TIDMQBIT
RNS Number : 9869J
Quantum Exponential Group PLC
03 May 2022
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3 May 2022
Quantum Exponential Group plc
(the 'Company' or 'Quantum Exponential')
Quantum Invests in Aegiq Ltd
Quantum Exponential Group plc (AQUIS: QBIT), a company focused
on investing in quantum technology, is pleased to announce that it
has invested GBP406,050 in two parts, (GBP256,050 equity,
GBP150,000 convertible note) in Aegiq Limited ('Aegiq'), a hardware
photonics company using quantum technologies to address the global
cybersecurity threat posed by the rise of quantum computing.
Highlights:
-- Aegiq, recently won the Institute of Physics Business
Start-Up Award for the development of its breakthrough quantum
photonics platform using proprietary deterministic single-photon
sources
-- Aeqiq has been accepted into The Quantum Economic Development
Consortium a consortium of stakeholders that aims to enable and
grow the US quantum industry
-- Diversified product range with plans to expand into EU, USA, and Canada
Other investors in this round include - High Tech Gr ü
nderfonds, a German investment firm focused on innovative high
technology start-ups.
Commenting on the investment, CEO of Quantum Exponential Group,
Steven Metcalfe said:
" In a recent report by the World Economic Forum, quantum
computing was listed as one of the top five threats to
cybersecurity. Quantum computers have the capability to achieve in
seconds what would take years in a traditional digital computer.
Aegiq's innovative solutions aim to address what is a real threat
to global security and we are delighted to be playing a part,
albeit small, in supporting their growth objectives."
Using its quantum photonic platform technology, Aegiq, a
spin-out from the University of Sheffield, and the winner of the
prestigious Institute of Physics Business Start-Up Award, is
developing a breakthrough quantum photonics platform technology.
This patented hardware solution will serve the basis for
large-scale networking applications with quantum security and data
links, including quantum key distribution (QKD), as well as quantum
computing. In addition, the technology enables a range of new
R&D applications in quantum science, sensing, imaging, and
others, and is ready to service this market.
The funds invested will be used to expand into new geographies,
providing it with access to additional talent, customers, and
potential investors.
Following the investment, Quantum Exponential will have a c
4.06% stake in Aegiq's issued share capital on a fully diluted
basis.
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 or contact:
Steven Metcalfe, Chief Executive Officer c/o quantum@stbridespartners.co.uk
Novum Securities (AQSE Corporate Adviser) Tel: +44 (0)20 7399 9400
David Coffman, Lucy Bowden
Oberon Capital (Broker) Tel: +44 (0)20 3179 5344
Mike Seabrook, Chris Crawford, Robert Hayward
St Brides Partners Limited (Financial PR) quantum@stbridespartners.co.uk
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 Aegiq
Aegiq (/ i d k/, ee-jik) is building a new generation of
networking and computing with quantum technology. The company is
using its pioneering single-photon and integrated quantum optics
platform to address the demand for next-gen fibre and satellite
quantum communications, as well as drive further research and
development in quantum computing and quantum optics using its
advanced technology.
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