LEESBURG,
Va., Sept. 21, 2023 /PRNewswire/ -- Quantum
Computing Inc. ("QCi" or the "Company") (Nasdaq: QUBT), an
innovative, quantum optics and nanophotonics technology
company, announces that it has chosen ASU Research
Park in Tempe, Arizona, as
the location for its new quantum photonic chips manufacturing
facility, where it will produce its Thin Film Lithium Niobate
(TFLN) chips.
Known for its photonic-based quantum solutions,
QCi is expanding production with this new facility to accelerate
its advanced technology development in nanophotonics and optical
chip manufacturing for use in its high-performance computing,
machine learning, cyber security, sensing, and imaging
products. A characteristic feature of these chips is
heightened scalability and performance advantages such as speed,
accuracy and ultra low electric power consumption. Lithium niobate
nanophotonic circuits (quantum chips) will be used in QCi's
products and for general sale in the market as well.
The State of
Arizona is one of the nation's leading semiconductor
ecosystems, comprised of more than 100 leading tech companies,
built upon a long history of advancing the chip industry dating
back to the first Motorola lab in the late 1940s. Importantly,
Arizona is a driving force in the
field of optics as its government leaders were early in the
championing of advanced photonic research by supporting strong
research universities interested in exploring mission-ready quantum
computing and related technologies.
The location QCi chose for its new facility is on
five acres within the extensive 320-acre research park hosted by
ASU, a global leader in academic microelectronics research and #1
in Innovation according to U.S. News & World Report. The
research park currently provides 2.2 million sf. of Class A office
and research facilities for more than 6,700 employees and 50
corporations and organizations, including Honeywell, Texas
Instruments, Linear Technology, GE Healthcare, Iridium Satellite
and the Institute for Supply Management. The selection of this site
aims to promote cooperation, creativity and leverage the park's
pre-existing infrastructure and skilled workforce.
To date, QCi has placed deposits for the
procurement of critical long-lead equipment and paid other expenses
associated with the new chip fabrication facility of approximately
$2 million. The Company plans to
begin the buildout of the facility during fourth quarter 2023. As a
lease incentive, the landlord agreed to provide a significant
portion of the leasehold improvements needed to develop the
fabrication facility. In addition, there are multiple funding
sources available for state-of-the-art manufacturing facilities,
including state and federal grants and low single-digit interest
rate loans. Importantly, QCi believes it is in a strong
position to benefit from the CHIPS and Science Act of 2022, which
allocated $113.2 billion in federal
funding and tax incentives to companies for the development of
semiconductor research and manufacturing in the U.S. QCi
anticipates that its chip manufacturing will commence operations
first half of 2024, initially with singly purposed chips—such as
those physically unclonable functions, electro-optical modulation,
quantum entanglement generation—and mass-producing quantum
photonics chips with complex nanophotonic circuits by late 2024 /
early 2025.
"The quantum photonic chip facility is poised to
make a significant impact in the United
States by becoming the first US-based developer and producer
of thin film lithium niobate chips. This accomplishment not only
enhances the nation's manufacturing capabilities but also reduces
reliance on foreign chip imports," commented Robert Liscouski, QCi's CEO. "The chips, which
will be manufactured domestically, are a central part of QCi's
technical and commercial growth strategy and will serve as the
foundation for a new wave of innovative quantum technologies,
spanning fields such as data processing, hybrid computing,
cryptography, sensing, and artificial intelligence. This initiative
will serve to keep the US as a leading technology provider and will
reinforce supply chain security and solidify QCi's position in the
nanophotonics and quantum optics industry."
Mr. Liscouski added, "The multiple benefits of
locating in Arizona, and at the
ASU Research Park in particular, are expected to accelerate the
time-to-market of the first products powered by QCI's quantum
photonic chips. Expansion into Arizona represents a strategic initiative for
the Company. The location was selected due to the State's
leadership in the field of optics, its early recognition of the
importance of advanced photonic research, and the presence of
numerous State and US Government entities interested in exploring
mission-ready quantum computing and related technologies."
Mr. Corey Woods,
Mayor of Tempe, Arizona commented,
"This expansion by QCi holds great potential for Tempe's economic development. By prioritizing
the production of lithium niobate chips, QCi is not only creating
job opportunities in engineering and manufacturing but is also
establishing a pioneering quantum technology sector in the region.
This move is set to enhance Tempe's reputation as a technology hub,
attracting talent and promoting an environment conducive to
innovation."
About Quantum Computing Inc.
Quantum Computing Inc. (QCi) (Nasdaq:
QUBT) is an innovative, quantum optics and nanophotonics
technology company on a mission to accelerate the value of quantum
computing for real-world business solutions, delivering the future
of quantum computing, today. The company provides accessible and
affordable solutions with real-world industrial applications,
using nanophotonic-based quantum entropy that can be
used anywhere and with little to no training, operates at normal
room temperatures, low power and is not burdened with unique
environmental requirements. QCi is competitively advantaged
delivering its quantum solutions at greater speed, accuracy, and
security at less cost. QCi's core nanophotonic-based technology is
applicable to both quantum computing as well as quantum
intelligence, cybersecurity, sensing and imaging solutions,
providing QCi with a unique position in the marketplace. QCi's core
entropy computing capability, the Dirac series, delivers solutions
for both binary and integer-based optimization problems using over
11,000 qubits for binary problems and over 1000 (n=64) qubits for
integer-based problems, each of which are the highest number of
variables and problem size available in quantum computing
today. Using the Company's core quantum methodologies, QCi has
developed specific quantum applications for AI, cybersecurity, and
remote sensing, including its Reservoir Photonic Computer series
(intelligence), reprogrammable and non-repeatable Quantum Random
Number Generator (cybersecurity) and LiDAR and Vibrometer (sensing)
products. For more information about QCi,
visit www.quantumcomputinginc.com.
About Quantum Innovative Solutions
Quantum Innovative Solutions (QI Solutions or
QIS), a wholly owned subsidiary of Quantum Computing Inc., is an
Arizona-based supplier of quantum
technology solutions and services to the government and defense
industries. With a team of qualified and cleared staff, QIS
delivers a range of solutions from entropy quantum computing to
quantum communications and sensing, backed by expertise in
logistics, manufacturing, R&D and training. The company is
exclusively focused on delivering tailored solutions for partners
in various government departments and agencies.
Important Cautions Regarding Forward-Looking
Statements
This press release contains forward-looking
statements as defined within 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. Those statements include statements regarding the intent,
belief or current expectations of QCi and members of its management
as well as the assumptions on which such statements are based.
Prospective investors are cautioned that any such forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties, and that actual results may differ
materially from those contemplated by such forward-looking
statements.
QCi undertakes no obligation to update or revise
forward-looking statements to reflect changed conditions.
Statements in this press release that are not descriptions of
historical facts 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 contain certain forward-looking statements
pertaining to future anticipated or projected plans, performance
and developments, as well as other statements relating to future
operations and results. Words such as "may," "will," "expect,"
"believe," "anticipate," "estimate," "intends," "goal,"
"objective," "seek," "attempt," "aim to," 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 in QCi's Annual Report on Form 10-K and other factors as
may periodically be described in QCi's filings with the U.S.
Securities and Exchange Commission.
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SOURCE Quantum Computing Inc.
