LEESBURG, Va., Sept. 5,
2023 /PRNewswire/ -- Quantum Computing Inc. ("QCi" or
the "Company") (Nasdaq: QUBT), an innovative, quantum optics and
nanophotonics technology company, today announced the signing of a
strategic sales and teaming agreement with AI-empowered
cybersecurity assessment, continuous detection, and mitigation
company, Assured Cyber Protection Ltd ("Recyber").
The key objective of the strategic sales and teaming agreement
between QCi and Recyber is to coordinate efforts to market and
deliver both companies' proprietary cyber security technologies and
products. This initiative is a key step in the product roadmap to
achieve a Zero-Trust (as defined by the National Institute of
Standards and Technology) network environment using quantum
authentication and Post Quantum Cryptography solutions. The
companies believe that these solutions will have a near immediate
global impact on the state-of-play in cyber security.
The companies believe that the novel and innovative technologies
they each offer are complementary and provide opportunities to
deliver cutting-edge solutions in a growth area, ahead of the
curve. To launch the relationship, the companies have initially
identified 13 sales opportunities with large, well-known
international organizations within the healthcare, education,
government, and banking sectors, and have advanced cross-sector
discussions with several longstanding relationships. The terms of
the teaming agreement require that the party initiating a client
engagement receives 10% of the gross revenue generated on the
engagement, over the term of the teaming agreement, with the
remaining revenue to be divided up based on the tasks and
technology solutions implemented. The length of the agreement is
for one year with automatic renewable terms of one-year
periods.
Recyber, based in London and
Geneva, is a privately held
cybersecurity company that combines automation, artificial
intelligence, and advanced technology to reduce a business'
cybersecurity risk by analyzing and modifying organizational and
human behavior patterns and processes. Its endpoint, agent-based
software platform accurately monitors, evaluates, detects, and
mitigates cyber risk, resulting in a scalable and easy-to-use
solution.
The Recyber proprietary offerings include a snapshot of an
organization's cyber vulnerabilities through a taxonomic software,
called Republic, that assesses employee cyber behaviors and
enhances employee cybersecurity knowledge. The software platform
also includes a monitoring service called Review that
provides a continuous cyber risk scoring and diagnostic monitoring
service and measures organizational security culture. Together,
these services combine automated scanning with human-led
penetration testing to prioritize the most critical vulnerabilities
and offer immediate remediation guidance. Established in
2018, Recyber has successfully protected over 100 companies
and has estimated preventing damages exceeding $100 million. Recyber, through its partnership
with QCi, will become one of the first companies in Europe to offer quantum authentication and
encryption solutions as part of its portfolio of cybersecurity
technology offerings.
QCi's patented core technology is based on non-linear quantum
optics and nanophotonic technologies used to condition, manipulate
and measure single photons in the optical region to leverage the
inherent stochastic behavior of quantum systems in cyber security
applications. The technology is designed to work directly with
existing telecom lasers and fiber-based communication systems to
minimize the redesign of existing network architectures. The
underlying methodology utilizes high efficiency photon entanglement
sources and strict quantum mechanical measurement protocols in a
layered architecture to create both secure transport layers
(quantum networks) and endpoints (quantum authentication)
which QCi believes will contribute greatly to holistic
cybersecurity protection, beyond encryption.
Traditional security models typically operate under the
assumption that anything inside the network is trustworthy and, as
a result, strict authentication is often overlooked. QCi has
developed and created a unique "Zero-Knowledge
Proof Quantum Communication Protocol" that addresses this
authentication vulnerability security gap. When coupled with an
additional quantum encryption layer, the network can operate in a
"zero trust" environment that assumes no inherent trust in any
user, device, or system, regardless of whether they are inside or
outside of the organization's network perimeter. This allows
verification of transactions/communications without disclosing
sensitive information, providing privacy and security in
interactions, and enabling trustless decentralized
systems, essentially creating a "zero trust" environment.
