TIDMQBIT
RNS Number : 8158A
Quantum Exponential Group PLC
07 February 2022
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN, OR SOUTH AFRICA OR ANY OTHER JURISDICTION
WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.
7(th) February 2022
Quantum Exponential Group plc
(the 'Company' or 'Quantum Exponential')
Investee Update - Arqit Quantum Inc. ('Arqit')
Arqit Signs Agreement with United States Airforce to prove the
viability of Quantum Encryption
Quantum Exponential Group plc (AQUIS: QBIT), a company focused
on investing in quantum technology, notes that on 4th February
Arqit Quantum Inc. (NASDAQ: ARQQ), a global leader in quantum
encryption technology and a company which Quantum has an option to
be transferred 199,993 ordinary shares , announced that it had
signed a Cooperative Research and Development Agreement ('CRADA')
with United States Air Force ('USAF'.) The agreement aims to
demonstrate the functionality of Arqit's QuantumCloudTM and prove
the viability of quantum encryption to government users.
Arqit's product, QuantumCloud(TM), enables any device to
download a lightweight software agent of less than 200 lines of
code, which can create encryption keys in partnership with any
other device. The keys are computationally secure, one-time use and
zero trust. QuantumCloud(TM) can create limitless volumes of keys
in limitless group sizes and can regulate the secure entrance and
exit of a device in a group.
Under the agreement, a variety of performance measures and
interoperability will be examined to demonstrate and validate the
contribution that QuantumCloudTM can make to DoD facilities. The
expected outcome of the CRADA is to prove viable quantum encryption
services from a commercial platform to DoD infrastructure for USAF
and wider DoD user cases.
Commenting on the agreement Steven Metcalfe, CEO of Quantum
Exponential Group, said :
"Cybersecurity remains one of the biggest threats to our world
today. We believe that quantum technology, and quantum encryption,
in particular, will have a pivotal role in addressing that threat
and that companies such as Arqit and its QuantumCloud(TM)
technology will lead the way".
A full copy of Arqit's announcement can be viewed the following
link: https://arqit.uk/news/press-releases/
This announcement contains information which, prior to its
disclosure, was inside information as stipulated under Regulation
11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310
(as amended).
The Directors take responsibility for this announcement.
**ENDS**
For more information, visit the Company's website:
www.quantum-exponential.co.uk
For further information please contact:
Quantum Exponential Group Plc Tel: c/o +44 (0)207 236 1177
Steven Metcalfe, Chief Executive
Officer
Novum Securities (AQSE Corporate Tel: +44 (0)20 7399 9400
Adviser)
David Coffman, Lucy Bowden
-----------------------------
Oberon Capital (Broker) Tel: +44 (0)20 3179 5344
Mike Seabrook, Chris Crawford,
Robert Hayward
-----------------------------
St Brides Partners Limited (Financial Tel: +44 (0)207 236 1177
PR)
Catherine Leftley, Ana Ribeiro,
Isabelle Morris
-----------------------------
Notes to Editors
About Quantum Exponential Group plc
Quantum Exponential is a first of its kind, AQSE Growth Market
SPAC, focused on opportunities in quantum technology and the wider
quantum computing sector, with an advisory board made up of
industry advisors, entrepreneurs, and technology investment
professionals with broad access to quantum opportunities and
markets. Quantum Exponential's investment strategy is to assemble a
portfolio of minority investments in early-stage global quantum
technology companies, primarily in NATO allied countries, offering
institutional and private investors access to revolutionising
technologies and industries in the realms of artificial
intelligence, manufacturing and healthcare.
Quantum Exponential trades on AQSE Growth Market under the
ticker symbol "QBIT'.
About Arqit Quantum Inc.
Arqit supplies a unique quantum encryption Platform-as-a-Service
which makes the communications links of any networked device secure
against current and future forms of attack - even from a quantum
computer. Arqit's product, QuantumCloud(TM), enables any device to
download a lightweight software agent of less than 200 lines of
code, which can create encryption keys in partnership with any
other device. The keys are computationally secure, one-time use and
zero trust. QuantumCloud(TM) can create limitless volumes of keys
in limitless group sizes and can regulate the secure entrance and
exit of a device in a group. The addressable market for
QuantumCloud(TM) is every connected device. Arqit trades on Nasdaq
under the ticker symbols 'ARQQ' and 'ARQQW'.
About United States Air Force
The Air Force Research Laboratory (AFRL) is the primary
scientific research and development center for the Department of
the Air Force, within the U.S. Department of Defense. AFRL plays an
integral role in leading the discovery, development, and
integration of affordable warfighting technologies for the air,
space, and cyberspace force. With a workforce of more than 11,500
across nine technology areas and 40 other operations across the
globe, AFRL provides a diverse portfolio of science and technology
ranging from fundamental to advanced research and technology
development. For more information, visit: www.afresearchlab.com
.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NEXUPURPPUPPUUM
(END) Dow Jones Newswires
February 07, 2022 01:59 ET (06:59 GMT)
Quantum Exponential (AQSE:QBIT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Quantum Exponential (AQSE:QBIT)
Historical Stock Chart
From Jul 2023 to Jul 2024
