Quantum Computing, Inc. Secures Third and Fourth Purchase Orders for TFLN Photonic Chip Foundry, Concluding 2024 Pilot Launch Program

HOBOKEN, N.J., Jan. 7, 2025 /PRNewswire/ -- Quantum Computing Inc. ("QCi" or the "Company") (Nasdaq: QUBT), an innovative, integrated photonics and quantum optics technology company, today announced the receipt of its third and fourth purchase orders for its thin film lithium niobate (TFLN) photonic chip foundry. The orders, received from a renowned European technical university and a Canadian photonic integrated circuit (PIC) design house, mark a key milestone in the QCi Foundry Pilot Launch Program.

The university will leverage QCi's expertise in periodically poled lithium niobate (PPLN) structures, essential for optical frequency conversion and entangled photon generation, with a specific focus on adopting TFLN for advanced telecommunications applications. These structures are strategically important for the QCi Foundry's roadmap and wafer-scale technology, and their high-yield production is critical to QCi's long-term plans in quantum applications.

The commercial order from the Canadian PIC design company represents the first order from a non-research-based customer and includes the taping out of a custom TFLN PIC chip. The expected delivery is set for Q2 2025 and provides priority access to a future multi-project wafer run anticipated to launch in the second half of 2025.

"The QCi Foundry Pilot Launch Program has generated customer engagement from both research and commercial sectors, establishing a pipeline of future opportunities for these foundry services," stated Dr. Pouya Dianat, Director of PICs and Foundry Services at QCi. "We are excited to leverage these engagements as QCi officially launches its full foundry services in Q1 2025, and we are confident that this will be a pivotal year for the Company's growth. We anticipate converting this pipeline into orders as we continue to expand our foundry services throughout 2025."

As 2025 begins, QCi is also proud to announce that the Company has completed the partial delivery of its first foundry customer's order in December 2024. The order, which was shipped to the customer based in Asia, includes TFLN PIC chips comprised of passive elements, such as ring resonators and waveguides.

Over the past year, QCi has made substantial strides in advancing its TFLN technology at its US-based semiconductor foundry in Tempe, Arizona, setting the stage for growth in 2025 as its foundry services come online. Scheduled to begin full-scale production in Q1 2025, this facility will be dedicated to the manufacturing of high-performance photonic chips and expanding the capabilities and capacity of TFLN devices. QCi plans to work closely with its clients on baseline commercial TFLN chip products as well as customer-unique designs through its foundry service offering, leveraging its expertise in design, fabrication, and characterization. In addition, QCi plans to showcase its foundry services at the upcoming SPIE Photonics West 2025, the world's largest photonics technologies event, to be held in San Francisco, California later this month.

To learn more about the QCi Foundry or to explore collaboration opportunities with QCi and its foundry services, please visit the QCi Foundry webpage.

About Quantum Computing Inc.

Quantum Computing Inc. (Nasdaq: QUBT) is an innovative, integrated photonics and quantum optics technology company that provides accessible and affordable quantum machines to the world today. QCi's products are designed to operate at room temperature and low power at an affordable cost. The Company's portfolio of core technology and products offer unique capabilities in the areas of high-performance computing, artificial intelligence, and cybersecurity, as well as remote sensing applications.

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. These forward-looking statements and forecasts, generally identified by terms such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," "aim to," or variations of these or similar words, involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Those statements include statements regarding the intent, belief, or current expectations of QCi 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, including the timing of commencing production at our TFLN fabrication facility, and the outcome of ongoing collaborations and demonstration projects, and that actual results may differ materially from those contemplated by such forward-looking statements. Except as required by federal securities law, QCi undertakes no obligation to update or revise forward-looking statements to reflect changed conditions.

SOURCE Quantum Computing Inc.