Commenting on the strategic sales and teaming agreement,
Robert Liscouski, QCi's CEO stated,
"The business community is recognizing that the cybersecurity
threat is increasingly complex and building rapidly. The time to
prepare and defend against these threats is now. QCi's technology
and product offerings in this area make a strong case for
partnership with leading cyber security companies to bring their
clients the best cyber protection possible." Liscouski added, "We
have known the founders of Recyber for many years and have watched
their company grow into one of the most highly regarded and
innovative experts in cybersecurity in Europe. The Recyber team's knowledge of the
market and high-level relationships with some of the world's
largest audit and compliance firms, makes Recyber an ideal partner
for QCi. Recyber and QCi are jointly implementing business
development plans and identifying opportunities that will showcase
our technology solutions and introduce the benefits of quantum
authentication and encryption to key companies outside the U.S.
that have a sense of urgency to address cyber vulnerabilities."
Mitch Scherr, CEO and co-founder
of Recyber, stated, "Recyber's proprietary cyber security platform
coupled with QCi's quantum technology will deliver a powerful
combination to bring significant benefit and value to our
customers. Recyber has always been regarded as a leading-edge
provider of cybersecurity capabilities providing customers with a
high level of protection and confidence. Our platform is proven to
be highly effective in uncovering cyber vulnerabilities, in both
technical and human dimensions and QCI's products will greatly
enhance that capability. When we identify security issues, our
customers want an immediate and effective remedy, and we believe
that QCi's innovative hardware will provide the best available
quantum cyber security solutions."
In addition to the current partnership focusing on growth
initiatives in the cybersecurity market, Recyber and QCi will
explore sales and global expansion into the markets for QCi's other
quantum intelligence, sensing, imaging, and computing technology
platform products. As such, Recyber would support these sales
as a value-added reseller (VAR) of QCi technologies in those
regions.
For additional information on QCi's suite of solutions, please
visit our website or contact our team directly.
About Quantum Computing Inc. (QCi)
Quantum
Computing Inc. (QCi) (Nasdaq: QUBT)is an innovative, quantum
optics and nanophotonics technology 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 provides accessible and affordable solutions with
real-world industrial applications, using
nanophotonic-based quantum entropy that can be used
anywhere and with little to no training, operates at normal room
temperatures, low power and is not burdened with unique
environmental requirements. QCi is competitively advantaged
delivering its quantum solutions at greater speed, accuracy, and
security at less cost. QCi's core nanophotonic-based technology is
applicable to both quantum computing as well as quantum
intelligence, cybersecurity, sensing and imaging solutions,
providing QCi with a unique position in the marketplace. QCi's core
entropy computing capability, the Dirac series, delivers solutions
for both binary and integer-based optimization problems using over
11,000 qubits for binary problems and over 1000 (n=64) qubits for
integer-based problems, each of which are the highest number of
variables and problem size available in quantum computing
today. Using the Company's core quantum methodologies, QCi has
developed specific quantum applications for AI, cybersecurity and
remote sensing, including its Reservoir Photonic Computer series
(intelligence), reprogrammable and non-repeatable Quantum Random
Number Generator (cybersecurity) and LiDAR and Vibrometer (sensing)
products. For more information about QCi,
visit www.quantumcomputinginc.com.
About Assured Cyber Protection Ltd. (Recyber)
Recyber,
a UK and Swiss based cybersecurity company, is dedicated to
fostering a cyber-civilized world, starting with the workplace.
With a human-centric approach, Recyber strives to democratize
cybersecurity technologies, making them accessible to businesses of
all sizes. By focusing on user-friendly products and solutions,
Recyber ensures that organizations can implement effective
cybersecurity measures. Simplifying complex concepts and
emphasizing the significance of secure cyber behaviours, Recyber
empowers decision-makers, including SME owners, finance
professionals, HR managers, and IT experts, to navigate the cyber
landscape confidently. For more information about Recyber,
visit https://recyber.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 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, and that actual results may
differ materially from those contemplated by such forward-looking
statements.
QCi 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. 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 QCi's Annual Report
on Form 10-K and other factors as may periodically be described in
QCi's filings with the U.S. Securities and Exchange Commission.
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SOURCE Quantum Computing, Inc