D-Wave Supports New Congressional Legislation Designed to Expand U.S. Quantum Program
06 November 2023 - 1:00PM
Business Wire
Company applauds National Quantum Initiative
legislation that includes all quantum computing systems and focuses
on near-term application development
D-Wave Quantum Inc. (NYSE: QBTS), a leader in quantum computing
systems, software, and services and the world’s first commercial
supplier of quantum computers, today announced its support for
legislation intended to expand the National Quantum Initiative
(NQI). The newly introduced language pushes for additional
commercialization efforts, support for industry engagement within
U.S. quantum programs, a dedicated near-term quantum application
development program, and an overarching inclusion of all quantum
computing systems and quantum-hybrid technologies.
D-Wave CEO Dr. Alan Baratz met with Members of Congress in
September to urge them to support reauthorization of the National
Quantum Initiative and ensure that it was expanded to encompass all
quantum computing technologies (annealing, gate model, and
quantum-hybrid). With the passage of this legislation, the U.S.
government could accelerate development of near-term quantum
applications that provide solutions to complex public-sector
problems, including optimizing global supply chains, electrical
grid resilience, drug discovery, infrastructure, and
sustainability.
Near-term quantum has been used by SavantX at the Port of Los
Angeles to optimize the operations of a cargo pier to address
global supply strains facing our nation, while in Japan
applications have been built to address carbon emission reduction
and optimization of emergency response. This legislation will
rebalance the U.S. quantum programs to include important
application development that is occurring daily via annealing
quantum computing systems and quantum-hybrid technologies.
“We commend the House Science Committee for introducing NQI
legislation that is inclusive of all quantum technologies,
including quantum annealing and quantum-hybrid technologies,” said
D-Wave CEO Dr. Alan Baratz. “Reauthorizing and expanding the NQI
will strengthen U.S. quantum programs and move the U.S. closer to
global leaders like Japan, the U.K., Australia, and Germany, which
are already heavily investing in near and long-term quantum
technology and supporting commercialization efforts. Congress must
act quickly to ensure that U.S. programs remain competitive to
global counterparts.”
"As pioneers in this emerging market, we are proud to be at the
forefront of quantum computing technology, driving innovation and
pushing the boundaries of what is possible,” said Ed Heinbockel,
president and CEO SavantX. “Our work on application development to
solve real-world problems is a testament to the power of this
technology and is better than what classical computers can do
alone. This legislation’s focus on near-term applications and
commercialization will be important to push the use of the
technology to solve critical public sector problems.”
Enacted in 2018, the NQI is watershed legislation that serves as
the public sector roadmap for establishing the path forward for the
U.S. quantum industry and helps determine how the federal
government can use quantum technology to provide solutions to
societal challenges impacting individuals, communities, and the
economy. The Act expired on September 30, 2023.
About D-Wave Quantum Inc.
D-Wave is a leader in the development and delivery of quantum
computing systems, software, and services, and is the world’s first
commercial supplier of quantum computers—and the only company
building both annealing quantum computers and gate-model quantum
computers. Our mission is to unlock the power of quantum computing
today to benefit business and society. We do this by delivering
customer value with practical quantum applications for problems as
diverse as logistics, artificial intelligence, materials sciences,
drug discovery, scheduling, cybersecurity, fault detection, and
financial modeling. D-Wave’s technology has been used by some of
the world’s most advanced organizations, including Volkswagen,
Mastercard, Deloitte, Davidson Technologies, ArcelorMittal, Siemens
Healthineers, Unisys, NEC Corporation, Pattison Food Group Ltd.,
DENSO, Lockheed Martin, Forschungszentrum Jülich, University of
Southern California, and Los Alamos National Laboratory.
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 results of
passing the NQI. 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; our ability to expand our customer base
and the customer adoption of our 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 our 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 our products; the effects
of competition on our business; the risk that we will need to raise
additional capital to execute our business plan, which may not be
available on acceptable terms or at all; the risk that we may never
achieve or sustain profitability; the risk that we are unable to
secure or protect our intellectual property; volatility in the
price of our securities; the risk that our 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. We undertake no duty to update this information
unless required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20231106019317/en/
Alex Daigle media@dwavesys.com
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