CORRECTING and REPLACING IonQ Awarded Ground-breaking Quantum Computing Contract With Applied Research Laboratory for Intelligence and Security (ARLIS)

IonQ will design a first-of-its-kind, multi-node, blind quantum computing system for ARLIS

The contract extends IonQ’s work with the Federal Government on quantum initiatives and technological advancements

Please replace the release with the following corrected version due to multiple revisions.

The updated release reads:

IONQ AWARDED GROUND-BREAKING QUANTUM COMPUTING CONTRACT WITH APPLIED RESEARCH LABORATORY FOR INTELLIGENCE AND SECURITY (ARLIS)

IonQ will design a first-of-its-kind, multi-node, blind quantum computing system for ARLIS

The contract extends IonQ’s work with the Federal Government on quantum initiatives and technological advancements

IonQ (NYSE: IONQ), a leader in the quantum computing industry, announced today that it has won a contract through a competitive solicitation with the Applied Research Laboratory for Intelligence and Security (ARLIS) to design a first-of-its-kind, networked quantum computing system for the Department of Defense (DOD). Future phases of the project, which have yet to be awarded, include the construction, delivery, and maintenance of these systems. Through this project, ARLIS will conduct hands-on research into the cybersecurity of multi-party quantum computation, including blind quantum computing protocols – a process where quantum computers remain ‘blind’ to what information is being processed through them. This effort is funded by an award from the Secretary of the Air Force Concepts, Development, and Management Office.

ARLIS is the Department of Defense’s principal university-affiliated research center (UARC) for intelligence and security, and this contract extends the reach of IonQ technology to yet another U.S. federal agency. The federal government is focused on shaping the U.S. into an internationally recognized leader in quantum computing. Agencies like the U.S. Air Force Research Lab (AFRL) have previously announced deals with IonQ to use the company’s systems for quantum networking research and application development.

“With the rapid advancement of technologies like quantum and AI, we as a nation must maintain our leadership position in these developing fields while also hardening our security tools against global actors like China and Russia,” said Rep. C.A. Dutch Ruppersberger (D-Md.). “I am pleased to have secured $40M to support this project to bring IonQ’s quantum systems to the ARLIS facility, and it’s exciting to see the first phase of this project underway, which will guide the DoD’s strategy for securing the quantum space.”

“Leading the way in emerging technologies like quantum computing is key to the future of our economy and our national security. That’s why I have fought to invest in quantum research and development – like the work being done at the University of Maryland’s ARLIS. Developing this cutting-edge quantum computing system will protect our military and intelligence community as they confront the ever-evolving security challenges our nation faces,” said Senator Van Hollen, a member of the Appropriations Committee.

“Delivering a first-of-its-kind, blind quantum computing system will enable ARLIS to test and validate communications for the DOD,” said Peter Chapman, President and CEO, IonQ. ”Through our collaboration with ARLIS and UMD teams, we look forward to each phase of development, construction, and deployment as we anticipate significant breakthroughs in the development of blind quantum computing protocols.”

Today’s announcement is the latest in a series of federal government investments in projects using IonQ’s systems. Earlier this year, the Department of Energy funded research at Oak Ridge National Laboratory to explore how quantum technology can modernize the power grid. In 2023, IonQ announced a $25.5 million deal with the U.S. Air Force Research Lab to deploy two barium-based trapped ion quantum computing systems for quantum networking research and application development. IonQ also works with enterprise customers like Airbus and Hyundai Motor to incorporate quantum solutions into several industries.

To learn more about IonQ’s latest system news and business developments, visit https://ionq.com/.

About IonQ

IonQ, Inc. is a leader in quantum computing that delivers high-performance systems capable of solving the world’s largest and most complex commercial and research use cases. IonQ’s current generation quantum computer, IonQ Forte, is the latest in a line of cutting-edge systems, boasting 36 algorithmic qubits. The company’s innovative technology and rapid growth were recognized in Fast Company’s 2023 Next Big Things in Tech List and Deloitte’s 2023 Technology Fast 500™ List, respectively. Available through all major cloud providers, IonQ is making quantum computing more accessible and impactful than ever before. Learn more at IonQ.com.

About the Applied Research Laboratory for Intelligence and Security

The Applied Research Laboratory for Intelligence and Security (ARLIS), based at the University of Maryland, was established in 2018 under the sponsorship of the U.S. Office of the Under Secretary of Defense for Intelligence and Security, intended as a long-term strategic asset for research and development in artificial intelligence, information engineering, and human systems. ARLIS combines expertise, research, and development in human behavior, social science, culture, and language with emerging and advanced technologies. This enables development of problem-focused, evidence-based solutions for security and intelligence challenges that can be operationalized quickly and at scale. Learn more at arlis.umd.edu.

IonQ Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Some of the forward-looking statements can be identified by the use of forward-looking words. Statements that are not historical in nature, including the words “potential”, “will”, “XX,” “XX and other similar expressions are intended to identify forward-looking statements. These statements include those related to potential additional funding and bookings for future project phases, the use of IonQ’s quantum computers in ARLIS’ research on cybersecurity, anticipated breakthroughs in secure quantum computing and in blind quantum computing protocols, the potential for additional, larger federal initiatives using IonQ’s technology, the expectation that ARLIS’ project and IonQ’s technology may improve national cybersecurity, IonQ’s quantum computing capabilities and plans, and access to IonQ’s quantum computers. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: risks associated with U.S. government sales, including provisions that allow the government to unilaterally terminate or modify contracts for convenience; changes in the competitive industries in which IonQ operates, including development of competing technologies; changes in laws and regulations affecting IonQ’s business; and IonQ’s ability to implement its business plans, forecasts and other expectations, and to identify and realize partnerships and opportunities. You should carefully consider the foregoing factors and the other risks and uncertainties disclosed in the Company’s filings, including but not limited to those described in the “Risk Factors” section of IonQ’s most recent Quarterly Report on Form 10-Q and other documents filed by IonQ from time to time with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and IonQ assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. IonQ does not give any assurance that it will achieve its expectations.

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