EQS-News: Mynaric applauds European Union’s agreement to build sovereign satellite constellation
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Sunday, November 27, 2022
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Emerging companies to build 30% of infrastructure; EU plans to spend 2.4 billion euros on network with additional investments expected from European Space Agency and private sources.
Key Points:
- Emerging companies to build 30% of infrastructure; EU plans to spend 2.4 billion euros on network with additional investments expected from European Space Agency and private sources.
- MUNICH, November 21, 2022 Mynaric (NASDAQ: MYNA) (FRA: M0YN), a leading provider of industrialized, cost-effective, and scalable laser communications products, applauds the agreement by the Commission, Council and Parliament of the European Union to establish a sovereign European satellite constellation focused on government services.
- According to the agreement of November 17th the satellite network will be utilizing start-ups to build 30% of the total infrastructure.
- We are excited the EU has agreed to establish its own secure satellite communications constellation and applaud the decision to entrust start-ups to build a significant part of the infrastructure, said Tina Ghataore, CCO of Mynaric.