Mynaric announces business update and receives US$36 million order

This Space News was published on Mon, 21.03.2022 – 22:26 CET, covering Mynaric

As the Gilching-based company stated in an ad hoc announcement, a contract has been signed with the U.S. company Northrop Grumman for the supply of optical communications terminals.

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According to the company, the contract was concluded as part of a U.S. government space program led by the Space Development Agency. Payments are scheduled for 2022, 2023 and 2024, with the optical terminals to be delivered mainly in 2023/24. The two companies had already signed an agreement to this effect in November 2021. As a strategic supplier, Mynaric had reportedly submitted bids in the mid-double-digit millions. Independently of this, Northrop Grumman intends to order CONDOR Mk3 terminals, it said. Plans also call for developing products tailored to the special needs of specific U.S. government space programs. The importance of the U.S. market is illustrated by Bulent Altan, CEO of Mynaric: "The U.S. government is the driving force to deploy laser communication capabilities in space."

© Mynaric

Just a few days ago, Mynaric announced its intention to publish a business update on March 28, 2022. In the form of a letter to shareholders, other important information is to be announced in addition to selected key figures from the preliminary financial results. Retail and institutional investors still have until March 25 to submit their questions. Some of them - according to the company - could be answered in the upcoming update of the annual report. Also on March 28 at 18:00 CET, there is then to be a webcast to discuss FY 2021. In addition to a presentation, there is also to be a Q&A session with Mynaric executives, including CEO Bulent Altan.


via Mynaric

Header Image Credit: Free Footage
Written by M. Weissflog

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