Project to Demonstrate Applied Quantum Computing for Real-World Problem Solutions
RICHMOND, VA. / LEESBURG, VA. – October 5, 2022 – The Virginia Innovation Partnership Corporation (VIPC) announced today a partnership with Quantum Computing Inc. (QCI) (NASDAQ: QUBT), a Virginia-based emerging leader in accessible quantum computing, to determine optimal flight trajectories for unmanned aerial vehicles leveraging QCI’s Path to Quantum consulting, Qatalyst™ software, and Quantum Photonic Systems hardware.
QCI will apply its quantum photonic systems to a critical risk-management use case involving the selection of flight trajectories for unmanned aerial vehicles. Under this effort QCI will identify the optimal time, speed, and route for drone aircraft to traverse among destinations, while satisfying airspace constraints and minimizing risks related to weather, obstacles, and other aircraft through the use of QCI’s Entropy Quantum Computing (EQC) systems.
Risk-based decision making is a real-world problem identified as a key strategic priority by the Federal Aviation Administration. QCI’s Entropy Quantum Computing systems are well-suited to solving complex optimization problems, and show the potential to quickly identify optimized flight paths that minimize costs and in-flight risks.
VIPC is the nonprofit commercialization and seed stage economic development driver in the Commonwealth that leads funding, infrastructure, and policy initiatives to support Virginia’s innovators, entrepreneurs, startups, and market development strategies. VIPC collaborates with local, regional, state, and federal partners to support the expansion and diversification of Virginia’s economy and at the development of emerging technologies like quantum computing within the Commonwealth of Virginia to improve competitiveness and attract more commercial opportunities to the state.
As a part of this project, QCI and VIPC plan to leverage sensor and micro-weather data collected by the Virginia Flight Information Exchange (VA-FIX), an information hub focused on providing authoritative state and local data in support of unmanned aerial systems. VIPC sees these components as key leading-edge technologies for advanced air mobility in Virginia.
“Our partnership with Virginia-based company QCI is designed to test and discover the impact of quantum computing solutions on complex problems,” said David Ihrie, CTO and VP for Strategic Initiatives at VIPC. “Emerging technology will require faster, more efficient quantum computing solutions. We are working to ensure Virginia is prepared for safe and efficient technology integration.”
“VIPC and the Commonwealth of Virginia have demonstrated their technology leadership with this project, focusing on real world problems involving quantum computing. QCI is excited about the opportunity to partner with VIPC on this project,” stated Robert Liscouski, CEO of QCI. “QCI is eager to demonstrate that quantum computing offers business solutions for today’s problems, not just in the sense of computing power, but in other applications including LiDAR and quantum networks.”
About Virginia Innovation Partnership Corporation (VIPC)
Connecting innovators with opportunities. The nonprofit operations arm of the Virginia Innovation Partnership Authority (VIPA), VIPC is the commercialization and seed stage economic development driver in the Commonwealth that leads funding, infrastructure, and policy initiatives to support Virginia’s innovators, entrepreneurs, startups, and market development strategies. VIPC collaborates with local, regional, state, and federal partners to support the expansion and diversification of Virginia’s economy.
Programs include: Virginia Venture Partners (VVP) | Virginia Founders Fund (VFF) |Commonwealth Commercialization Fund (CCF) | Smart Communities | Unmanned Systems | Entrepreneurial Ecosystems | Regional Innovation Fund (RIF) | Federal Funding Assistance Program (FFAP) for SBIR & STTR | University Partnerships | Startup Company Mentoring & Engagement. For more information, please visit www.VirginiaIPC.org. Follow VIPC on Twitter, LinkedIn, and Facebook.
About Quantum Computing Inc.
Quantum Computing Inc. (QCI) (NASDAQ: QUBT) is a full-stack quantum software and hardware company on a mission to accelerate the value of quantum computing for real-world industry applications, delivering the future of quantum computing, today. The combination of QCI’s flagship ready-to-run software product, Qatalyst with its industry-leading Entropy Quantum Computing (EQC) system, Dirac 1, provides a broadly accessible and affordable enterprise quantum solution capable of solving real business problems now. QCI’s expert team in finance, computing, security, mathematics and physics has over a century of combined experience with complex technologies; from leading edge supercomputing, to precision sensors and imaging technology, to the security that protects nations. For more information about QCI, visit www.quantumcomputinginc.com.
Important Cautions Regarding Forward-Looking Statements
This 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 Inc. (the “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 Company’s Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in the Company’s filings with the SEC.
Qatalyst™ is the trademark of Quantum Computing Inc. All other trademarks are the property of their respective owners.
QCI Company Contact:
Robert Liscouski, CEO
Quantum Computing, Inc.
+1 (703) 436-2161
QCI Investor Relations Contact:
Ron Both or Grant Stude
CMA Investor Relations
+1 (949) 432-7566
QCI Media Relations Contact:
Fusion Public Relations
+1 (201) 638-7561
VIPC Media Relations Contact:
VP of Communications & Marketing, VIPC
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