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D-Wave Quantum Inc. (NYSE: QBTS) Announces European Office, Signs Two-Year Contract Extension with QuantumBasel

  • D-Wave and QuantumBasel announced a two-year extension to the strategic agreement between the companies to accelerate quantum and quantum-hybrid application development in Europe
  • D-Wave will open a European office on the QuantumBasel campus to establish an onsite presence supporting the companies’ joint efforts to fast-track the region’s commercialization of quantum computing
  • D-Wave’s European customers include QuantumBasel, BBVA, Koç Holding, Satispay, Poznan Superconducting and Network Center, and Cineca

D-Wave Quantum (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 quantum innovation hub, recently announced a two-year extension to the strategic agreement between the companies to accelerate quantum and quantum-hybrid application development in Europe.

As a part of the agreement, D-Wave will open a European office on the QuantumBasel campus to establish an onsite presence supporting the companies’ joint efforts to fast-track the region’s commercialization of quantum computing. D-Wave’s commitment to opening its European office reflects the growing regional customer interest in and usage of the company’s annealing quantum computing solutions, including the Advantage(TM) system.

Advantage is a fifth-generation annealing quantum system with 5,000+ qubits and 15-way connectivity. D-Wave has incorporated two decades of quantum technology development experience and over ten years of customer feedback to build the first and only quantum computer designed for business applications and operating today.

In addition to QuantumBasel, D-Wave’s European customers include BBVA, Koç Holding, Satispay, Poznan Superconducting and Network Center, and Cineca. Several other leading organizations also utilize D-Wave’s technology including Mastercard, Deloitte, ArcelorMittal, Siemens Healthineers, Unisys, NEC Corporation, Pattison Food Group Ltd., DENSO and Lockheed Martin.

“This extended partnership with D-Wave solidifies our shared dedication to quantum innovation in Switzerland and beyond,” said Damir Bogdan, CEO of QuantumBasel (https://ibn.fm/CA6hg). “Our collaboration is a promise to drive quantum advancements and progress towards broader commercial adoption.”

The initial strategic collaboration between D-Wave and QuantumBasel was signed in December 2022, which named D-Wave as the annealing quantum technology provider for QuantumBasel, giving the center’s tenants and customers access to the Advantage annealing quantum computer via D-Wave’s real-time Leap(TM) quantum cloud service. Since the agreement, uptownBasel and D-Wave have successfully led joint go-to-market initiatives and worked on numerous customer engagements.

Using the Leap quantum cloud service, D-Wave customers have developed quantum hybrid applications for use cases in manufacturing, logistics, financial services, life sciences, materials science, retail, and transportation. With quantum computational processing power, D-Wave is helping businesses accelerate time-to-solution for their complex computing problems. The company shares real-world quantum applications at a business scale through its client success stories (https://ibn.fm/DgnCG).

“QuantumBasel and D-Wave share a vision of solving the world’s most complex problems for the betterment of industry and society. 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,” said Dr. Alan Baratz, CEO of D-Wave. “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.”

For more information, visit the company’s website at www.DWaveQuantum.com.

NOTE TO INVESTORS: The latest news and updates relating to QBTS are available in the company’s newsroom at https://ibn.fm/QBTS

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 the opening of D-Wave’s European office, and the potential benefits of D-Wave’s European presence and the continued collaboration between D-Wave and QuantumBasel. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management’s control, including the availability of office space at QuantumBasel, general economic conditions and other risks; the company’s ability to expand its customer base and the customer adoption of its 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 the company; risks related to the performance of the company’s 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 the company’s products; the effects of competition on its business; the risk that the company will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; the risk that D-Wave may never achieve or sustain profitability; the risk that the company is unable to secure or protect its intellectual property; volatility in the price of the company’s securities; the risk that the company’s 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 the company on the date hereof. The company undertakes no duty to update this information unless required by law.

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