Daily Archives: February 25, 2021

Gillian Tan(Bloomberg) --IonQ is in advanced talks to merge with blank-check company DMY Technology Group Inc. III, according to people with knowledge of the matter, creating one of the first public quantum-computing firms.

The combined company is slated to be worth about $2 billion and a deal is set to be announced in coming weeks, said one of the people, who asked not to be identified because the matter is private. Silver Lake, MSD Partners, Bill Gatess Breakthrough Energy and an affiliate of Hyundai Motor Co. are in talks to participate in a so-called strategic private investment in public equity, or PIPE.

Related: Data Center Provider Cyxtera to Go Public Via $3.4B Starboard SPAC Deal

Shares of the SPAC surged 15% at 10:24 a.m. in New York.

DMY Technology is discussing raising additional equity from institutional investors, and new equity from strategic and institutional investors is set to total around $300 million, one of the people said. Existing IonQ investors are expected to roll their equity into the transaction, according to one of the people.

Related: Quantum Teleportation Makes Progress, But Toward What?

As with any deal that hasnt been finalized, its possible terms change or talks fall apart. Representatives for IonQ and DMY declined to comment, as did spokesmen for Silver Lake and MSD Partners. Representatives of Hyundai and Breakthrough Energy Ventures didnt immediately respond to requests for comment.

The SPAC, led by Chairman Harry You and Chief Executive Officer Niccolo De Masi, raised $300 million in November and said at the time it would pursue a target in consumer technology.

College Park, Maryland-based IonQ was founded in 2015 by Chris Monroe and Jungsang Kim and is led by CEO Peter Chapman. Its investors include AmazonWebServices, Samsung Catalyst Fund, GV (formerly known as Google Ventures), NEA, Lockheed Martin Corp., Airbus Ventures and Robert Bosch Venture Capital GmbH. IonQ in October unveiled what it describes as the worlds most powerful quantum computer.

Quantum has long been touted as the next frontier in technology. Such computers would be capable of simulating and understanding phenomena in the natural world instantly and providing the basis for systems that are unhackable. Intel Corp. and Microsoft Corp., among other companies, are also working to advance quantum computing. The technology also has potential implications for producing new materials or creating new drugs.

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Quantum Computing Startup IonQ in Talks to Go Public Through Merger with DMY SPAC - Data Center Knowledge

LEESBURG, Va., Feb. 23, 2021 (GLOBE NEWSWIRE) -- Quantum Computing Inc. (OTCQB: QUBT) (QCI), a leader in bridging the power of classical and quantum computing, has appointed finance and capital markets industry leader, Robert B. Fagenson, to serve on the companys board of directors and as chair of its audit committee.

Following his appointment, QCIs board now has five directors with three serving independently. The appointment advances the company toward satisfying the requirements of its application to list its shares on the Nasdaq Capital Market.

Fagenson brings to QCI over 50 years of executive leadership experience, with a deep understanding of public company governance gained from having served most of his career in senior positions at the New York Stock Exchange (NYSE) and as head of other leading capital market organizations.

Since 2014, Fagenson has held various executive positions including chairman, executive vice chairman and CEO, and is presently the non-executive vice chairman of National Holdings Corporation (NASDAQ: NHLD), a leading full-service investment banking and asset management firm with subsidiaries that include National Securities Corporation, founded in 1947.

Fagenson is also the chairman, president and CEO of Fagenson & Co., which for 50 years has been engaged in institutional brokerage, investment banking and money management.

Fagenson spent the early part of his career at the NYSE, where he was the managing partner of one of the largest specialist firms operating on the trading floor. As a member of the NYSE, he served as a floor governor. He was elected to the NYSE board of directors in 1993 and eventually served as vice chairman for several years.

The QCI team is fortunate to have Robert, a corporate leader of tremendous stature and experience, join the board of directors at this pivotal moment in the companys growth, stated QCI chairman, president and CEO, Robert Liscouski. His extraordinary executive and governance experience brings us invaluable knowledge, insights and relationships in the worlds of business, finance and the capital markets.

As our new board member and audit committee chair, he will help guide our financial and operational development as we focus on scaling our business and pursuing the many growth opportunities ahead in the rapidly evolving quantum space.

As an early investor in the company, I have come to admire QCIs exceptional leadership and technical teams, and appreciate the tremendous shareholder value they have created with their groundbreaking software for quantum computing, said Fagenson. Im excited to now become a greater part of its journey toward growth and success, and especially as businesses, including many in the capital markets, are now increasingly looking to quantum computing to solve many of their most challenging operational problems.

