IonQ Secures Contract to Provide Quantum Solutions to United States Air Force Research Lab
September 30 2022 - 8:00AM
Business Wire
- $13.4 million agreement for ion trap quantum computing marks
the latest development in U.S. government-sponsored quantum
research
IonQ (NYSE: IONQ), an industry leader in quantum computing,
today announced that it has secured a $13.4 million contract to
supply the U.S. Air Force Research Lab (AFRL) with access to its
trapped ion systems for quantum computing hardware research and for
the development of quantum algorithms and applications.
Quantum computing, systems and applications have the potential
to help the U.S. Air Force protect both public and private
infrastructure in the United States. The AFRL-IonQ agreement, which
marks IonQ’s latest commercialization milestone, represents a
significant public-private partnership to invest in quantum
computing.
"Trapped ion systems and their performance demonstrated by high
algorithmic qubits (AQ) have some very unique properties making
them one of the leading technologies in the development of quantum
computing and networking capabilities," said Michael Hayduk, Deputy
Director of the Information Directorate at the Air Force Research
Lab. "This contract solidifies AFRL's long-term strategic focus in
quantum information science. The partnership will accelerate
critical quantum science and technology projects, benefiting the
Air Force as we seek to maintain our competitive advantage and
advance our national security interests."
In 2021, the U.S. House introduced the Quantum Cybersecurity
Preparedness Act, signaling fresh focus on the need for U.S.
investment in quantum–both to protect against quantum-powered
attacks from foreign actors and to develop quantum computing
strength on the domestic front. In May 2022, the Biden-Harris
administration announced directives to support U.S. leadership in
quantum computing, and in September, the National Security
Administration (NSA) shared guidance on the importance of
cybersecurity readiness against would-be adversaries developing
quantum systems.
“Quantum computing is the key that we believe will unlock
unforeseen efficiencies and strength in the development and
deployment of U.S. defense technologies,” said IonQ CEO Peter
Chapman. “This area of research holds incredibly exciting promise,
and we’re proud to be among the first to partner with the AFRL to
further American leadership in this important space.”
IonQ’s work with the AFRL continues its momentum of commercial
and scientific accomplishments, which over the past 12 months alone
include research and commercial relationships with Airbus, GE
Research, Goldman Sachs, Hyundai and others. The company also
recently announced that its industry-leading IonQ Aria system is
publicly available on Microsoft Azure Quantum, providing
developers, researchers, engineers, and industry leaders from
around the world with access to quantum via the cloud.
This agreement with AFRL was included in the previously
identified late-stage opportunity in IonQ’s booking forecast that
was at risk of closing in 2022. In conjunction with this new
contract win, IonQ is reaffirming its previous financial outlook as
stated in its latest earnings call from August 15, 2022.
About IonQ
IonQ, Inc. is a leader in quantum computing, with a proven track
record of innovation and deployment. IonQ's current generation
quantum computer, IonQ Forte, is the latest in a line of
cutting-edge systems, including IonQ Aria, a system that boasts
industry-leading 23 algorithmic qubits. Along with record
performance, IonQ has defined what it believes is the best path
forward to scale. IonQ is the only company with its quantum systems
available through the cloud on Amazon Braket, Microsoft Azure, and
Google Cloud, as well as through direct access through IonQ. IonQ
was founded in 2015 by Christopher Monroe and Jungsang Kim based on
25 years of pioneering research. To learn more, visit
www.ionq.com.
IonQ Forward-Looking Statements
This press release contains certain 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. Some of the forward-looking statements can be identified
by the use of forward-looking words. Statements that are not
historical in nature, including the words “anticipate,” “expect,”
“suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,”
“projects,” “should,” “could,” “would,” “may,” “will,” “forecast”
and other similar expressions are intended to identify
forward-looking statements. These statements include those related
to quantum computing’s impact on the development and deployment of
U.S. defense technologies; and IonQ’s future financial performance,
including management’s financial outlook for the third quarter and
full year 2022. Forward-looking statements are predictions,
projections and other statements about future events that are based
on current expectations and assumptions and, as a result, are
subject to risks and uncertainties. Many factors could cause actual
future events to differ materially from the forward-looking
statements in this press release, including but not limited to:
market adoption of quantum computing solutions and IonQ’s products,
services and solutions; the ability of IonQ to protect its
intellectual property; changes in the competitive industries in
which IonQ operates; changes in laws and regulations affecting
IonQ’s business; IonQ’s ability to implement its business plans,
forecasts and other expectations, and identify and realize
additional partnerships and opportunities; and the risk of
downturns in the market and the technology industry including, but
not limited to, as a result of the COVID-19 pandemic. The foregoing
list of factors is not exhaustive. You should carefully consider
the foregoing factors and the other risks and uncertainties
described in the “Risk Factors” section of IonQ’s Quarterly Report
on Form 10-Q for the quarter ended June 30, 2022 and other
documents filed by IonQ from time to time with the Securities and
Exchange Commission. These filings identify and address other
important risks and uncertainties that could cause actual events
and results to differ materially from those contained in the
forward-looking statements. Forward-looking statements speak only
as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and IonQ assumes no
obligation and does not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise. IonQ does not give any assurance that
it will achieve its expectations. Unless otherwise indicated, the
content of the third-party websites and publications accessed
through the hyperlinks included in this press release does not
constitute a portion of this press release and is included as
textual reference only.
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IonQ Media contact: press@ionq.com
IonQ Investor Contact: investors@ionq.com
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