Mynaric Initiates Volume Production and Completes First Shipment

MUNICH, March 30, 2024 – Mynaric AG, a leading company in laser communications, announced the commencement of volume production with the shipping of the first flight model CONDOR Mk3 optical head. This milestone marks the launch of serial production for the CONDOR Mk3 terminals, which began in the first quarter of 2024. Mynaric anticipates further increases in production and shipments during the second quarter of 2024.

This progress update expands on the company’s previous forecasts made on January 10, 2024, suggesting a positive outlook for its production capabilities and market aspirations. Mynaric, listed on NASDAQ (MYNA) and the Frankfurt Stock Exchange (M0YN), delineated that the shipment follows the approval from a customer, indicating a strong market demand for its optical communication terminals. These developments illustrate Mynaric's strides in scaling up operations and reinforcing its position in the laser communications sector.