Fagenson is also on the boards of several non-profit organizations, including Sports & Arts in Schools Foundation, Federal Law Enforcement Officers Association Foundation, National Organization of Investment Professionals, and the Conservation Committee of MOMA.

He received his B.S. degree in Transportation Sciences and Finance from Syracuse University, and serves on the alumni boards of the universitys Whitman School of Business and SU Athletics.

As the first and still only public pure-play quantum computing software company, QCI has introduced the first commercially available software that delivers superior performance by bridging the respective strengths of classical and quantum computing.

QCI recently announced the commercial availability of its proprietary Qatalyst, a first of its kind quantum application accelerator. Qatalyst eliminates the expensive and complex programming of new quantum workflows and allows businesses to reap the performance benefits of quantum techniques without the need to master quantum programming. To learn more about how Qatalyst can deliver results for your business, go to quantumcomputinginc.com.

About Quantum Computing Inc.Quantum Computing Inc. (QCI) is focused on accelerating the value of quantum computing for real-world business solutions. The company has developed the first software to bridge the power of classical and quantum computing, hiding complexity and empowering subject matter experts (SMEs) to solve complex computational problems. QCIs expert team in finance, computing, security, mathematics and physics with years of experience with complex technologies, from leading edge supercomputing innovations, to massively parallel programming and cyber security that protects nations. For more information about QCI, visit http://www.quantumcomputinginc.com.

Important Cautions Regarding Forward-Looking StatementsThis 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 Quantum Computing (Company), 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.

The Company 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. Any statements in this press release that are not statements of historical fact may be considered to be forward-looking statements. 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 the Companys Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in the Companys filings with the SEC.

Qatalyst is a trademark of Quantum Computing Inc. All other trademarks are the property of their respective owners.

Company Contact:Robert Liscouski, CEOQuantum Computing, Inc.+1 (703) 436-2161info@quantumcomputinginc.com

Investor Relations Contact:Ron Both or Grant StudeCMA Investor Relations+1 (949) 432-7566Email Contact

Media Relations Contact:Seth MenackerFusion Public Relations+1 (201) 638-7561qci@fusionpr.com

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Quantum Computing Inc. Appoints Robert B. Fagenson, National Holdings Vice Chairman and Former NYSE Floor Governor and Vice Chairman, to its Board of...

The Colorado Economic Development Commission normally doesnt throw its weight behind unproven startups, but it did so on Thursday, approving $2.9 million in state job growth incentive tax credits to try and land a manufacturing plant that will produce hardware for quantum computers.

Given the broad applications and catalytic benefits that this companys technology could bring, retaining this company would help position Colorado as an industry leader in next-generation and quantum computing, Michelle Hadwiger, the deputy director of the Colorado Office of Economic Development & International Trade, told commissioners.

Project Quantum, the codename for the Denver-based startup, is looking to create up to 726 new full-time jobs in the state. Most of the positions would staff a new facility making components for quantum computers, an emerging technology expected to increase computing power and speed exponentially and transform the global economy as well as society as a whole.

The jobs would carry an average annual wage of $103,329, below the wages other technology employers seeking incentives from the state have provided, but above the average annual wage of any Colorado county. Hadwiger said the company is also considering Illinois, Ohio and New York for the new plant and headquarters.

Quantum computing is going to be as important to the next 30 years of technology as the internet was to the past 30 years, said the companys CEO, who only provided his first name Corban.

He added that he loves Colorado and doesnt want to see it surpassed by states like Washington, New York and Illinois in the transformative field.

If we are smart about it, and that means doing something above and beyond, we can win this race. It will require careful coordination at the state and local levels. We need to do something more and different, he said.

The EDC also approved $2.55 million in job growth incentive tax credits and $295,000 in Location Neutral Employment Incentives for Nextworld, a growing cloud-based enterprise software company based in Greenwood Village. The funds are linked to the creation of 306 additional jobs, including 59 located in more remote parts of the state.

But in a rare case of dissent, Nextworlds CEO Kylee McVaney asked the commission to go against staff recommendations and provide a larger incentive package.

McVaney, daughter of legendary Denver tech entrepreneur Ed McVaney, said the companys lease is about to expire in Greenwood Village and most employees would prefer to continue working remotely. The company could save substantial money by not renewing its lease and relocating its headquarters to Florida, which doesnt have an income tax.

We could go sign a seven-year lease and stay in Colorado or we can try this new grand experiment and save $11 million, she said.

Hadwiger insisted that the award, which averages out to $9,500 per job created, was in line with the amount offered to other technology firms since the Colorado legislature tightened the amount the office could provide companies.

