Information  X 
Enter a valid email address
  Print      Mail a friend       More announcements

Monday 23 September, 2019

Mynaric AG

Mynaric announces relocation of US headquarters to Los Angeles and reveals expansion plans

DGAP-News: Mynaric AG / Key word(s): Strategic Company Decision
Mynaric announces relocation of US headquarters to Los Angeles and reveals expansion plans

23.09.2019 / 12:08
The issuer is solely responsible for the content of this announcement.


  • Uptick in interest in Mynaric's cost-efficient laser communication products has prompted move to Los Angeles
  • Bulent Altan will head new US office and divide time between Germany and US strengthening the Mynaric brand on both sides of the Atlantic
  • Expansion plans in US include building engineering and production capabilities to allow for US-only solutions as required by customers
 

Munich, September 23, 2019 - Mynaric (Frankfurt Stock Exchange: M0Y, ISIN: DE000A0JCY11) can announce today that it has relocated its North American headquarters to Los Angeles to be placed physically closer to growing interest in its cost-efficient and high-performance laser communication products from key US customers, especially in the satellite constellation domain.
 

Bulent Altan, who joined Mynaric in March 2019 after 12 years at SpaceX, will personally lead the relocated US operation and at the same time remain an Executive Board member of Mynaric.
 

"The decision to relocate to Los Angeles is based not only on the potential market for laser communication products needed by large US constellation-builders - many of whom have offices on the West coast - but also on California's record in attracting and retaining the world-class talent we require to complement the excellent team we have built in Germany.
 

It is critically important to us to maintain close relationships with existing and prospective customers and understand their needs and concerns which can be only addressed by US-only solutions. As such, I am excited to be spending more time in LA to build up such capabilities."
Bulent Altan, member of the Mynaric Executive Board
 

The company's move is the precursor to an expansion plan for the United States in 2020 that will be implemented as Mynaric's airborne and space laser communication products become qualified and available to customers in the next few months. One of the key tasks ahead of the newly-headquartered team will be developing electronics and software sourced solely from within the US; a key consideration for many US companies and organizations wanting to deploy laser communication solutions operationally at large scale.
 

"Today, Mynaric has more space-grade laser communication units in production schedule than have ever been launched by all of our commercial competitors combined to our knowledge, so we are definitively pushing the envelope. We are expecting nothing short of a feeding frenzy for lasercom capabilities in 2020 and today's announcement is key to preparing for just that."
Bulent Altan
 

Mynaric USA was established as an independent subsidiary in 2017 and has, since that time, established strong relationships with the largest aerospace players in the country both in established and in New Space.

 

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 stations 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 [email protected]
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.



23.09.2019 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.
Archive at www.dgap.de


Language: English
Company: Mynaric AG
Dornierstr. 19
82205 Gilching
Germany
Phone: +49 8105 7999 0
E-mail: [email protected]
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: 877993

 
End of News DGAP News Service

877993  23.09.2019 

fncls.ssp?fn=show_t_gif&application_id=877993&application_name=news&site_id=financialexpress

a d v e r t i s e m e n t