Latest news with #JoachimHorwath
Yahoo
4 days ago
- Business
- Yahoo
Mynaric Advances Laser Communications with Product Deliveries and Technology Milestones
MUNICH, DE / / June 5, 2025 / Mynaric, a leading provider of industrialized, cost-effective, and scalable laser communications products, today announced significant customer deliveries of its CONDOR Mk3 optical communications terminals and major progress in the technical development of the next-generation CONDOR Mk3.1 terminal. "Mynaric continues to execute on its commitments and advance the market for space-based optical communications. As of today, we have delivered more than 100 CONDOR Mk3 terminals to our customers, including the first complete launch set to a prime customer for Tranche 1 of the Space Development Agency's (SDA) Proliferated Warfighter Space Architecture program," said Joachim Horwath, Chief Technology Officer of Mynaric. "In parallel, we are advancing the design of the space-qualified CONDOR Mk3.1 terminal, which is slated to support the SDA's Tranche 2 program, as well as a range of commercial applications." Building on the flight-ready architecture of the Mk3, the CONDOR Mk3.1 terminal is being developed with a focus on higher data rates and enhanced efficiency. Targeting up to 100 Gbps, it offers improved performance while reducing weight and power consumption - making it ideally suited for both government and commercial satellite constellations. "At Mynaric, we work hand-in-hand with our customers to shape the future of laser communications," said Tim Deaver, Mynaric's Vice President of Global Sales & Solutions. "Our next-generation products, like the CONDOR Mk3.1, are a direct result of ongoing collaboration with industry partners and a deep understanding of evolving mission requirements. By listening closely to customer feedback and anticipating market needs, we're able to deliver solutions that are not only technically advanced but also operationally relevant." This customer-driven approach is supported by a scalable production line that continues to expand. In parallel with these deliveries, Mynaric has ramped up volume production of the CONDOR Mk3 terminal, manufacturing more than 150 optical heads to date. While shipments were delayed in January 2025 due to supplier-related shortages of key components, the company rebounded strongly in the first half of the year, achieving triple-digit yields - underscoring its ability to scale industrialized manufacturing for space-based laser communications. "With the court confirming our restructuring plan and the StaRUG process entering its final stage, Mynaric is now focused on accelerating the deployment of next-generation optical communications technology, enhancing profitability, and ensuring long-term financial stability," said Andreas Reif, Chief Restructuring Officer of Mynaric. About Mynaric Mynaric (FRA:M0YN)(OTC PINK:MYNAY) is leading the industrial revolution of laser communications by producing optical communications terminals for air, space and mobile applications. Laser communication networks provide connectivity from the sky, allowing for ultra-high data rates and secure, long-distance data transmission between moving objects for wireless terrestrial, mobility, airborne- and space-based applications. The company is headquartered in Munich, Germany, with additional operations in Los Angeles, California. For more information, visit Mynaric AG+49 8105 7999 0comms@ SOURCE: Mynaric AG View the original press release on ACCESS Newswire Sign in to access your portfolio
Associated Press
4 days ago
- Business
- Associated Press
Mynaric Advances Laser Communications with Product Deliveries and Technology Milestones
MUNICH, DE / ACCESS Newswire / June 5, 2025 / Mynaric, a leading provider of industrialized, cost-effective, and scalable laser communications products, today announced significant customer deliveries of its CONDOR Mk3 optical communications terminals and major progress in the technical development of the next-generation CONDOR Mk3.1 terminal. 'Mynaric continues to execute on its commitments and advance the market for space-based optical communications. As of today, we have delivered more than 100 CONDOR Mk3 terminals to our customers, including the first complete launch set to a prime customer for Tranche 1 of the Space Development Agency's (SDA) Proliferated Warfighter Space Architecture program,' said Joachim Horwath, Chief Technology Officer of Mynaric. 'In parallel, we are advancing the design of the space-qualified CONDOR Mk3.1 terminal, which is slated to support the SDA's Tranche 2 program, as well as a range of commercial applications.' Building on the flight-ready architecture of the Mk3, the CONDOR Mk3.1 terminal is being developed with a focus on higher data rates and enhanced efficiency. Targeting up to 100 Gbps, it offers improved performance while reducing weight and power consumption - making it ideally suited for both government and commercial satellite constellations. 'At Mynaric, we work hand-in-hand with our customers to shape the future of laser communications,' said Tim Deaver, Mynaric's Vice President of Global Sales & Solutions. 'Our next-generation products, like the CONDOR Mk3.1, are a direct result of ongoing collaboration with industry partners and a deep understanding of evolving mission requirements. By listening closely to customer feedback and anticipating market needs, we're able to deliver solutions that are not only technically advanced but also operationally relevant.' This customer-driven approach is supported by a scalable production line that continues to expand. In parallel with these deliveries, Mynaric has ramped up volume production of the CONDOR Mk3 terminal, manufacturing more than 150 optical heads to date. While shipments were delayed in January 2025 due to supplier-related shortages of key components, the company rebounded strongly in the first half of the year, achieving triple-digit yields - underscoring its ability to scale industrialized manufacturing for space-based laser communications. 