But McVaney said the historical average award per employee was closer to $18,000 and the median is $16,000 and that Colorado was not competitive with Florida given that states more favorable tax structure.

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Colorado makes a bid for quantum computing hardware plant that would bring more than 700 jobs - The Denver Post

IBM announced that bp has joined the IBM Quantum Network to advance the use of quantum computing in the energy industry. IBM Quantum is an industry-first initiative to build universal quantum systems for business and science applications.

By joining the IBM Quantum Network as an Industry Partner, bp will have access to IBMs quantum expertise and software and cloud-based access to the most advanced quantum computers available via the cloud. This includes access to a premium 65-qubit quantum computer, the largest universal quantum system available to industry today, and an important milestone on the IBM Quantum roadmap to a 1,000-plus qubit system (IBM Quantum Condor), targeted for the end of 2023.

ExxonMobil and Daimler are also IBM Quantum Network Industry Partners.

bp will work with IBM to explore using quantum computing to solve business and engineering challenges and explore the potential applications for driving efficiencies and reducing carbon emissions.

bps ambition is to become a net zero company by 2050 or sooner and help the world get to net zero. Next-generation computing capabilities such as quantum computing will assist in solving the science and engineering challenges we will face, enabling us to reimagine energy and design new lower carbon products.

Morag Watson, senior vice president, digital science and engineering for bp

Quantum computing has the potential to be applied in areas such as: modeling the chemistry and build-up of various types of clay in hydrocarbon wellsa crucial factor in efficient hydrocarbon production; analyzing and managing the fluid dynamics of wind farms; optimizing autonomous robotic facility inspection; and helping create opportunities not yet imagined to deliver the clean energy the world wants and needs.

In 2020, bp announced its net zero ambition and its new strategy. By the end of this decade, it aims to have developed around 50 gigawatts of net renewable-generating capacity (a 20-fold increase), increased annual low carbon investment 10-fold to around $5 billion and cut its oil and gas production by 40%.

Joining the IBM Quantum Network will enhance bps ability to leverage quantum advances and applications as they emerge and then influence on how those breakthroughs can be applied to its industry and the energy transition.

bp joins a rapidly growing number of clients working with IBM to explore quantum computing to help accelerate the discovery of solutions to some of todays biggest challenges. The energy industry is ripe with opportunities to see value from the use of quantum computing through the discovery of new materials designed to improve the generation, transfer, and storage of energy.

Dario Gil, Senior Vice President and Director of IBM Research

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bp joins the IBM Quantum Network to advance use of quantum computing in energy - Green Car Congress

Pacific Northwest National Laboratory computer scientist Sriram Krishnamoorthy. (PNNL Photo)

Imagine a future where new therapeutic drugs are designed far faster and at a fraction of the cost they are today, enabled by the rapidly developing field of quantum computing.

The transformation on healthcare and personalized medicine would be tremendous, yet these are hardly the only fields this novel form of computing could revolutionize. From cryptography to supply-chain optimization to advances in solid-state physics, the coming era of quantum computers could bring about enormous changes, assuming its potential can be fully realized.

Yet many hurdles still need to be overcome before all of this can happen. This one of the reasons the Pacific Northwest National Laboratory and Microsoft have teamed up to advance this nascent field.

The developer of the Q# programming language, Microsoft Quantum recently announced the creation of an intermediate bridge that will allow Q# and other languages to be used to send instructions to different quantum hardware platforms. This includes the simulations being performed on PNNLs own powerful supercomputers, which are used to test the quantum algorithms that could one day run on those platforms. While scalable quantum computing is still years away, these simulations make it possible to design and test many of the approaches that will eventually be used.

We have extensive experience in terms of parallel programming for supercomputers, said PNNL computer scientist Sriram Krishnamoorthy. The question was, how do you use these classical supercomputers to understand how a quantum algorithm and quantum architectures would behave while we build these systems?

Thats an important question given that classical and quantum computing are so extremely different from each other. Quantum computing isnt Classical Computing 2.0. A quantum computer is no more an improved version of a classical computer than a lightbulb is a better version of a candle. While you might use one to simulate the other, that simulation will never be perfect because theyre such fundamentally different technologies.

Classical computing is based on bits, pieces of information that are either off or on to represent a zero or one. But a quantum bit, or qubit, can represent a zero or a one or any proportion of those two values at the same time. This makes it possible to perform computations in a very different way.

However, a qubit can only do this so long as it remains in a special state known as superposition. This, along with other features of quantum behavior such as entanglement, could potentially allow quantum computing to answer all kinds of complex problems, many of which are exponential in nature. These are exactly the kind of problems that classical computers cant readily solve if they can solve them at all.

