Arqit Quantum Inc. Announces Independent Assurance Report on its Technology
May 11 2022 - 8:00AM
Arqit Quantum Inc. (Nasdaq: ARQQ, ARQQW) (“Arqit”), a global leader
in quantum encryption technology, today announced the completion of
an independent assurance report undertaken by University of Surrey
on the technology protocols used by Arqit to enable symmetric key
agreement over classical IP network infrastructures.
The independent assurance report confirms the
security proof of Arqit's customer end point symmetric key
agreement software in that it creates keys which are zero trust and
computationally secure.
This work builds upon a technical review by University of Surrey
which used a well-established Tamarin cryptographical modelling
tool to validate the mathematical underpinnings of the foundational
key establishment protocols.
The report outlines the merits behind the academic analysis
methodology of the Tamarin approach and provides a higher-level
interpretation of the detailed findings.
The University of Surrey is recognised as an Academic Centre for
Excellence in Cyber Security Research by the UK Government’s
National Cyber Security Centre.
The independent assurance report has been summarised by
independent consultants in a format suitable to be shared with
customers. To see the conclusions and access the report
please go to https://arqit.uk/investors/resources.
Professor Steve Schneider, Director of
the Surrey Centre for Cyber
Security, said, “We were pleased to verify the security
proof of Arqit’s design which we found to be excellent. The
technology represents a significant advance in secure
communications.”
Commenting, David Williams, Arqit CEO said,
“The completion of the independent review and validation of our
security proof is an extremely important moment, demonstrating that
our software delivers precisely the benefits we have
described. We prepared a summarised version of this with our
consultants which can be accessed by prospective customers
here: https://arqit.uk/investors/resources/. It is very
timely since the White House announced a National Security
Memorandum last week advising agencies to upgrade to symmetric key
encryption – which is precisely what Arqit does. Our key
agreement software produces keys which are used within symmetric
key algorithms which are already globally standardised and widely
used – it is the method of scaled end point creation of keys that
is novel with QuantumCloud™. We are ready to solve the
problems of legacy encryption, and moving to market in partnership
with some great companies, and this week demonstrated the ease with
which our products can be integrated with vendors’ products, also
noted on our website this week at:
www.arqit.uk/news/in-the-news/.”
About Arqit
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™, enables any device to download a lightweight
software agent, which can create encryption keys in partnership
with any other device. The keys are computationally secure,
optionally one-time use and zero trust. QuantumCloud™ 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™ is every
connected device.
Media relations
enquiries:Arqit:
contactus@arqit.ukFTI Consulting:
scarqit@fticonsulting.com
Investor relations
enquiries:Arqit:
investorrelations@arqit.uk Gateway:
arqit@gatewayir.com
Caution About Forward-Looking
Statements
This communication includes forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. All statements, other than statements of
historical facts, may be forward-looking statements. These
forward-looking statements are based on Arqit’s expectations and
beliefs concerning future events and involve risks and
uncertainties that may cause actual results to differ materially
from current expectations. These factors are difficult to predict
accurately and may be beyond Arqit’s control. Forward-looking
statements in this communication or elsewhere speak only as of the
date made. New uncertainties and risks arise from time to time, and
it is impossible for Arqit to predict these events or how they may
affect it. Except as required by law, Arqit does not have any duty
to, and does not intend to, update or revise the forward-looking
statements in this communication or elsewhere after the date this
communication is issued. In light of these risks and uncertainties,
investors should keep in mind that results, events or developments
discussed in any forward-looking statement made in this
communication may not occur. Uncertainties and risk factors that
could affect Arqit’s future performance and cause results to differ
from the forward-looking statements in this release include, but
are not limited to: (i) the outcome of any legal proceedings that
may be instituted against the Arqit related to the business
combination, (ii) the ability to maintain the listing of Arqit’s
securities on a national securities exchange, (iii) changes in the
competitive and regulated industries in which Arqit operates,
variations in operating performance across competitors and changes
in laws and regulations affecting Arqit’s business, (iv) the
ability to implement business plans, forecasts, and other
expectations, and identify and realize additional opportunities,
(v) the potential inability of Arqit to convert its pipeline into
contracts or orders in backlog into revenue, (vi) the potential
inability of Arqit to successfully deliver its operational
technology which is still in development, (vii) the risk of
interruption or failure of Arqit’s information technology and
communications system, (viii) the enforceability of Arqit’s
intellectual property, and (ix) other risks and uncertainties set
forth in the sections entitled “Risk Factors” and “Cautionary Note
Regarding Forward-Looking Statements” in Arqit’s annual report on
Form 20-F (the “Form 20-F”), filed with the U.S. Securities
and Exchange Commission (the “SEC”) on December 16,
2021 and in subsequent filings with the SEC. While the
list of factors discussed above and in the Form 20-F and other SEC
filings are considered representative, no such list should be
considered to be a complete statement of all potential risks and
uncertainties. Unlisted factors may present significant additional
obstacles to the realization of forward-looking statements.
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