SEALSQ to Launch Two New Quantum Resistant Chips
SEALSQ (NASDAQ: LAES) has announced the planned launch of its Quantum Resistant Chips, QS7001 and QVault TPM, by Q4 2024. Focused on semiconductor and post-quantum technologies, SEALSQ has made rapid progress on its QUASARs project, moving from design to engineering samples ready by the end of 2024. The QS7001 will allow customers to develop their own firmware while QVault TPM will feature pre-provisioned FIPS 140-3 and TCG certified modules. SEALSQ is leveraging this technology to collaborate with large electronics manufacturers, aiming to develop custom quantum resistant chips and expand its business opportunities. This initiative aligns with SEALSQ’s plan to establish a Semiconductor Design and Personalization center.
- Launch of Quantum Resistant Chips QS7001 and QVault TPM set for Q4 2024.
- Rapid development progress on QUASARs post-quantum project.
- QS7001 allows for customer firmware development.
- QVault TPM features pre-provisioned FIPS 140-3 and TCG certified modules.
- Strategic collaboration with large electronics manufacturers.
- Potential for new business opportunities and revenue streams.
- Aligned with the establishment of a Semiconductor Design and Personalization center.
- Potential delays in development could impact launch timelines.
- Market competition in quantum resistant chip technology.
- High dependency on successful partnerships with electronics manufacturers.
- Uncertainty in customer adoption rates for new technology.
Insights
SEALSQ's announcement introduces significant developments in the field of Post Quantum technology, specifically focusing on the QS7001 and QVault TPM chips, expected to launch by Q4 2024. For investors, this signals a proactive approach to innovation in a rapidly evolving technology landscape. The introduction of quantum resistant chips positions SEALSQ as a forward-thinking company adapting to future cybersecurity needs, potentially offering a
From a financial perspective, the development contracts for ASICs could be particularly beneficial. These contracts typically include coverage of Non-Recurring Expenses (NRE), offering a predictable revenue stream and potentially reducing financial risk associated with R&D investments. Furthermore, this initiative aligns with SEALSQ's strategy to construct a Semiconductor Design and Personalization center, suggesting a well-rounded plan to support and expand their ASICs activity. However, investors should be cautious about the execution risk associated with these ambitious projects and the timeline for actual revenue realization.
SEALSQ's move into custom quantum resistant chips also opens new business opportunities, which could significantly enhance
Overall, the launch of these chips is a promising step, though the financial impact will depend on successful execution and market adoption.
The launch of the QS7001 and QVault TPM chips marks a pivotal moment for SEALSQ, setting a new standard in quantum-resistant security. These chips are engineered on a RISC-V Quantum Resistant platform with CC EAL 5+ certification, optimized for Kyber and Dilithium algorithms, which are designed to counteract potential quantum computing threats. This shows SEALSQ’s commitment to staying ahead in the cybersecurity domain.
Quantum-resistant algorithms like Kyber and Dilithium are important as they prepare for a future where quantum computers could potentially break traditional cryptographic algorithms. The QS7001’s flexibility for customers to develop and load their own firmware adds significant value, catering to a broad spectrum of applications and enhancing its appeal among developers and integrators. Additionally, the QVault TPM’s pre-provisioned, certified stack offers out-of-the-box security, which could be a selling point for clients needing ready-to-deploy solutions.
The strategic move to offer custom quantum-resistant chips derived from the QS7001 indicates an astute understanding of market requirements and demonstrates adaptability. However, the challenge will be in effectively translating these advanced technical features into marketable products that meet customer needs and regulatory standards. Investors should watch for further technical validations and market feedback on these chips’ performance to gauge their long-term potential.
SEALSQ’s entry into the quantum-resistant chip market comes at a time of growing concern over quantum computing threats to existing cryptographic systems. This proactive step positions the company to capitalize on a niche segment that is expected to gain significance as quantum computing technologies advance. The QS7001 and QVault TPM chips are well-timed, aligning with increasing demand for secure hardware solutions in various industries, including finance, defense and IoT.
By engaging with large electronic manufacturers early, SEALSQ is not only seeking to secure immediate business but also to build long-term partnerships that could facilitate sustained revenue growth. This approach could help SEALSQ establish itself as a key player in the emerging post-quantum cryptography market. Additionally, the strategic focus on custom ASICs tailored to specific customer needs could differentiate SEALSQ from its competitors, offering unique value propositions.
However, the success of this strategy will depend on how effectively SEALSQ can convert technical advancements into commercially viable products that meet market demands. The potential for a significant new pipeline of business opportunities is promising, but execution risk remains. Investors should monitor market reception and uptake of these new chips, as well as the company's ability to manage development and production timelines efficiently.
The QS7001 and QVault TPM are expected to launch as early as Q4 2024
Geneva, Switzerland, June 11, 2024 (GLOBE NEWSWIRE) --
SEALSQ Corp (NASDAQ: LAES) ("SEALSQ" or "Company"), a company that focuses on developing and selling Semiconductors, PKI and Post-Quantum technology hardware and software products, today announced that the launch of its new range of Quantum Resistant, or Post Quantum Secure Chips, the QS7001 and QVault TPM, is planned for as early as Q4 2024.