For instance, much of the worlds electronic privacy is based on encryption methods that rely on prime numbers. While its easy to multiply two prime numbers, its extremely difficult to reverse the process by factoring the product of two primes. In some cases, a classical computer could run for 10,000 years and still not find the solution. A quantum computer, on the other hand, might be capable of performing the work in seconds.

That doesnt mean quantum computing will replace all tasks performed by classical computers. This includes programming the quantum computers themselves, which the very nature of quantum behaviors can make highly challenging. For instance, just the act of observing a qubit can make it decohere, causing it to lose its superposition and entangled states.

Such challenges drive some of the work being done by Microsoft Azures Quantum group. Expecting that both classical and quantum computing resources will be needed for large-scale quantum applications, Microsoft Quantum has developed a bridge they call QIR, which stands for quantum intermediate representation. The motivation behind QIR is to create a common interface at a point in the programming stack that avoids interfering with the qubits. Doing this makes the interface both language- and platform-agnostic, which allows different software and hardware to be used together.

To advance the field of quantum computing, we need to think beyond just how to build a particular end-to-end system, said Bettina Heim, senior software engineering manager with Microsoft Quantum, during a recent presentation. We need to think about how to grow a global ecosystem that facilitates developing and experimenting with different approaches.

Because these are still very early days think of where classical computing was 75 years ago many fundamental components still need to be developed and refined in this ecosystem, including quantum gates, algorithms and error correction. This is where PNNLs quantum simulator, DM-SIM comes in. By designing and testing different approaches and configurations of these elements, they can discover better ways of achieving their goals.

As Krishnamoorthy explains: What we currently lack and what we are trying to build with this simulation infrastructure is a turnkey solution that could allow, say a compiler writer or a noise model developer or a systems architect, to try different approaches in putting qubits together and ask the question: If they do this, what happens?

Of course, there will be many challenges and disappointments along the way, such as an upcoming retraction of a 2018 paper in the journal, Nature. The original study, partly funded by Microsoft, declared evidence of a theoretical particle called a Majorana fermion, which could have been a major quantum breakthrough. However, errors since found in the data contradict that claim.

But progress continues, and once reasonably robust and scalable quantum computers are available, all kinds of potential uses could become possible. Supply chain and logistics optimization might be ideal applications, generating new levels of efficiency and energy savings for business. Since quantum computing should also be able to perform very fast searches on unsorted data, applications that focus on financial data, climate data analysis and genomics are likely uses, as well.

Thats only the beginning. Quantum computers could be used to accurately simulate physical processes from chemistry and solid-state physics, ushering in a new era for these fields. Advances in material science could become possible because well be better able to simulate and identify molecular properties much faster and more accurately than we ever could before. Simulating proteins using quantum computers could lead to new knowledge about biology that would revolutionize healthcare.

In the future, quantum cryptography may also become common, due to its potential for truly secure encrypted storage and communications. Thats because its impossible to precisely copy quantum data without violating the laws of physics. Such encryption will be even more important once quantum computers are commonplace because their unique capabilities will also allow them to swiftly crack traditional methods of encryption as mentioned earlier, rendering many currently robust methods insecure and obsolete.

As with many new technologies, it can be challenging to envisage all of the potential uses and problems quantum computing might bring about, which is one reason why business and industry need to become involved in its development early on. Adopting an interdisciplinary approach could yield all kinds of new ideas and applications and hopefully help to build what is ultimately a trusted and ethical technology.

How do you all work together to make it happen? asks Krishnamoorthy. I think for at least the next couple of decades, for chemistry problems, for nuclear theory, etc., well need this hypothetical machine that everyone designs and programs for at the same time, and simulations are going to be crucial to that.

The future of quantum computing will bring enormous changes and challenges to our world. From how we secure our most critical data to unlocking the secrets of our genetic code, its technology that holds the keys to applications, fields and industries weve yet to even imagine.

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How researchers are mapping the future of quantum computing, using the tech of today - GeekWire

During Engineers Week, the Defense Department is highlighting its efforts to develop a diverse and well-educated future engineering workforce and to increase understanding of and interest in engineering and technology.

Quantum science is important for the Defense Department because of the revolutionary technologies that it will bring to warfighters, the principal director for quantum science in the office of the undersecretary of defense for research and engineering said in an interview recently.

Among the technologies in development are advances in quantum computing and networks that are many times more effective at encrypting or decrypting today's communications, Paul Lopata said.

DOD scientists and civilian partners are working with the National Institute of Standards and Technology to develop new cryptographic standards that ensure information stays private, he added.

