage to empower space system operators to maximize use of their assets. SpaceLink Corporation is headquartered in the Washington DC area and has offices in Silicon Valley, California. It is a wholly owned subsidiary of Electro Optic Systems Holdings Limited, a public company traded on the Australian stock exchange.
About Mynaric
Mynaric (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.
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12.08.2021 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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