LyteLoop, a Space Company, Names Danny Damaghi as CEO Triples the Size of Team as Countdown to Data Storage in Space Accelerates

The Company's Growth Demonstrates the Urgency to Transform Data Storage Capacity

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May 04, 2021, 08:30 ET

NEW YORK, May 4, 2021 /PRNewswire/ -- LyteLoop Technologies LLC, a space company which utilizes the power of ultra-high bandwidth lasers to store massive amounts of data between satellites in space, named its founder Danny Damaghi as Chief Executive Officer.

"I am excited about taking over the day-to-day leadership of Lyteloop at a time that we are entering the next stage of our evolution and growth. Our progress to date has been extraordinary as we diligently work to develop our solution to effectively address the deficiencies related to current cloud data storage technologies," commented Mr. Damaghi. "As we migrate from a R&D powerhouse to an operating business it is time to offer my background and experience in the manufacturing and technology spaces full time."

For the past sixteen years, Mr. Damaghi has been an executive and board member of a group of privately held operating companies. Mr. Damaghi has been involved in all aspects of these businesses, including facility construction, manufacturing operations, and managing the Information Technology and Information Security aspects of the group.

LyteLoop has spent the past five years developing the science which underlies its data storage methods and the physics challenges of a laser-based storage medium that could offer great advantages over traditional data warehousing technology used today. The Company has built an impressive, diverse team comprised of experienced aerospace engineers and photonics researchers from eleven different countries; and has nearly tripled the size of its team in the first quarter of this year in an effort to leapfrog the remaining engineering hurdles of launching its novel data storage technology into orbit. This expanded team is focused on bringing LyteLoop's proprietary, patented photonic method of data storage to the market within the next three years.

About LyteLoop
LyteLoop Technologies LLC is a space company that will utilize the power of ultra-high bandwidth lasers to store massive amounts of data in space. Since 2015, LyteLoop has been assembling a team and obtaining patents for its plan to move data in an endless loop between satellites, taking up less space and using less electricity than traditional, terrestrial solutions. The company has developed a photonic method of data storage which puts data in a constant state of perpetual motion. LyteLoop's "storage in motion" technique will transform how data is stored while providing a myriad of unique and customizable advantages including substantial power savings, unique cyber security advantages and more. For more information, visit https://www.lyteloop.com.

SOURCE LyteLoop