The Company’s investments and focus on the QUASARs post-quantum project have enabled the engineering team to progress rapidly on the development roadmap. Following the design phase and production and test of the first proof-of-concept, the QS7001 engineering samples are being produced and expected to be ready to order as soon as the fourth quarter of this year, while the TPM version should be ready by end of year.
The upcoming secure chips family is based on a RISC-V Quantum Resistant and CCEAL5+ hardware platform offering CC EAL 5+ certified security and optimized for Kyber and Dilithium quantum resistant algorithms to face the latest quantum attack scenarios. The QS7001 is delivered open for the customer to develop and load their own firmware, while the “QVault TPM” features a pre-provisioned FIPS 140-3 and TCG certified Trusted Platform Module stack.
More detailed technical features on the products and summary data sheet are already available on SEALSQ’s website: https://www.sealsq.com/semiconductors/post-quantum-risc-v-chips and on YouTube: https://www.youtube.com/watch?v=J4SsXEAGvyo.
SEALSQ has also initiated a strategic move to leverage on the new chip’s powerful hardware architecture capabilities by approaching several large electronic manufacturers to discuss the development of custom quantum resistant chips derived from the QS7001 and integrating application specific customer requirements. By entering the segment of post-quantum ASICs, the company is taking a strategic step in its commercial and industrial strategy, paving the way for a significant new pipeline of business opportunities and revenues.
From a financial point of view, ASICs development contracts typically feature customer coverage of Non-Recurring Expenses corresponding to engineering development fees. From an industrial perspective, this initiative is particularly aligned with SEALSQ’s current project to build a Semiconductor Design and Personalization center, from which engineering resources will fuel the company’s upcoming ASICs activity.
About Post-Quantum microcontrollers
Post-quantum microcontrollers are being developed to integrate post-quantum cryptographic algorithms and security features. Key activities include research, integration of algorithms, adding hardware-based security features, standardization, deployment in various applications, and raising awareness about their importance. These microcontrollers aim to secure digital systems against potential threats posed by quantum computing technology.
About ASICs
ASICs are specialized integrated circuits designed to perform specific functions or tasks within a particular application domain. They offer advantages such as higher performance, lower power consumption, and reduced size and cost compared to alternative solutions like field-programmable gate arrays (FPGAs) or general-purpose microcontrollers.
Overall, the ASIC market is characterized by steady growth, driven by technological advancements and increasing demand for customized solutions across various industries.
- Market Size: The global application specific integrated circuit market size accounted for USD 17.99 billion in 2022 and is expected to hit around USD 35.89 billion by 2032, with a registered CAGR of
7.20% from 2023 to 2032. - Application Areas: ASICs find applications in telecommunications, automotive, consumer electronics, industrial automation, and healthcare.
- Technology Trends: Advancements in process nodes and packaging technologies enable higher integration, improved performance, and lower power consumption, particularly for AI, IoT, and 5G applications.
- Emerging Markets: Demand is rising for low-power ASICs in IoT and sensor applications, as well as for ASICs used in ADAS, autonomous vehicles, and EVs in the automotive sector.
- Security Concerns: ASIC vendors are integrating hardware-based security features such as encryption and authentication to address cybersecurity threats, especially in IoT and cloud computing.
About SEALSQ:
SEALSQ focuses on selling integrated solutions based on Semiconductors, PKI and Provisioning services, while developing Post-Quantum technology hardware and software products. Our solutions can be used in a variety of applications, from Multi-Factor Authentication tokens, Smart Energy, Smart Home Appliances, Medical and Healthcare and IT Network Infrastructure, to Automotive, Industrial Automation and Control Systems.
Post-Quantum Cryptography (PQC) refers to cryptographic methods that are secure against an attack by a quantum computer. As quantum computers become more powerful, they may be able to break many of the cryptographic methods that are currently used to protect sensitive information, such as RSA and Elliptic Curve Cryptography (ECC). PQC aims to develop new cryptographic methods that are secure against quantum attacks. For more information, please visit www.sealsq.com.
Forward-Looking Statements
This communication expressly or implicitly contains certain forward-looking statements concerning SEALSQ Corp and its businesses. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, events or developments that we expect or anticipates will occur in the future, as well as any other statements which are not historical facts. Although we believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the expected success of our technology strategy and solutions for IoMT Security for Medical and Healthcare sectors, SEALSQ's ability to implement its growth strategies, SEALSQ's ability to continue beneficial transactions with material parties, including a limited number of significant customers; market demand and semiconductor industry conditions; and the risks discussed in SEALSQ's filings with the SEC. Risks and uncertainties are further described in reports filed by SEALSQ with the SEC.
SEALSQ Corp is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
| SEALSQ Corp. Carlos Moreira Chairman & CEO Tel: +41 22 594 3000 info@sealsq.com | SEALSQ Investor Relations (US) The Equity Group Inc. Lena Cati Tel: +1 212 836-9611 / lcati@equityny.com Katie Murphy Tel: +212 836-9612 / kmurphy@equityny.com |
FAQ
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