Mynaric Advances Production of CONDOR Mk3

Mynaric AG (NASDAQ: MYNA) has announced progress in ramping up the production of its CONDOR Mk3 laser communication terminals. The company has overcome earlier production delays and supply chain issues, improving production yields significantly. These shipments will support the Space Development Agency’s (SDA) Tranche 1 program.

Joachim Horwath, CTO of Mynaric, stated that despite recent setbacks, the company remains focused on delivering scalable laser communication products. Andreas Reif, Chief Restructuring Officer, confirmed that technical challenges in the production ramp are being addressed to ensure future success.

Current shipments will support Northrop Grumman, York Space Systems, and Loft Federal in SDA programs. Mynaric is also engaged in various space communication projects, including DARPA’s Space-BACN program and initiatives with the European Space Agency (ESA) and the German government.

The company continues to seek additional capital to support ongoing operations. Various strategic options are being evaluated to meet near-term capital needs.