DGAP-News: Mynaric opens serial production facility for laser communication products and announces 2,000 units per year production rate target
DGAP-News: Mynaric AG
/ Key word(s): Market launch/Real Estate
Mynaric opens serial production facility for laser communication products and announces 2,000 units per year production rate target
17.06.2021 / 23:55
The issuer is solely responsible for the content of this announcement.
Munich, June 17, 2021 - Mynaric (Frankfurt Stock Exchange: M0Y, ISIN: DE000A0JCY11) has today celebrated the opening of its first dedicated serial production facility designed to produce laser communication equipment for the aerospace sector at scale. During the event, Mynaric announced a 2,000 units per year production rate target for its new serial production facility, substantially increasing previously announced targeted production capacity.
The newly opened production facility is located in the immediate vicinity of Mynaric's headquarters at the special research airport Oberpfaffenhofen near Munich, Germany. Its size, layout and processes have been set up with a specific focus on scalable production adaptable to the dynamic development expected from the laser communications market and demand across distinct market verticals. Lean manufacturing principles drove the design of the 1,600m² facility whose part flow, workstations, final assembly, and testing capabilities are optimized for efficiency and high throughput production. The facility will be operated with up to three 8-hour shifts to achieve the intended production target creating around 200 jobs along the way.
With the opening of the new production facility Mynaric continues to execute its strategy to build industrial capabilities required for the large volume deployment of laser communication products in proliferated aerospace networks. Mynaric follows a unique approach to supply chain and procurement focused on the reduction of critical supplier dependencies and risks associated to production ramp-up while maintaining its competitive advantages and securing its market position. This unique approach to supply chain and procurement sees Mynaric products utilizing a combination of:
- Cost-efficient commercial-off-the-shelf (COTS) components from suppliers supporting customers across diversified industry segments beyond aerospace,
- Proprietary built-to-print components from suppliers that are selected based on quality, scalability, price, and redundancy, and
- Key technologies from industry partners and vertically integrated components strategically relevant.
Mynaric utilizes a build-to-stock strategy for sub-systems and collaborative planning with its suppliers to enable short delivery times despite the continuing semiconductor shortage. Mynaric's supply chain and continued investments in industrial capabilities allows it to ramp-up production of products quickly as needed by the market and create continued cost savings that can be passed along to its customers.
"We are very proud to have opened, today, what is to our knowledge the world's first dedicated serial production facility for free-space optics products. We are on the cusp of the industrial age of this technology and we at Mynaric stand by our word to lead the way to enable the large-scale deployment across various applications in aerospace."
Bulent Altan, CEO, Mynaric
"Our commitment to volume production and securing critical supply chain components hits the mark with what our diverse customer communities around the world are seeking. The investments we are making coupled with an excellent team to execute puts us on the path for mutual success, for customers and our shareholders."
Tina Ghataore, CCO, Mynaric
"I am incredibly proud of what the entire Mynaric team has pulled off to get us to this milestone. Where today stands our first serial production facility there was only gravel just nine months ago. It is exactly this speed that's at the core of the Mynaric identity and the basis for achieving our production rate target of 2,000 units yearly as quickly as possible."
Tino Schuldt, COO, Mynaric
"What started in 2009 as a spin off from the German Aerospace Center has become a global
leading player in laser communication. With this new production facility Mynaric is launching the next stage and hits another milestone in its impressive company development. Mynaric has long become a Bavarian top star and blue-and-white role model for the Bavarian space startup community. Since 2019 when Bulent Altan - one of the architects of SpaceX's success - joined Mynaric as CEO it became known to more than just industry insiders that something big is in the making. Braun and Marconi revolutionized communications around 120 years ago through radio telegraphy and Mynaric is on the best track to do the same."
Dr. Florian Herrmann, Member of the Bavarian parliament, Leader of the office of the Bavarian Prime-minister and Minister of State for Federal Matters and Media
Mynaric is a manufacturer of laser communication technologies used to enable communication and surveillance applications in air and space. Its 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 laser data transmission products Mynaric is positioned as a pioneer in this growth market.
More information on: www.mynaric.com
Note to editors:
The celebratory opening of the production hall took place at special research airport Oberpfaffenhofen with in-person guests from politics, industry, and the press and additional online guests joining via live stream. Dr. Florian Herrmann (Member of the Bavarian parliament, Leader of the office of the Bavarian Prime-minister and Minister of State for Federal Matters and Media) gave a guest speech as part of the event followed by a panel discussion on growth opportunities for the German (aero)space sector between flotilla admiral Christian Bock (Director of Center of Excellence for Confined and Shallow Waters, NATO), Thomas Sattelberger (member of the German federal parliament), Daniel Metzler (CEO Isar Aerospace), and Bulent Altan (CEO Mynaric). The event also included guided tours through the serial production facility as well as an exhibition of Mynaric's space product CONDOR and a Grob G520 HAPS OPV research, training and surveillance aircraft of the company H3 Mission Systems equipped with Mynaric's HAWK product for airborne applications.
A recording of the event is available on-demand from: https://youtu.be/QVlVybafgEI
Photos of the event are available from June 18 on request: [email protected]
17.06.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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