- D-Wave is the world’s first commercial supplier of quantum computing solutions
- D-Wave’s customers have built quantum and quantum-hybrid applications in areas such as resource scheduling, mobility, logistics, drug discovery, portfolio optimization, manufacturing processes, and more
- Using D-Wave’s annealing quantum computing solutions, SavantX was able to increase deliveries per crane per day by 60% at Pier 300 at the Port of Los Angeles, one of the nation’s largest ports
D-Wave Quantum (NYSE: QBTS), a leader in quantum computing systems, software, and services, is helping customers solve highly complex business problems today, helping to drive operational efficiencies, reduce costs, and increase revenue. By harnessing the power of its proprietary annealing quantum computing technology, D-Wave is able to address challenging optimization problems across a wide range of use cases, including logistics, drug discovery, resource scheduling, manufacturing processes and financial modeling.
The company’s pursuit of practical quantum computing has resulted in its technology being used by some of today’s most advanced enterprises worldwide, including numerous Forbes Global 2000 companies. In a September 11, 2023 interview with Bloomberg Technology, D-Wave CEO Alan Baratz said that he believes quantum technology “is going to fundamentally transform the way businesses operate and have a huge impact on the social and economic environment,” (https://ibn.fm/GG7zI).
One area where D-Wave’s quantum computing solutions have been applied successfully is logistics optimization at Pier 300 at the Port of Los Angeles, the nation’s largest facility for handling shipborne cargo. In 2021, the equivalent of more than 10 million 20-foot container units were transferred from ships to trucks to take them to their inland destinations. At a time when supply chains face increased disruptions, efficiency is key to ensuring the movement of goods keeps pace. Quantum computing can offer an important approach for identifying solutions to complex logistical problems like those faced by the port.
SavantX used D-Wave’s quantum technology to explore efficiencies at Pier 300, one of the port’s largest terminals, creating an application that demonstrated efficiency gains by optimizing equipment usage and personnel while ensuring that containers were cleared from the port as quickly as possible. SavantX saw a 60% increase in deliveries per crane per day using quantum computing for logistical optimization. (https://ibn.fm/hTOHg).
“Not all problems are optimization problems, but for the ones that are, there’s a huge opportunity to bring value into the equation,” said Ed Heinbockel, CEO of SavantX. “We’ve tasted the power of quantum, and we’re very, very excited about it.”
Demonstrating the capabilities of its quantum and quantum-hybrid solutions in solving real-world problems, D-Wave’s website features numerous customer success stories to show the impact its technology is having today (https://ibn.fm/9ZbAm).
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
Forward-Looking Statements
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 potential of quantum technology to transform the way businesses operate and to impact the social and economic environment, and the opportunity for quantum technology to bring value when addressing optimization problems. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management’s control, including general economic conditions and other risks; the company’s ability to expand its customer base and the customer adoption of the company’s 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 us; 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 its products; the effects of competition on D-Wave’s business; the risk that the company 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 the company may never achieve or sustain profitability; the risk that the company is unable to secure or protect the company’s intellectual property; volatility in the price of the company’s securities; the risk that its 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 us on the date hereof. The company undertakes no duty to update this information unless required by law.
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