D-Wave and QuantumBasel Extend Agreement to Accelerate Commercial Adoption and Production Use of Quantum Technology in Europe

Rhea-AI Summary

D-Wave Quantum Inc. is opening a European office on the QuantumBasel campus in Switzerland to further accelerate quantum and quantum-hybrid application development in Europe. This reflects growing regional customer interest in D-Wave's quantum computing solutions, including the Advantage system with 5,000+ qubits and 15-way connectivity. D-Wave's European customers include Koç Holding, Satispay, Poznan Superconducting and Network Center, Cineca, and other Forbes Global 2000 companies.

Positive

• D-Wave is expanding its presence in Europe with the opening of a European office on the QuantumBasel campus, indicating a commitment to the European market and potential for increased business opportunities. The growing regional customer interest in D-Wave's quantum computing solutions, including the Advantage system, suggests a positive outlook for the company's growth in Europe.

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• None.

D-Wave to open European office on uptownBasel campus, facilitating increased development of near-term quantum applications for businesses, governments, and researchers

PALO ALTO, Calif. & BURNABY, British Columbia & BASEL, Switzerland--(BUSINESS WIRE)-- D-Wave Quantum Inc. (NYSE: QBTS), a leader in quantum computing systems, software, and services and the world’s first commercial supplier of quantum computers, and QuantumBasel, Switzerland’s first quantum hub for commercial use embedded in the uptownBasel innovation campus, today announced a two-year extension to the companies’ strategic relationship to further accelerate quantum and quantum-hybrid application development in Europe. As part of the agreement, D-Wave will open a European office on the QuantumBasel campus, establishing an onsite presence in support of the companies’ joint efforts to fast-track the commercialization of quantum computing in the region.

The opening of D-Wave’s European office reflects growing regional customer interest in and usage of D-Wave’s annealing quantum computing solutions, which include the Advantage™ system, a fifth-generation annealing quantum system that features 5,000+ qubits and 15-way connectivity. In addition to QuantumBasel, D-Wave’s European customers include Koç Holding, Satispay, Poznan Superconducting and Network Center, Cineca, as well as several other Forbes Global 2000 companies.

D-Wave and QuantumBasel signed their initial strategic collaboration agreement in December 2022, in which D-Wave was named as a quantum technology provider for QuantumBasel, giving the center’s tenants and customers access to its Advantage annealing quantum computer via the Leap™ real-time quantum cloud service. Since the initial agreement, uptownBasel and D-Wave have successfully led a variety of joint go-to-market initiatives and worked on numerous customer engagements, including a pilot project with VINCI Energies in which quantum-hybrid applications targeted at industrial construction are being created.

"This extended partnership with D-Wave solidifies our shared dedication to quantum innovation in Switzerland and beyond. Our collaboration is a promise to drive quantum advancements and progress towards broader commercial adoption," said Damir Bogdan, CEO of QuantumBasel.

"D-Wave and QuantumBasel's strengthened alliance is a next step into the quantum era. As an investor, it's exhilarating to see this international commitment to Switzerland’s tech landscape,” said Dr. Thomas Staehelin, investor and president of the board of uptownBasel.

“QuantumBasel and D-Wave share a vision of solving the world’s most complex problems for the betterment of industry and society,” said Dr. Alan Baratz, CEO of D-Wave. “Today’s announcement reflects strong progress toward achieving that mission, as joint customers are quickly realizing the near-term advantage of D-Wave’s quantum technology. Through our collaboration and now our European office presence, we anticipate accelerated momentum for quantum and quantum-hybrid applications moving into production and fueling operations.”