Quantum sensors are another exciting future possibility that could be used for such things as missile and aircraft tracking, as well as more advanced gyros and accelerometers, he said.

"We're just starting to understand the possibilities," he said.

An application where quantum science is used today is in powering the atomic clocks used by GPS satellites, which must be precisely synchronized. Lopata said that's important because military systems such as aircraft and missiles need to have a great deal of precision, navigation and timing.

Lopata likened quantum science to the military's first use of electricity in the 1800s, which was used to power telegraphs the first information technology of its kind that greatly improved long distance command, control and communications.

Of course, the U.S. isn't the only nation pursuing quantum science for military use, he said. So-called great power competitors Russia and China are, as well.

Fortunately, so are our allies and partners, he said, meaning that these nations can and are collaborating on some of these quantum science projects.

In the U.S., the department is leveraging academia and the private sector to advance quantum science, Lopata said. DOD's efforts are concentrated in each of the service's research laboratories and engineering departments, as well as organizations that include the Defense Advanced Research Projects Agency.

There's a wide range of basic scientists, applied scientists and engineers looking to understand how the department can take advantage of quantum science and apply it to current and new systems, he said.

"DOD is a top tier place to be a quantum scientist because of the broad possibilities for research, the opportunity to pioneer new technologies, and the ability to serve our country," he said.

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Quantum Science to Deliver Cutting-Edge Technology to Warfighters, Official Says - Department of Defense

PUNE, India, Feb. 24, 2021 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Global Cryogen Free Dilution Refrigerators Marketby Types (Base Temperature Less Than 10 mK, Base Temperature Between 10 - 20 mK, Base Temperature between 21 - 80 mK, and Base Temperature Above 80 mK), Applications (Nano Research, Quantum Computing, Low Temperature Detection, and Others) and Regions: Size, Share, Trends, and Opportunity Analysis, 2020-2027", the market was valued at USD 112.1 Million in 2019 and is anticipated to expand at a CAGR of 9.1% between 2020 and 2027. On the basis of volume, global cryogen free dilution refrigerators market is anticipated to expand at a CAGR of 8.1% during the forecast period. Rise in the investment in R&D for developing quantum computing applications and quantum computer is expected to increases the demand for cryogen free dilution refrigerators.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Download PDF Sample here:https://growthmarketreports.com/request-sample/207

This report also includes a complete analysis of industry players that cover their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping them to expand their market share.

Highlights on the segments of the Cryogen Free Dilution Refrigerators Market

The global cryogen free dilution refrigerators market is segmented into types, applications, and regions.

On the basis of types,the market has been divided into base temperature less than 10 mK, base temperature between 10 - 20 mK, base temperature between 21 - 80 mK, and base temperature above 80 mK.

In terms of applications,the global cryogen free dilution refrigerators market has classified as nano research, quantum computing, low temperature detection, and others.

By region,cryogen free dilution refrigerators market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA).

North America region is further bifurcated into countries such as the U.S., and Canada. The Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, the Asia Pacific is further segmented into, China, Japan, South Korea, India, Australia, South East Asia (SEA), and Rest of Asia Pacific (APAC). The European region is further categorized into Germany, France, U.K., Spain, Russia, and Rest of Europe, and the Rest of Europe, and the MEA region is further divided into Saudi Arabia, South Africa, UAE, and the Rest of MEA.

To Buy the Complete Report: https://growthmarketreports.com/report/cryogen-free-dilution-refrigerators-market-global-industry-analysis

Cryogen free dilution refrigerators have become one of the integral and dominant components in the technological world owing to their effectiveness in cooling technical parts for relevant research fields. In the last few years, the use of cryogen free dilution refrigerators has been useful in various scientific quantum computers around the world, as it helps detect the behaviour and nature of energy and matter at the quantum level. Cryogen free dilution refrigerators use Helium-4 and Helium-3 isotopes in the place of liquid helium and liquid nitrogen for continuous & excessive cooling.

Key Takeaways from the Study:

Read 187 Pages Research Report with Detailed ToC on"Global Cryogen Free Dilution Refrigerators Market by Types (Base Temperature Less Than 10 mK, Base Temperature Between 10 - 20 mK, Base Temperature between 21 - 80 mK, and Base Temperature Above 80 mK), Applications (Nano Research, Quantum Computing, Low Temperature Detection, and Others) and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)"

For Any Questions on This Report: https://growthmarketreports.com/enquiry-before-buying/207

Key Segments Covered

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By Region

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Global Cryogen Free Dilution Refrigerators Market Expected to Reach USD 211.4 Million by 2027 With A CAGR Of 9.1% | Growth Market Reports - PRNewswire