Quantum Computing, Inc. Announces Second Purchase Order for TFLN Photonic Chip Foundry from University of Texas at Austin

Rhea-AI Summary

Quantum Computing Inc. (QUBT) has received its second purchase order for its thin film lithium niobate (TFLN) photonic chip foundry from the University of Texas at Austin. The order will support the University's RF Acoustic Microsystem Group's research and is part of QCi Foundry's pilot launch program, with fulfillment expected in Q1 2025. QCi's Foundry in Tempe, Arizona, will process TFLN and other transition metal ferroelectrics, with production scheduled to begin in Q1 2025. This follows QCi's first order from a research institute in Asia, positioning the company in the high-performance, TFLN-based optical chip market.

Positive

• Secured second purchase order for TFLN photonic chip foundry
• Foundry facility on track to begin production in Q1 2025
• Expanding commercial viability with multiple customer orders

Negative

• None.

Insights

Tech Industry Analyst

The second purchase order for TFLN photonic chip foundry services represents incremental progress in QCi's commercialization strategy, though the financial impact appears The key strategic value lies in validating the market demand for their TFLN technology, particularly in academic research applications.

The planned Q1 2025 production timeline for the Tempe facility is crucial, as it will determine QCi's ability to capture market share in the growing photonics sector. With two early customers secured before production begins, there are positive indicators for initial facility utilization. However, investors should note that academic research orders typically have lower revenue potential compared to commercial contracts.

The expansion into micro electromechanical systems applications could open additional market opportunities beyond the core quantum computing focus, though meaningful revenue impact would likely be years away. The $251M market cap suggests investors are pricing in significant growth expectations that will require substantial commercial traction to justify.

HOBOKEN, N.J., Nov. 20, 2024 /PRNewswire/ -- Quantum Computing Inc. ("QCi" or the "Company") (Nasdaq: QUBT), an innovative, integrated photonics and quantum optics technology company, today announced the Company has received its second purchase order for its thin film lithium niobate (TFLN) photonic chip foundry from the University of Texas at Austin. The order will support the research efforts of the University's RF Acoustic Microsystem Group and is part of the QCi Foundry's pilot launch program, with fulfillment expected in Q1 2025.

The order will enable the University to advance chip-scale acoustic and cross-domain microsystems, utilizing the scalable industrial processes provided by the QCi Foundry. As part of this order, QCi will leverage its standard TFLN processing recipes to facilitate a custom fabrication run tailored to the needs of the University's research group. This collaboration lays the groundwork for further expanding the use of TFLN into applications that extend into micro electromechanical systems, further establishing TFLN's potential as a versatile material system and a key enabler for the next-generation photonics market and beyond.

"This strategic collaboration with the University of Texas at Austin underscores the expanding capabilities and commercial viability of the QCi Foundry, which has been designed to meet the increasing demand for signal processing, sensing, and computing applications as well as advanced acoustic systems for volume deployment," stated Dr. William McGann, Chief Executive Officer (CEO) at QCi. "We are excited to support the University's innovative research, and this collaboration further highlights the growing recognition of TFLN as a critical driver in the future of telecom, datacom, and quantum markets."

This announcement follows QCi's recent news of securing its first order for its TFLN photonic chip foundry from a prominent research and technology institute based in Asia. The QCi Foundry will be devoted to processing TFLN and other transition metal ferroelectrics in Tempe, Arizona. The facility remains on track to begin production in Q1 2025, positioning QCi as a leader in the high-performance, TFLN-based optical chip market.

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. ("QCi" or the "Company") (Nasdaq: QUBT) is an innovative, integrated photonics and quantum optics technology company that provides accessible and affordable quantum machines to the world today. QCi 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, cybersecurity, as well as remote sensing applications.

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SOURCE Quantum Computing Inc.

FAQ

When will QCi (QUBT) begin production at its TFLN foundry in Tempe, Arizona?

QCi's TFLN foundry in Tempe, Arizona is scheduled to begin production in Q1 2025.

What is the latest purchase order received by Quantum Computing Inc. (QUBT)?

Quantum Computing Inc. received a purchase order for its TFLN photonic chip foundry from the University of Texas at Austin, supporting their RF Acoustic Microsystem Group's research.

When will QUBT fulfill the University of Texas at Austin's order?

The order fulfillment is expected in Q1 2025 as part of QCi Foundry's pilot launch program.