About uptownBasel and uptownBasel Infinity (QuantumBasel)

uptownBasel serves as a global hub for Industry 4.0, seamlessly connected to the world while firmly rooted in Basel, Europe. Situated on the historic Schorenareal site in Arlesheim near Basel, an expansive research and production facility covering approximately 70,000 square meters is being constructed. With the opening of Building 1 and its use by the two European technology groups Bouygues and Vinci (Axians and Actemium), the campus has already created 400 new jobs since 2021. In total, the centre will house about 100 companies, generating up to 2500 jobs. The investment volume amounts to over 500 million Swiss francs. uptownBasel is made possible by the private ownership of the family Monique and Thomas Staehelin and is being developed by Fankhauser Arealentwicklungen.

uptownBasel Infinity, a wholly owned subsidiary of the uptownBasel Group, runs “QuantumBasel”, its center of competence for quantum and artificial intelligence and the first commercial quantum hub in Switzerland. Seamless access to quantum and high-performance computing is made available to tenants and the ecosystem of uptownBasel, including enterprises, research institutes, startups, and universities. Collaborating with esteemed technology partners like IBM, D-Wave, IonQ, and NVIDIA, uptownBasel Infinity is also expanding its global network to encompass research institutes and universities. www.quantumbasel.com

About D-Wave Quantum Inc.

D-Wave is a leader in the development and delivery of quantum computing systems, software, and services, and is the world’s first commercial supplier of quantum computers—and the only company building both annealing quantum computers and gate-model quantum computers. Our mission is to unlock the power of quantum computing today to benefit business and society. We do this by delivering customer value with practical quantum applications for problems as diverse as logistics, artificial intelligence, materials sciences, drug discovery, scheduling, cybersecurity, fault detection, and financial modeling. D-Wave’s customers include Volkswagen, Mastercard, Deloitte, Davidson Technologies, ArcelorMittal, Siemens Healthineers, Unisys, NEC Corporation, Pattison Food Group Ltd., DENSO, Lockheed Martin, Forschungszentrum Jülich, University of Southern California, and Los Alamos National Laboratory.

Forward-Looking Statements

Certain statements in this press release are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially from the information expressed or implied by these forward-looking statements and may not be indicative of future results. Forward-looking statements in this press release include, but are not limited to, statements regarding D-Wave’s plans to open a European office on the QuantumBasel campus and the potential results of the collaboration between D-Wave and uptownBasel. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management’s control, including general economic conditions and other risks; our ability to expand our customer base and the customer adoption of our solutions; risks within D-Wave’s industry, including anticipated trends, growth rates, and challenges for companies engaged in the business of quantum computing and the markets in which they operate; the outcome of any legal proceedings that may be instituted against us; risks related to the performance of our business and the timing of expected business or financial milestones; unanticipated technological or project development challenges, including with respect to the cost and/or timing thereof; the performance of our products; the effects of competition on our business; the risk that we will need to raise additional capital to execute our business plan, which may not be available on acceptable terms or at all; the risk that we may never achieve or sustain profitability; the risk that we are unable to secure or protect our intellectual property; volatility in the price of our securities; the risk that our securities will not maintain the listing on the NYSE; and the numerous other factors set forth in D-Wave’s Annual Report on Form 10-K for its fiscal year ended December 31, 2022 and other filings with the Securities and Exchange Commission. Undue reliance should not be placed on the forward-looking statements in this press release in making an investment decision, which are based on information available to us on the date hereof. We undertake no duty to update this information unless required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231026790206/en/

Media Contacts:

QuantumBasel

Camila Galvez

camila.galvez@uptownbasel.ch

D-Wave

Alex Daigle

media@dwavesys.com

Source: D-Wave Quantum Inc.

FAQ

What is D-Wave Quantum Inc. announcing?

D-Wave Quantum Inc. is opening a European office on the QuantumBasel campus in Switzerland to accelerate quantum and quantum-hybrid application development in Europe.

What are D-Wave's quantum computing solutions?

D-Wave offers quantum computing solutions, including the Advantage system with 5,000+ qubits and 15-way connectivity.

Who are D-Wave's European customers?

D-Wave's European customers include Koç Holding, Satispay, Poznan Superconducting and Network Center, Cineca, and other Forbes Global 2000 companies.

What does the opening of a European office signify for D-Wave?

The opening of a European office indicates D-Wave's commitment to the European market and potential for increased business opportunities.