Mynaric 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. As a leading scale-up for laser communication systems for satellites with design and manufacturing capabilities in Europe and with its strategy to provide industrialized products to a range of government and commercial customers, Mynaric stands ready as needed to support the deployment of Europe's sovereign satellite network.

The multi-orbital constellation of hundreds of satellites is expected to provide resilient services covering critical infrastructure protection, situational awareness, and support for external actions and crisis management. Negotiators from the EU Parliament and member states agreed on the satellite constellation that is set to receive 2.4 billion euros from the EU budget plus a contribution from the European Space Agency (ESA) as well as private investments in the coming years. With the satellite network called IRIS² (Infrastructure for Resilience, Interconnection and Security by Satellites) the European Union wants to ensure secure communications for businesses and citizens that will complement the already established Galileo positioning navigation and timing constellation and Copernicus Earth observation satellite systems.