Quantum Computing Inc Wholly Owned Subsidiary QI Solutions Joins the Industry-University Cooperative Research Center: Center for Quantum Technologies

LEESBURG, Va., April 6, 2023 /PRNewswire/ -- Quantum Computing Inc. (NASDAQ: QUBT), ("QCI" or the "Company"), a first-to-market full-stack photonic-based quantum computing and solutions company, today announces that its wholly owned subsidiary, QI Solutions, which focuses on federal projects, is joining the Center for Quantum Technologies (CQT) as a non-traditional defense company that offers a suite of quantum services, ranging from quantum computing to quantum sensing, imaging, and cybersecurity.

The Center for Quantum Technologies is a National Science Foundation sponsored initiative with engineers and scientists from Purdue University, Indiana University, the University of Notre Dame, and Indiana University Purdue University – Indianapolis. These four universities will work with industry members such as Quantum Computing Inc.'s QI Solutions (QIS), the Air Force Research Laboratory, Amazon Web Services, Eli Lilly, Cummins, Toyota, Northrup Grumman, and IBM Quantum to transfer foundational quantum knowledge into novel quantum technologies that address industry and defense challenges. QI Solutions is excited to guide CQT and its partners with a unique portfolio of quantum photonic communications, cryptography, computing, and sensing solutions. QI Solutions will use its expertise in applying these technologies to assist CQT in advancing industry-relevant quantum devices, systems, and algorithms.

"QiSolutions has strategically developed relationships with key partners and academic institutions to align resources to pursue and win federal contract opportunities. QiSolutions will be one of the key quantum technology providers for these partnerships and this alliance sets the foundation to pursue a number of US Government, and DoD work that we expect to be awarded this fiscal year," commented Sean Gabeler, President of QiSolutions.

For additional information on the company's suite of solutions, please visit our website or contact our team directly.

About Quantum Computing Inc.

QCI is a full-stack quantum software and hardware company on a mission to accelerate the value of quantum computing for real-world business solutions, delivering the future of quantum computing, today. The company is on a path to delivering an accessible and affordable full-stack solution with real-world industrial applications, using quantum entropy, which can be used anywhere and with little to no training. QCI's experts in finance, computing, security, mathematics and physics have over a century of experience with complex technologies ranging 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.

About Quantum Innovative Solutions

QIS, a wholly owned subsidiary of Quantum Computing Inc., is a newly established supplier of quantum technology solutions and services to the government and defense industries. With a team of qualified and cleared staff, QIS delivers a range of solutions from entropy quantum computing to quantum communications and sensing, backed by expertise in logistics, manufacturing, R&D and training. The company is exclusively focused on delivering tailored solutions for partners in various government departments and agencies.

About Center for Quantum Technologies

CQT is an Industry-University Cooperative Research Center (IUCRC) designed to focus academic creativity and innovation on addressing fundamental industry problems and concerns. Together, CQT's four partner institutions will enable industrially relevant, pre-competitive research through industry, academia, and government partnerships. The Center will foster the next generation of quantum scientists and has over 100 faculty members engaged in quantum science and engineering. By partnering with industry, CQT can leverage the interdisciplinary expertise of the students and faculty to develop a network of capabilities that will appeal to any industry or government member. With funding and direction from industry members, CQT focuses on a portfolio of quantum technologies such as security, finance, business, chemistry, sensing, communications, and networks.

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.

SOURCE Quantum Computing Inc.