Quantum Computing Inc. Achieves Milestone with First Sale of Reservoir Computer and Quantum Random Number Generator

Quantum Computing Inc.’s partners Assured Cyber Protection Ltd and millionways order Reservoir Computers and Quantum Random Number Generator to enhance their AI capabilities.

LEESBURG, Virginia – October 31, 2023 – Quantum Computing Inc. (“QCi” or the “Company”) (Nasdaq: QUBT), an innovative, quantum optics and nanophotonic technology company announced a milestone in its quest to bring cutting-edge quantum solutions to the market.  The Company has secured multiple hardware sales of its state-of-the-art Reservoir Computer and Quantum Random Number Generator to Assured Cyber Protection Ltd and AI firm millionways, kicking off the commercial delivery of its computing technologies.

The QCi Reservoir Computer, a first-to-market portable reservoir computing device with technology inspired by the power of quantum mechanics, can perform complex computational tasks with unprecedented speed and efficiency to facilitate data analysis, machine learning and artificial intelligence.  Its minimal size, weight, power, and cost factors make it particularly suitable for use as an edge computing tool.  QCi’s Reservoir Computer uses the Company’s proprietary capabilities to create a small footprint hardware device that requires 80% to 95% less power consumption than traditional computers.  The QCi Reservoir Computer series leverages the Company’s unique competencies and expertise in both analog and digital design, resulting in an innovative piece of technology that interfaces seamlessly with a host machine through an Ethernet connection, enabling smooth communications and problem-free submission.  The Reservoir Computer, available now, is QCi’s first major step on its path to building a hardware-based, Quantum Reservoir Computer to be released in 2024.

Additionally, the Quantum Random Number Generator (QRNG) developed by QCi has garnered interest from organizations that require true randomness for applications in cryptography, secure communications, and data encryption.  With quantum-level entropy, QCi’s solution ensures the highest level of security for digital communications and data protection.  QCi’s QRNG offers a unique feature that can provide random number sequences and obey arbitrary statistic properties as customized by end users.  This new feature not only enhances various AI applications and security protocols but also supports financial modeling applications such as Monte Carlo simulations.

European-based Assured Cyber Protection Ltd (“Recyber”), a cybersecurity company that combines automation, artificial intelligence and advanced technology to reduce a business’ cybersecurity risk, has been on the forefront of defending digital assets against ever-evolving threats.  By integrating QCi’s Reservoir Computer and QRNG into their security algorithms, Recyber aims to enhance its ability to detect and respond to cyberattacks in real-time, staying ahead of cybercriminals in this ever-shifting landscape.

millionways, a New York City based technology firm, is a leader in the development of AI algorithms used to effectively provide quick turnaround analysis and next-gen feedback to users on their emotional IQ and personality insights based upon various forms of user-generated text or audio-to-text data.  Unlike other machine learning platforms such as ChatGPT, Alexa or Siri, millionways’ proprietary methodology makes behavorial predictions that have clear applications in generating the most informed decision in which social interactions drive behavorial outcomes.  The addition of QCi’s Reservoir Computer to millionways’ assessment process is expected to significantly boost machine learning efficiency, particularly in assessing audio files, dramatically reduce the power consumption and materially speed up the training.  Ultimately, quantum-enhanced AI technologies will enable millionways to provide even more accurate, personalized recommendations to its users, thus improving the overall user experience and increasing customer satisfaction.

Robert Liscouski, CEO and co-founder of Quantum Computing Inc. stated, “Recyber, a leading cybersecurity firm, and millionways, a pioneer in AI-driven decision-making platforms, are well positioned to benefit meaningfully from QCi technologies.  These innovative tools will enable them to efficiently address complex problems and challenges in their respective industries, pushing the boundaries of AI and cybersecurity capabilities.  The diverse application of our Reservoir Computer to the cybersecurity and human behavioral AI domains is exactly where we believe there will be a great opportunity for these types of technologies.  Similarly, our QRNG device, a truly unique random number generating device in the market, will address immediate security requirements for key distribution.”  Liscouski added, “We believe that quantum computing will drive the next era of technological advancement, particularly in the cybersecurity world, and we are excited to be at the forefront of this revolution.  Though QCi is small, as of now, we pack a big punch.  We are working hard to become the leader in quantum innovation and quantum solutions that provide real value to the business and government markets today.”

Mitch Scherr, CEO and co-founder of Recyber, commented on his purchase of four QCi Reservoir Computers and a QRNG, “Cybersecurity requires constant innovation.  QCi’s quantum-enhanced technologies will strengthen our efforts to safeguard sensitive data and protect our company and its clients from evolving threats.  Recyber and QCi offer game-changing cybersecurity assessment, remediation and unparalleled protection.  QCi’s Reservoir Computer combined with Recyber’s AI technologies will enable Recyber to provide solutions that will protect clients and their Boards from the growing cyber threat in the marketplace today.  Our unique cyber behavioral analysis will be able to scale to small and large enterprises to better protect businesses from exploitation due to poor cyber hygiene and insider threats.  We entered our teaming relationship with QCi just over a month ago and, based on early customer feedback, we anticipate a highly productive future together.”

QCi’s efforts to build quantum reservoir computers is expected to bring quantum capabilities to artificial intelligence and significantly increase the speed and efficiency of AI while significantly lowering power consumption compared to power-hungry classical computers.  QCi is committed to ongoing research and development to further enhance its quantum solutions and expand its product offerings.  The Company’s long-term vision is to democratize quantum information and sensing technologies, making them accessible and practical for businesses and researchers around the world.

For additional information on the Company’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 Qi Solutions (QIS)

Qi Solutions, a wholly owned subsidiary of Quantum Computing Inc., is a 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.

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.