'With the court confirming our restructuring plan and the StaRUG process entering its final stage, Mynaric is now focused on accelerating the deployment of next-generation optical communications technology, enhancing profitability, and ensuring long-term financial stability,' said Andreas Reif, Chief Restructuring Officer of Mynaric. About Mynaric Mynaric (FRA:M0YN)(OTC PINK:MYNAY) is leading the industrial revolution of laser communications by producing optical communications terminals for air, space and mobile applications. Laser communication networks provide connectivity from the sky, allowing for ultra-high data rates and secure, long-distance data transmission between moving objects for wireless terrestrial, mobility, airborne- and space-based applications. The company is headquartered in Munich, Germany, with additional operations in Los Angeles, California. For more information, visit Mynaric AG +49 8105 7999 0 [email protected] SOURCE: Mynaric AG press release
Yahoo
10-03-2025
- Business
- Yahoo
Mynaric Updates on Operational Continuity and Ongoing Production and Deliveries
Mynaric is continuing to ramp up and increase deliveries of its flagship CONDOR Mk3 StaRUG proceedings intended to place company on secure financial footing moving forward MUNICH, March 10, 2025 /PRNewswire/ -- Mynaric (NASDAQ: MYNA) (FRA: M0YN), a leading provider of industrialized, cost-effective, and scalable laser communications products, today confirms that it is continuing to ramp up production and customer deliveries of the CONDOR Mk3 optical communications terminal and updates on the background to the company's StaRUG proceedings. "We are continuing to deliver on our promise to the industry to provide scalable products that meet evolving program requirements, and drive innovation in areas such as multi-orbit constellations. To maintain our industry position, we must continue delivering to existing customers while advancing future applications of optical communications technology." - Joachim Horwath, Chief Technology Officer and founder of Mynaric The StaRUG proceedings, once completed, would provide for significant debt relief, enabling the company to continue to serve its current and potential customers, suppliers and partners. "We firmly believe that this restructuring is the best course of action for Mynaric's future. With the support and trust of our lenders, we are confident in our ability to navigate this period successfully and emerge as an even stronger and more reliable partner." - Andreas Reif, Chief Restructuring Officer of Mynaric Focus on Delivering on Existing Contracts and Winning Future Opportunities Mynaric is also continuing to pursue opportunities that explore the use of free-space optical communications for additional space programs. "Mynaric remains fully committed to delivering high-quality products to our customers throughout this process. The continued support of our lenders strengthens our financial position, enabling us to meet the needs of our current customers while expanding to support future partners seeking to deploy our industry-leading optical communication terminals." - Tim Deaver, Vice President of Global Sales & Solutions In addition to contributing to the U.S. Space Development Agency's (SDA) Proliferated Warfighter Space Architecture (PWSA) Tranche 1 and Tranche 2 programs, Mynaric has also been recognized as a key development partner in Phase 2 of DARPA's Space-BACN program, and has been selected by both the European Space Agency (ESA) to investigate optical technologies for next generation high-throughput optical inter-satellite links and the German government to contribute to multiple projects to develop quantum communication capabilities. Establishing a Stable Financial and Operational Footing Moving Forward Mynaric's lenders agreed to the restructuring concept on the condition that Mynaric initiates StaRUG proceedings and that the restructuring plan provides for a capital reduction to zero. "The aim of the StaRUG proceedings is to create a fresh start for Mynaric without affecting our operational model or manufacturing processes. By reducing the debt burden and recapitalizing the balance sheet, Mynaric can invest in high-tech advancements, maintain competitive pricing and secure our position as an industry leader." - Andreas Reif, Chief Restructuring Officer of Mynaric To enable Mynaric to cover its expected ongoing operational and working capital until the conclusion of the StaRUG proceedings, Mynaric's lenders committed a fourth bridge loan of USD 28 million in February 2025 as well as an additional USD 25 million restructuring loan, giving Mynaric the necessary resources to support its production plan and ongoing operations. The implementation of the financial restructuring through the StaRUG proceedings would safeguard jobs, protect creditor interests, and significantly reduce Mynaric's cash interest burden. About Mynaric Mynaric (NASDAQ: MYNA) (FRA: M0YN) is leading the industrial revolution of laser communications by producing optical communications terminals for air, space and mobile applications. Laser communication networks provide connectivity from the sky, allowing for ultra-high data rates and secure, long-distance data transmission between moving objects for wireless terrestrial, mobility, airborne- and space-based applications. The company is headquartered in Munich, Germany, with additional locations in Los Angeles, California, and Washington, D.C. For more information, visit Media Contact:Krista 900-9966 View original content to download multimedia: SOURCE Mynaric USA, Inc. Sign in to access your portfolio
