National Defense Authorization Act (“NDAA”) signed into law on December 22, 2023
NDAA includes quantum pilot program dedicated to near-term quantum computing applications, which D-Wave has already been developing, and calls for consideration of all quantum technologies (annealing, hybrid and gate model)
Legislation promotes cultivating and strengthening relationships between the Department of Defense, academic institutions, small enterprises, and unconventional defense contractors
D-Wave Quantum (NYSE: QBTS), the world’s first commercial supplier of quantum computers, software, and services, commends U.S. policymakers for including a groundbreaking quantum pilot program, dedicated to near-term quantum computing applications, as part of the National Defense Authorization Act (“NDAA”) signed into law December 22, 2023 (https://ibn.fm/5teyZ).
The initiative establishes a program that primarily focuses on developing near-term applications to tackle complex computational problems faced by the Department of Defense (“DOD”), including those affecting the Armed Forces. Its core objective is to assess, evaluate, and implement quantum and quantum-hybrid applications that address pressing issues within our defense, military, and national security domains. The program aims to meet the imminent requirements of our warfighters, with an emphasis on the utilization of all types of quantum technologies, including annealing quantum computing and quantum-hybrid technologies offered by D-Wave.
This legislation promotes cultivating and strengthening relationships between the DOD, academic institutions, small enterprises, and defense contractors. This is a noteworthy development, given the significant quantum innovation originating from small enterprises like D-Wave.
The pilot program is geared towards creating and advancing demonstrations, proof of concepts (“POCs”), and pilot projects that leverage all viable quantum computing systems. This will enable the U.S. Department of Defense to harness the most advanced quantum technology to achieve its mission objectives. D-Wave has already developed a range of global demos, POCs, and applications for governments and businesses, successfully addressing optimization challenges. The technology required to collaborate with the U.S. government is readily available.
For example, commercially accessible annealing quantum computing solutions have been employed by SavantX at the Port of Los Angeles to optimize cargo pier operations, addressing critical global supply chain issues. More use cases are highlighted on D-Wave’s website (https://ibn.fm/0okpD).
D-Wave and its customers have created near-term applications and demonstrations for various defense and public sector scenarios, such as last-mile resupply during emergency responses for the Australian Army, carbon emission reduction, and optimizing tsunami evacuation routes in Japan. Applications have also been developed to mitigate potential threats, including missile interceptor assignments and radar scheduling applications.
Dr. Alan Baratz, CEO of D-Wave, expressed his appreciation for this pivotal step. “We applaud Congress and the Administration for taking this critical step to accelerate the use of quantum to provide solutions for critical challenges facing DOD and our military. This bipartisan action also moves us closer to other global leaders who have already begun to build applications that benefit national security,” Dr. Baratz said. “D-Wave and its customers have already built several quantum-hybrid applications that can provide important benefits for the military, and we look forward to working with the government to advance this new pilot program.”
This innovative program aligns seamlessly with other Congressional initiatives related to quantum technology, emphasizing developing near-term applications and including annealing, gate-model, and quantum-hybrid technologies. These initiatives are expected to progress further in various pieces of legislation in the upcoming year.
For more information, visit the company’s website at www.DWaveQuantum.com.
NOTE TO INVESTORS: The latest news and updates relating to QBTS are available in the company’s newsroom at https://ibn.fm/QBTS
Certain statements in this press release are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially from the information expressed or implied by these forward-looking statements and may not be indicative of future results. Forward-looking statements in this press release include, but are not limited to, statements regarding the implementation of the initiatives established by the NDAA and the development and implementation of other Congressional initiatives related to quantum technology. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management’s control, including the successful implementation of the initiatives and programs established by the NDAA; whether the other pieces of legislation related to Congressional initiatives regarding quantum technology continue to proceed through the legislative process; general economic conditions and other risks; the company’s ability to expand its customer base and the customer adoption of its solutions; risks within D-Wave’s industry, including anticipated trends, growth rates, and challenges for companies engaged in the business of quantum computing and the markets in which they operate; the outcome of any legal proceedings that may be instituted against the company; risks related to the performance of the company’s business and the timing of expected business or financial milestones; unanticipated technological or project development challenges, including with respect to the cost and/or timing thereof; the performance of the company’s products; the effects of competition on the company’s business; the risk that D-Wave will need to raise additional capital to execute the company’s business plan, which may not be available on acceptable terms or at all; the risk that D-Wave may never achieve or sustain profitability; the risk that D-Wave is unable to secure or protect the company’s intellectual property; volatility in the price of the company’s securities; the risk that the company’s securities will not maintain the listing on the NYSE; and the numerous other factors set forth in D-Wave’s Annual Report on Form 10-K for its fiscal year ended December 31, 2022 and other filings with the Securities and Exchange Commission. Undue reliance should not be placed on the forward-looking statements in this press release in making an investment decision, which are based on information available to the company on the date hereof. D-Wave undertakes no duty to update this information unless required by law.
BillionDollarClub (“BDC”) is a specialized communications platform with a focus on the biggest and brightest companies covered by IBN. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, BDC is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists, and the general public. By cutting through the overload of information in today’s market, BDC brings its clients unparalleled recognition and brand awareness.
BDC is where breaking news, insightful content and actionable information converge.
To receive SMS alerts from BillionDollarClub, text “Billion” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://www.BillionDollarClub.com