Mynaric goes into series production

The listed start-up Mynaric inaugurated its series production facility on Thursday: 2,000 devices per year are to be produced near Munich and 200 jobs created. There are also rumors of an IPO in the USA.

The Munich-based start-up Mynaric celebrated the start of its series production on Thursday. Mynaric put its production facility into operation near Munich in Oberpfaffenhofen. The aim is to produce 2,000 devices per year and create 200 jobs. "I am incredibly proud of what the entire Mynaric team has achieved to bring us to this milestone. Where our first series production is today, nine months ago there was only gravel. It is precisely this speed that is at the heart of Mynaric's identity," says COO Tino Schuldt.

The Munich-based company is a 2009 spin-off of the German Aerospace Center and is dedicated to data transmission by laser instead of radio. Mynaric sees its technology as filling a gap. This is because the amount of data that needs to be transmitted is increasing all the time, which means that radio transmission is reaching its limits. With the new system, the devices are set to enter industrial production. The start-up's customers are mainly based in the USA.

In addition to the start of production, insiders say that the start-up also aims to go public on the US Nasdaq stock exchange this year. Mynaric has been listed on the stock exchange in Germany since 2017, while the launch in America is set to take place in early fall, according to Reuters. Bulent Altan, who was one of the first employees at SpaceX and was involved in Starlink's Assurance satellite mission, has been the company's CEO since 2019.