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Syntec Optics, Pioneering Revolutionary Space Economy, to List on Nasdaq via Merger with OmniLit (Nasdaq: OLIT)
Syntec Optics expands U.S. manufacturing capacity in Rochester NY to meet game-changing Low Earth Orbit Satellite Mega-Constellation launch schedule
About this update from Syntec Optics Holdings, Inc.
[{"type":"text","content":"Syntec Optics expands U.S. manufacturing capacity in Rochester NY to meet game-changing Low Earth Orbit Satellite Mega-Constellation launch schedule\nROCHESTER, NEW YORK, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Syntec Optics, a leading scientific and technical instruments and aerospace and defense optics provider that, over the past two decades, enabled many mission-critical applications, celebrated another milestone. It has pioneered the advanced manufacturing of scalable ultra-high precision optics for Low Earth Orbit (LEO) satellite systems. Syntec Optics’ LEO Satellite Optics are extremely precise as they move at approximately 27,600 kilometers per hour, about 550 kilometers above the Earth, catching and receiving a laser beam nearly the size of a baseball. Syntec Optics produced its 1000th critical optics for LEO satellites in October 2023. Syntec Optics team utilized several advanced manufacturing techniques, leveraging decades of experience in advanced manufacturing of extremely high tolerance specialized components and sub-systems to rapidly deliver mission-critical optics. The production team worked 24x7 to reduce development time to nearly nine months to meet blue chip customer requirements while deploying the diverse optical capabilities of Syntec Optics. Cross-functional skills, including ultra-precision metrology combined with various vertically integrated extremely high-precision proprietary techniques, made the breakthrough possible. Low Earth Orbit satellites are playing a critical role in providing broadband internet. Precision optics-enabled laser technology, as compared to previous radar-signal technology, provides lower latency for potential applications in areas that can range from services for banking, internet access for remote areas to services to aircraft, ships, and military users. Adam Jonas at Morgan Stanley has been quoted saying, “We believe the largest opportunity for low earth orbit satellites comes from providing Internet access to under and unserved parts of the world, but there also is going to be increased demand for bandwidth from autonomous cars, the internet of things, artificial intelligence, virtual reality, and video.\" Morgan Stanley, in its July 24, 2020 report, Space: Investing in the Final Frontier, estimated that satellite broadband will represent 50% of the projected growth of the global...