Mynaric Signs Order from WARPSPACE for CONDOR Terminals and Marks First Sale in Japanese Space Industry

Rhea-AI Summary

Mynaric (NASDAQ: MYNA) has announced an order for CONDOR Mk3 terminals from Japan-based WARPSPACE, marking its first sale in the Japanese space industry. This order is aimed at establishing a commercial optical data relay network for Earth observation satellites, with deliveries scheduled for 2023 to 2025. The Japanese space market is projected to grow from $9 billion to over $30 billion by 2050. Mynaric's optical terminals are designed for mass deployment in satellite constellations and have been selected for various programs, enhancing its market position in the growing sector of laser communications.

Positive

• First sale in the Japanese space industry, expanding Mynaric's market presence.
• Projected growth of the Japanese space market from $9 billion to over $30 billion by 2050.
• Established relationships with significant space programs boost credibility and future sales potential.

Negative

• None.

CONDOR Mk3 terminals to be used to establish an optical data relay network for LEO satellites

MUNICH, GERMANY and TOKYO, JAPAN / ACCESSWIRE / January 24, 2023 / Mynaric (NASDAQ:MYNA) (FRA:M0YN), a leading provider of industrialized, cost-effective and scalable laser communications products, today announced an order for a small number of CONDOR Mk3 terminals by Japan-based WARPSPACE. The terminals will be used by WARPSPACE to establish a commercial optical data relay network for Earth observation satellites with product deliveries scheduled for 2023, 2024 and 2025.

"WARPSPACE is building a highly capable optical data relay network in space to solve today's communication bottleneck experienced by Earth observation satellites that need to transmit huge amounts of data to the ground in near real-time," said Hiromitsu Azuma, COO of WARPSPACE. "We are happy to have found with Mynaric's CONDOR product a suitable solution for our laser communications needs, as well as the needs of our customers. We look forward to receiving the units for subsequent satellite integration and launch."

The order marks Mynaric's first sale in the Japanese space industry, which is expected to grow from $9 billion today to over $30 billion by 2050, according to a market report by the New Zealand Ministry of Foreign Affairs and Trade.

"We are grateful for WARPSPACE to entrust us with the laser communication capabilities needed for their optical data relay satellite network," said Tina Ghataore, CCO of Mynaric. "With our first customer in Japan signed, we continue to earn the trust of our global customers and expand our commercial market share by delivering on our mission to make industrialized optical communications terminals widely available for a large range of applications."

Mynaric's CONDOR family of optical communications terminals is specifically designed for mass deployment as part of government and commercial satellite constellations. It has previously been selected by Northrop Grumman for the Space Development Agency's (SDA) Tranche 1 Tracking Layer and the Tranche 1 Transport Layer programs, by Capella Space for commercial synthetic aperture radar (SAR) satellites, by Telesat for the DARPA Blackjack program and others. In addition, Mynaric was named a key development partner for Phase 1 of DARPA's Space-BACN program and was selected by the European Space Agency (ESA) to investigate optical technologies for next generation high-throughput optical inter-satellite links.

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 mynaric.com.

About WARPSPACE

WARPSPACE is a space tech startup in Tsukuba, the hometown of Japanese aerospace development, developing an optical inter-satellite data relay service in medium Earth orbit called "WarpHub InterSat". The main customers are Earth observation satellite operators that need to quickly move large volumes of data from space to the ground at the very time when they need it. Bringing in both heritages from JAXA and OICETS projects and supply chain innovations in NewSpace, WARPSPACE aims to become the world's first private company to provide an optical communication network in space.

Website: warpspace.jp

SOURCE: Mynaric AG

View source version on accesswire.com:
https://www.accesswire.com/736493/Mynaric-Signs-Order-from-WARPSPACE-for-CONDOR-Terminals-and-Marks-First-Sale-in-Japanese-Space-Industry

FAQ

What is Mynaric's recent announcement regarding MYNA?

Mynaric announced an order for CONDOR Mk3 terminals by WARPSPACE, marking its first sale in the Japanese space industry.

How will Mynaric's terminals be used?

The terminals will be used to establish a commercial optical data relay network for Earth observation satellites.

When are the product deliveries for Mynaric's terminals scheduled?

Product deliveries are scheduled for 2023, 2024, and 2025.

What is the significance of the Japanese space market for Mynaric?

The Japanese space market is projected to grow significantly, from $9 billion today to over $30 billion by 2050, presenting a major opportunity for Mynaric.