MUNICH, GERMANY / ACCESSWIRE / November 1, 2023 / Mynaric (NASDAQ:MYNA)(FRA:M0YN), a leading provider of industrialized, cost-effective and scalable laser communications products, today announced that it entered into an additional definitive agreement with a previously undisclosed U.S.-based customer for the delivery of CONDOR Mk3 optical communication terminals. The order has a value of around $6 million, foresees payment milestones in Q4 2023 and 2024 and product deliveries in the second half of 2024.

"We are delighted to announce that we have successfully secured another contract for our flagship product, CONDOR Mk3. Wins such as this in an expanding market for laser communication products highlight our industry-leading position," said Mustafa Veziroglu, CEO of Mynaric. "Our robust performance in comprehensive optical verification and interoperability evaluations not only attest to our past and present achievements but also signals promising prospects for the future."

Mynaric's commitment to leading-edge laser communication technology is further cemented with this new agreement. As the industry leans towards scalable optical communication solutions, Mynaric's partnerships and milestones serve as an affirmation of its position as a trusted leader in the sector.

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.

Forward-Looking Statement

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SOURCE: Mynaric AG