The company Mynaric is one of the largest, if not the largest, players in the field of laser communications for aircraft, high-altitude platforms, and satellites. A successful IPO in 2017 brought the company, which aims to make the Internet possible above the clouds, raised over 27 million euros. Mynaric was founded in 2009 by former employees of the German Aerospace Center (DLR) as Startup in Munich.
Following a prohibition notice from the German federal government clearly prohibiting the delivery of laser communication products to China, Mynaric has now ceased its business in China. According to the company, it has not yet delivered any laser communication terminals or components to China and will immediately terminate all ongoing business with customers in China. Plans to divest its business with China through a buyout have also been halted. Mynaric proactively requested official clarification for a planned export to a Chinese customer, which resulted in the prohibition notice.
Bulent Altan, CEO of Mynaric, explains:
"We have always been aware that laser communications would eventually be recognized as a key technology and thus become a focus of national security interests. Recent developments have impressively demonstrated that this is now the case. Laser communications products will play a central role in critical communications infrastructure projects of national importance. It is our duty to position ourselves accordingly to be able to supply this type of infrastructure."
Mynaric sees this as a clear commitment to the national interests of its core markets, which is a prerequisite for business success there – especially with regard to the US, where relevant government contracts are expected to be awarded soon. The company likely expects that, in the current geopolitical climate, business relationships in China will be an obstacle to awarding these contracts.
Tina Ghataore takes over management of Mynaric USA
Just days after announcing its withdrawal from the Chinese market, Mynaric has appointed a new head of its US business. Tina Ghataore, former EVP of satellite communications company Yahsat, will assume operational responsibility for US operations as President of Mynaric USA. One of her key responsibilities will be to lead the North American market launch, ensuring alignment with customer requirements in the various target vertical markets.
Mynaric USA plans to handle sales, support, development, and domestic production of its laser communications products for North American customers directly from the USA. To this end, the team has now moved to new, expanded facilities in Hawthorne, Los Angeles.
Tina Ghataore explained:
"I look forward to working with Bulent and the rest of the Mynaric team. Mynaric USA is in an exciting phase. The company is growing rapidly and is well on its way to becoming a leading provider of laser communications products for space and aerospace applications – in both government and commercial North American markets."
