Quantum Computing, Inc. Secures Fifth Purchase Order for TFLN Foundry and Previews PDK on a Commercial Platform

Rhea-AI Summary

Quantum Computing Inc. (QUBT) has secured its fifth purchase order for thin film lithium niobate (TFLN) photonic chip foundry services from a Canadian research group focused on quantum photonics. The order includes custom test structures for advanced designs like periodically poled lithium niobate components, with priority access and preferred rates for future multi-project wafer runs.

The company also announced the launch of its PIC Process Design Kit (PDK) on GDSFactory's open-source platform, enabling users to design and simulate circuits before manufacturing. QCi plans to expand PDK availability through additional service providers over the next two years and will showcase it at SPIE Photonics West 2025.

QCi's new U.S.-based chip foundry in Tempe, Arizona, focusing on TFLN-based PICs and nanophotonic devices, is expected to begin operations later this quarter. The company has already secured multiple pre-orders through its Pilot Launch Program, including collaborations with a European technical university and a Canadian PIC design house.

Positive

• Secured fifth purchase order for TFLN foundry services
• New chip foundry in Tempe, Arizona starting operations this quarter
• Multiple pre-orders secured through Pilot Launch Program
• Launch of PIC Process Design Kit on commercial platform

Negative

• None.

Insights

Technology and Manufacturing Analyst

The fifth purchase order for QCi's TFLN foundry services marks a significant milestone in the company's commercialization strategy. The focus on periodically poled lithium niobate (PPLN) components is particularly noteworthy, as these are important elements in quantum photonics applications, specifically for generating entangled photons and optical frequency conversion. This positions QCi at the intersection of two rapidly growing markets: quantum computing and photonic integrated circuits.

The launch of the Process Design Kit (PDK) on GDSFactory's platform represents a strategic masterstroke. By leveraging an established open-source platform with widespread adoption in commercial and research sectors, QCi is reducing barriers to entry for potential customers while simultaneously building a sustainable revenue pipeline through their multi-project wafer (MPW) runs. This approach mirrors the successful business model of electronic semiconductor foundries, potentially enabling QCi to capture a significant share of the specialized photonics fabrication market.

The company's expansion through their new Tempe facility demonstrates strong execution of their vertical integration strategy. By maintaining control over manufacturing, QCi can ensure quality while optimizing margins. The multiple pre-orders through the Pilot Launch Program, including collaborations with European technical universities and Canadian design houses, validate the market demand for their TFLN technology.

The comprehensive ecosystem approach - combining foundry services, design tools and manufacturing capabilities - positions QCi favorably against competitors. The PDK's planned expansion to additional service providers over the next two years suggests a platform strategy that could establish QCi as a standard-setter in the TFLN photonics space, potentially creating significant barriers to entry for competitors.

HOBOKEN, N.J., Jan. 28, 2025 /PRNewswire/ -- Quantum Computing Inc. ("QCi" or the "Company") (Nasdaq: QUBT), an innovative, integrated photonics and quantum optics technology company, today announced it has received a fifth purchase order for its thin film lithium niobate (TFLN) photonic chip foundry. The latest order comes from a research group based in Canada to support its research efforts on quantum photonics.

As part of the order, QCi will provide the research group with custom test structures based on its TFLN photonic integrated circuit (PIC) chip technology. These test structures will serve as a baseline for advanced designs, such as periodically poled lithium niobate (PPLN) components, which are essential for generating entangled photons and optical frequency conversion. Under this order agreement, the research group will also receive priority access and preferred rates for future multi-project wafer (MPW) runs offered by QCi.

"Through this collaboration, we are excited to advance this research team's pioneering work by providing the use of QCi's TFLN foundry services," stated Dr. William McGann, Chief Executive Officer (CEO) of QCi. "This partnership reinforces the increasing demand for TFLN's energy efficiency and scalability, demonstrating QCi's near-term opportunity to address real-world challenges and highlighting TFLN's transformative potential in the fields of next-generation photonics and quantum technologies."

In addition, the new order aligns with QCi's recent launch of its PIC Process Design Kit (PDK), utilizing GDSFactory's open-source platform. The platform – a powerful Python-based tool widely adopted across commercial and research sectors – allows users to design a variety of complex systems, including photonic circuits. Through this partnership, QCi's PDK will be hosted on GDSFactory, which will provide a unified interface through a cloud-based or local portal. Users who would like to use QCi's foundry services will receive the ability to design and simulate their intended circuits prior to submitting a final blueprint to QCi for manufacturing.

The availability of QCi's PDK will streamline the design and manufacturing process, particularly for its future MPW runs. Over the next two years, QCi plans to make its PDK available through additional service providers, further enhancing accessibility for customers in the photonics market. This week, QCi also plans to introduce its PDK at SPIE Photonics West 2025, the world's largest photonics technologies event, taking place from January 28-30, 2025, in San Francisco, California.

To date, QCi has secured multiple pre-orders through its Pilot Launch Program, most recently announcing collaborations with a leading European technical university and a Canadian PIC design house. In addition, the Company's new U.S.-based chip foundry in Tempe, Arizona will focus on manufacturing TFLN-based PICs and nanophotonic devices. The facility, expected to begin operations later this quarter, will expand QCi's capabilities and strengthen its position as a leader in the rapidly growing 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. (Nasdaq: QUBT) is an innovative, integrated photonics and quantum optics technology company that provides accessible and affordable quantum machines to the world today. QCi's products are designed to operate at room temperature and low power at an affordable cost. The Company's portfolio of core technologies and products offer unique capabilities in the areas of high-performance computing, artificial intelligence, and cybersecurity, as well as remote sensing applications.

For investor relations inquiries, contact John Nesbett at qci@imsinvestorrelations.com, and for public relations inquiries, contact Jessica Tocco at jessica.tocco@a10associates.com.

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. These forward-looking statements and forecasts, generally identified by terms such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," "aim to," or variations of these or similar words, involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the 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, including the demand for TFLN chips and the availability and capability of QCi's chip foundry, and that actual results may differ materially from those contemplated by such forward-looking statements. Except as required by federal securities law, QCi undertakes no obligation to update or revise forward-looking statements to reflect changed conditions.

View original content to download multimedia:https://www.prnewswire.com/news-releases/quantum-computing-inc-secures-fifth-purchase-order-for-tfln-foundry-and-previews-pdk-on-a-commercial-platform-302361757.html

SOURCE Quantum Computing Inc.

FAQ

What is the significance of QUBT's fifth TFLN foundry purchase order?

The fifth purchase order from a Canadian research group demonstrates growing market demand for QUBT's TFLN technology and foundry services, particularly in quantum photonics research applications.

When will QUBT's new Tempe, Arizona chip foundry begin operations?

QUBT's new chip foundry in Tempe, Arizona is expected to begin operations later in Q1 2025, focusing on manufacturing TFLN-based PICs and nanophotonic devices.

What is QUBT's new PIC Process Design Kit (PDK) and its benefits?

QUBT's PDK is a design tool on GDSFactory's platform that allows users to design and simulate circuits before manufacturing, streamlining the design process for future multi-project wafer runs.

Where will QUBT showcase its new PDK technology in January 2025?

QUBT will introduce its PDK at SPIE Photonics West 2025, taking place from January 28-30, 2025, in San Francisco, California.

What are QUBT's expansion plans for PDK availability?

QUBT plans to make its PDK available through additional service providers over the next two years to enhance accessibility for customers in the photonics market.