LOS ANGELES, Nov. 1, 2021 /PRNewswire/ -- Mynaric has signed a
multi-year, strategic agreement with Northrop Grumman that
identifies the company as a strategic supplier for laser
communications in the space domain.
"The U.S. government is the driving force to deploy laser
communication capabilities in space," said Bulent Altan, CEO of Mynaric. "We are happy to
have been selected as a strategic supplier by Northrop Grumman to
pursue ongoing and upcoming programs in this important market
segment and look forward to jointly providing secure and broadband
communication to serve the U.S. government's needs for distributed
communication architectures."
Earlier this year Mynaric submitted bids with a combined value
in the mid-double digit million USD range to Northrop Grumman in
the framework of multiple government space programs that are still
pending contract awards by the U.S. government. Separately,
Northrop Grumman will issue a purchase order for a set of CONDOR
Mk3 terminals to kick-start the new relationship.
The agreement provides Northrop Grumman assured and preferred
access to Mynaric products and services. It also foresees that
Mynaric and Northrop Grumman will jointly develop and offer laser
communication solutions tailored to the unique needs of specific
U.S. government space programs. Mynaric will exclusively develop
and sell custom products to Northrop Grumman for this specific
market segment.
"Laser communication is becoming a strategic must-have for a
wide array of government programs, particularly as Joint All-Domain
Command and Control (JADC2) capabilities are expanded to an
increasing number of connected platforms and as cybersecurity
threats increase," said Dr. Robert
Fleming, Sector Vice President, Strategy and Business
Development, Northrop Grumman Space Systems. "We look forward to
partnering with Mynaric to provide cost-effective solutions to our
customers to deploy laser communication capabilities at scale."
Mynaric and Northrop Grumman signed the agreement upon a shared
interest in accelerating the growth, development, adoption and
innovation of laser communication solutions primarily for aerospace
and defense applications, including air, space, ground, maritime,
and undersea with a near-term emphasis on the space arena for the
U.S. government's needs and missions.
The agreement foresees business of a minimum value of Mynaric
products and/or related services of at least USD 35 million over the agreement term.
About Mynaric
Mynaric (Frankfurt Stock Exchange: 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.
More information at: www.mynaric.com
FORWARD-LOOKING STATEMENTS
This announcement contains forward-looking statements. Words
such as "anticipate," "foresee," "believe," "estimate," "expect,"
"intend," "could," "may," "might," "plan," "potential," "should,"
"target," "would" and variations of such words and similar
expressions are intended to identify forward-looking statements.
These forward-looking statements are based on the information
available to, and the expectations and assumptions deemed
reasonable by Mynaric at the time these statements were made. No
assurance can be given that such expectations will prove to have
been correct. These statements involve known and unknown risks and
are based upon a number of assumptions and estimates, which are
inherently subject to significant uncertainties and contingencies,
many of which are beyond the control of Mynaric. Given these
uncertainties, the reader is advised not to place any undue
reliance on such forward-looking statements. Mynaric expressly
disclaims any obligations or undertaking to release publicly any
updates or revisions to any forward-looking statements contained
herein to reflect any change in Mynaric's expectations with respect
thereto or any change in events, conditions or circumstances on
which any statement is based.
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SOURCE Mynaric