M0Y Mynaric AG

DGAP-News: Mynaric welcomes ESA's record budget for optical communications and initiatives to strengthen European supply chain

DGAP-News: Mynaric AG / Key word(s): Statement
Mynaric welcomes ESA's record budget for optical communications and initiatives to strengthen European supply chain
18.12.2019 / 10:21
The issuer is solely responsible for the content of this announcement.


  • ESA has agreed biggest ever budget on optical communication, in excess of €500 million
  • Scylight and HydRON initiatives to support industry across the entire value chain
  • Sets out increased support to SMEs to enable market opportunities



Munich, December 18, 2019 - European Space Agency members agreed last month to the highest ever budget for the agency's next three-year program.
 

The ESA's Ministerial Council, which met to decide on new proposals and funding for the ESA under the working title Space19+, focused on several programs for the next funding period with optical communications prime among them.
 

The budget for Space19+ includes various key initiatives and puts a big emphasis on optical communications with an allocated budget for the sector as part of the Scylight and HydRON initiatives. Funds of more than €500 million have been allocated to these two key initiatives alone according to industry news.
 

The ESA has made clear its commitment to the full value chain of the European optical communications industry - from manufacturers to operators - as it aims to place Europe at the leading edge of the increasingly important global laser communications market.
 

The agency's support encompasses both the Scylight strategic program to promote Europe's work on optical communications in the commercial satellite communications domain and the HydRON project charged with developing and demonstrating, by 2025, all elements of an all optical Terabit satellite network integrated into the terrestrial network architecture to build essentially optical fiber in the sky.
 

According to the ESA, the projects will be developed in close cooperation with industry with specific attention given to supporting SMEs and their industrial competitiveness. Industry-led activities will receive more intense support from the ESA as it strives to enable market opportunities for a wide range of products and services, including optical terminals for space, air and the ground. Focus is on the development of an open competition between multiple industrial players and the display of their respective capabilities, exemplarily through in-orbit demonstrations.
 

"ESA is doing the right thing in betting big on laser communications' role in space applications. We have been stating for years that our technology will have a profound impact on the value chain and the ESA's highest-ever budget allocation for optical communication confirms this view. We are very happy to see that ESA now has the funds to support the strengthening of a strong and diversified European supply chain for laser communications in space and we look forward to continuing to lead the industrialization of this key technology."
Bulent Altan, Member of the Mynaric Executive Board

 

Notes to Editors
ESA's Ministerial Councils bring together ESA's Member States and observers every two to three years to decide on new proposals and funding for ESA's next years of work. The most recent one, called 'Space19+', was held in late November 2019. European ministers in charge of space activities gathered in Sevilla, Spain, to decide on the ESA's vision for the future of Europe in space. Optical communications initiatives will be mainly supported as part of the satellite communications program which has been defined as key area for Europe's industry.

More information at:
 

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 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:
 

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.



18.12.2019 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


Language: English
Company: Mynaric AG
Dornierstr. 19
82205 Gilching
Germany
Phone:
E-mail:
Internet:
ISIN: DE000A0JCY11
WKN: A0JCY1
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 938867

 
End of News DGAP News Service

938867  18.12.2019 

fncls.ssp?fn=show_t_gif&application_id=938867&application_name=news&site_id=research_pool
EN
18/12/2019

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Mynaric AG

 PRESS RELEASE

DGAP-News: Mynaric stellt erfahrenen Laserkommunikationsmanager Mustaf...

DGAP-News: Mynaric AG / Schlagwort(e): Personalie Mynaric stellt erfahrenen Laserkommunikationsmanager Mustafa Veziroglu als Präsident von Mynaric ein 18.08.2022 / 14:19 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Mustafa Veziroglu übernimmt die operative Verantwortung für die Entwicklung und skalierbare Produktion der Laserkommunikationsprodukte von Mynaric   MÜNCHEN und LOS ANGELES, 18. August 2022 - Mynaric, ein führendes Unternehmen in der Industrialisierung der Laserkommunikation, ernennt Mustafa Veziroglu zum Präsidenten ...

 PRESS RELEASE

DGAP-News: Mynaric hires veteran laser communications executive Mustaf...

DGAP-News: Mynaric AG / Key word(s): Personnel Mynaric hires veteran laser communications executive Mustafa Veziroglu as President of Mynaric 18.08.2022 / 14:19 CET/CEST The issuer is solely responsible for the content of this announcement. Mustafa Veziroglu assumes operational responsibilities for development and scalable production of Mynaric’s laser communications products   MUNICH and LOS ANGELES, August 18, 2022 – Mynaric, a leader in the industrial revolution of laser communications, named Mustafa Veziroglu as President of Mynaric and the newest member of its mana...

 PRESS RELEASE

DGAP-News: Mynaric Selected for Next Phase of DARPA Program

DGAP-News: Mynaric AG / Key word(s): Contract Mynaric Selected for Next Phase of DARPA Program 10.08.2022 / 16:24 CET/CEST The issuer is solely responsible for the content of this announcement. Phase 1 Goal to Develop Benchtop Model of Next-Generation Optical Communications Terminal for Proliferated Space Domain   LOS ANGELES, August 10, 2022 – has been selected as a key development partner to create a benchtop model of a next-generation optical communications terminal as part of Phase 1 of the (Space-BACN) program of the Defense Advanced Research Projects Agency (DAR...

 PRESS RELEASE

DGAP-News: Mynaric für die nächste Phase des DARPA-Programms ausgewähl...

DGAP-News: Mynaric AG / Schlagwort(e): Vertrag Mynaric für die nächste Phase des DARPA-Programms ausgewählt 10.08.2022 / 16:24 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Ziel der Phase 1 ist die Entwicklung eines Benchtop-Modells der nächsten Generation optischer Kommunikationsterminals für den erweiterten Weltraumbereich   LOS ANGELES, 10. August 2022 - wurde als wichtiger Entwicklungspartner ausgewählt, um im Rahmen von Phase 1 des Space-based Adaptive Communications Node (Space-BACN) Programms der Defense Advanced Research...

 PRESS RELEASE

DGAP-News: Mynaric Announces Participation in Upcoming Jefferies Indus...

DGAP-News: Mynaric AG / Key word(s): Conference Mynaric Announces Participation in Upcoming Jefferies Industrials Conference and Canaccord Genuity 42nd Annual Growth Conference 03.08.2022 / 08:38 The issuer is solely responsible for the content of this announcement. Munich, 3 August 2022 – Mynaric (NASDAQ: MYNA)(FRA: M0Y) today announced that management will participate in the following investor conferences during the month of August. The presentations will be in a fireside chat format and webcast for the public. Interested parties can find further information regarding ...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch