QCI and QPhoton terminate exclusivity

0

LEESBURG, Va., Feb. 24, 2022 (GLOBE NEWSWIRE) — Quantum Computing Inc. (“QCI” or the “Company”) (QUBT), a leader in bridging the power of classical and quantum computing, today announced its business partnership and exclusive marketing agreement with QPhoton, Inc., a leading innovator in quantum photonics technology Space. The companies will work together to bring together QCI’s quantum software solution, Catalyst™with QPhoton’s advanced photonic quantum technologies for their application to QCI-specific solutions.

QPhoton’s technology is a condensate of pioneering quantum research over two decades with support from DARPA, NSF, NASA, DoD and other renowned federal funding agencies. dr Yuping Huang, CEO of QPhoton, Gallaher’s associate professorphysics and director of Center for Quantum Science and Engineering at Stevens Institute of Technology, has led many pivotal, large-scale quantum projects both at Northwestern University (2009-2014) and now Stevens (since 2014) for a total fund volume of ~30 million US dollars.

“QCI is committed to developing quantum computing solutions that bring real value to business and government customers – today. We believe our partnership with QPhoton has the potential to accelerate and expand our efforts to democratize quantum computing with breakthrough and turnkey quantum solutions that are affordable and can deliver ROI to end users,” said Robert Liscouski, CEO of QCI. “As a quantum innovator, QPhoton leverages two decades of leading quantum studies to bring significant quantum value to market, including advanced photonic chips, quantum nanophotonics, quantum-enabled sensing (light detection and ranging), quantum-secured cyber applications, and quantum networks.”

Liscouski added, “We are honored to work with such a visionary scientist and innovator as Dr. Huang to work together.”

“I am honored and excited to be working with QCI on this endeavor,” said Dr. Yuping Huang, CEO of QPhoton. “It is my dream and my life’s mission to bring quantum benefits to everyday technology users and make them available across all disciplines across industries. If quanta are actually going to change the world, they should be made accessible to everyone.”

“QPhoton’s agreements with QCI are a major step forward in realizing that vision. I look forward to a long and fruitful collaboration with QCI,” added Dr. Huang added.

QCI is focused on developing powerful quantum optimization software and algorithms that can be processed on any quantum computer in a fraction of the time and effort currently required. By coupling QPhoton’s quantum hardware technologies with Qatalyst, QCI will deliver more powerful solutions to accelerate the adoption and value of quantum computing for specific applications and markets. QPhoton Technologies will also offer advanced solutions to QCI resellers, technology and QPU partners to further accelerate the adoption of quantum computing.

A key benefit of Qatalyst software is that it is hardware agnostic, supporting a variety of quantum technologies and QPUs, each with their own unique performance and computational attributes. This eliminates the need for deep, complex, low-level coding and vendor lock-in required by available software alternatives. By adding QPhoton’s capabilities, QCI believes the proposed partnership has the potential to enable QCI to incorporate photonics technologies into its supported quantum hardware technology, increasing its customers’ options when selecting their preferred quantum IP and/or approaches for Quantum computers to be further expanded.

“I am very grateful for the continued trust and generous support from the government,” said Dr. Huang “My involvement in these projects has always been two-fold: advancing knowledge and creating broader impact. By partnering with QCI, QPhoton will significantly contribute to the rise of the quantum industry in the US and help deliver on the promises we made to the government.”

Under the exclusive marketing agreement, the companies will seek to jointly sell and commercialize the quantum and photonics products and services developed by the parties. The agreement also includes a promissory note purchase agreement providing for a $2.5 million promissory note. To date, QCI has provided $1.25 million to QPhoton and has agreed to provide an additional $1.25 million subject to certain conditions. Proceeds will enable QPhoton to continue its ongoing photonic innovations and establish joint R&D with QCI.

“A key part of our value proposition is to extend and extend the capabilities of current QPU technology by customizing the customer application to scale with the QPU capability to deliver real business value,” stated Dr. William McGann, COO and CTO of QCI. “We believe that the emerging quantum technologies using photonics methods will make significant advances as we deliver true business quantum solutions to problems plaguing multiple areas of industry such as logistics and supply chain.”

QPhoton has secured a broad spectrum of quantum IP that includes quantum sensing, communications, encryption and nanophotonic chips. “Its engineers have successfully developed advanced nanophotonic and microelectronic circuits and a number of prototype systems for processing and measuring large quantum data that show significant advantages over the state of the art.”

“As demonstrated in our BMW Challenge entry on sensor placement, the sheer volume of sensors and possible combinations require significant optimization processing power,” Liscouski added. “Working with QPhoton, we will create an integrated quantum solution that offers the opportunity to better solve these types of problems with a suite of highly integrated and optimized quantum technologies, including quantum sensors, quantum processors and quantum software.”

The agreement includes exclusive commercialization rights to QPhoton’s quantum and photonics computing technologies and resources. The companies expect to demonstrate first joint quantum solutions in the Q4 2022 timeframe.

To learn more about QCI and how Qatalyst can deliver results for your business today, go to www.quantumcomputinginc.com.

About Quantum Computing Inc.
Quantum Computing Inc. (QCI) (QUBT) is focused on accelerating the value of quantum computing for real-world business solutions. The company’s flagship product, Qatalyst, is the first software to bridge the power of classical and quantum computing, hiding complexity and empowering SMBs to solve complex computing problems today. QCI’s team of experts in finance, computer science, security, mathematics and physics has more than a century of experience in complex technologies. from leading supercomputing innovations to massively parallel programming to security protecting nations. Connect with activated QCILinkedIn and@QciQuantum on twitter. For more information on QCI, see www.quantumcomputinginc.com.

About QPhoton, Inc.
QPhoton, Inc. of Kearny, NJ develops and delivers quantum-enabled technologies to create unmatched value in biomedical, remote sensing, cybersecurity and AI. It maintains a growing and diverse portfolio of patented intellectual property rights, including patent groups and proprietary prototypes, covering quantum hardware and protocols for authentication, processing, simulators, photonic lidar, imaging, covert communications, and more. QPhoton prides itself on providing cost-effective hardware solutions, including nanophotonic products, to meet customers’ needs and help them thrive in a highly competitive industry.

Important Cautionary Statements Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. These statements include statements about the intent, belief, or current expectations of Quantum Computing (“Company”) and members of its management, and the assumptions on which such statements are based. Prospective investors are cautioned that such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results could differ materially from those contemplated in such forward-looking statements.

The Company undertakes no obligation to update or revise any forward-looking statements to reflect changed conditions. Statements in this press release that are not statements of historical fact are forward-looking statements relating to future events and as such, all forward-looking statements are made pursuant to the Securities Litigation Reform Act of 1995. Statements may include certain forward-looking statements regarding future anticipated or projected plans, performance and developments and other statements regarding future operations and results. All statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as “may”, “will”, “expect”, “believe”, “anticipate”, “estimate”, “intend”, “aim”, “aim”, “aim”, “aim”, “aim”. ‘ or variations of these or similar words identify forward-looking statements. These risks and uncertainties include, but are not limited to, those described in Item 1A of the Company’s Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors periodically described in the Company’s filings with the SEC.

Qatalyst™ is the trademark of Quantum Computing Inc. All other trademarks are the property of their respective owners.

Company contact:
Robert Liscouski, CEO
Quantum Computing Inc.
+1 (703) 436-2161
E-mail contact

Investor Relations contact:
Ron Both or Grant Stude
CMA Investor Relations
+1 (949) 432-7566
E-mail contact

Contact for media work:
Seth Menacker
Fusion Public Relations
+1 (201) 638-7561
[email protected]

Quantum Computing Inc .png

Share.

Comments are closed.