Quantum Computing, Inc. Announces Strategic Partnerships and Pre-Orders Ahead of 2025 Quantum Photonic Chip Foundry Opening

HOBOKEN, NJ - October 30, 2024 - Quantum Computing Inc. ("QCi" or the "Company") (Nasdaq: QUBT), an innovative, integrated photonics and quantum optics technology company, is pleased to announce significant progress as it approaches the final commissioning of its quantum photonic chip foundry, set to open in Q1 2025. In September, QCi launched a pilot program aimed at securing sales orders from early adopters for its thin film lithium niobate (TFLN) foundry services and establishing a unified ecosystem for producing high-performance and energy efficient photonic integrated circuits (PICs) and nanophotonic devices.

Led by Drs. Pouya Dianat and Milan Begliarbekov, QCi has made substantial strides in driving commercial activities for its products and PIC foundry services. These ongoing activities have led to the Company's engagement in contract and technical negotiations with several key partners and customers across North America, Europe, and Asia, with expectations to finalize multiple orders for QCi's TFLN electro-optical modulator chips by the end of the year.

In line with its long-term goals for strategic collaboration in PIC design, manufacturing, testing, and packaging, QCi has executed two memorandums of understanding (MOUs) with prominent partners. The first MOU has been established with Spark Photonics Design, Inc., a leading U.S.-based provider of PIC solutions. This partnership aims to enable the introduction of evaluation chip kits in 2025, providing potential customers with the opportunity to sample QCi Foundry chips for educational and testing purposes.

Additionally, QCi has established a second MOU with Alcyon Photonics, a European-based photonics design company. Together, these partnerships represent a significant advancement for QCi in facilitating the development of process design kits (PDKs) and design services, reinforcing the Company's commitment to achieve global reach with customers utilizing its TFLN fab line.

"The early engagement from strategic partners and customers, such as these, underscores our confidence in the strong growth potential for our photonic chips and highlights the global market interest in the TFLN capabilities of our foundry," stated Dr. William McGann, Chief Executive Officer (CEO) of QCi. "This positive response reflects the increasing market demand for TFLN technology, which promises substantial performance advantages and energy cost savings across applications in photonic-based quantum computing, defense, artificial intelligence (AI), and data center connectivity and optical interconnects."

This announcement follows the recent public unveiling of the QCi Foundry and its services during Dr. Dianat's presentation at the Optica Photonic-Enabled Cloud Computing (PECC) Industry Summit. The event showcased the promising future of TFLN technology, which has been recognized as a "hot topic" for 2025 by NVIDIA, further emphasizing its growth potential in the telecom and datacom landscape.

As QCi approaches the final phase of construction and capital equipment installation for its foundry, the Company continues to engage with various customers to build strategic partnerships and capture pre-orders. The QCi Foundry, which is anticipated to be fully operational in early 2025, will have both front end and packaging capabilities for a 150 mm wafer line, as well as the ability to design, simulate, and characterize optoelectronic devices.

For more information about QCi's Foundry or to discuss 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.