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ColdQuanta Sponsors Research at University of Wisconsin to Accelerate Neutral Atom Quantum Computer Commercialization

January 30, 2019

BOULDER, Colo.--(BUSINESS WIRE)--Jan 30, 2019--ColdQuanta, a pioneer in the development of commercial products used in ultracold-atom quantum devices and research efforts, announced today that it is making a strategic investment in quantum computing in a new Madison-based branch of ColdQuanta together with a sponsored research award to the University of Wisconsin–Madison. This first award funds the program for 18 months to develop core performance aspects of the quantum computer making it suitable for commercialization.

“I am grateful for the opportunity to begin transitioning our many years of quantum computer research into a substantial commercial development effort,” said Mark Saffman, Ph.D., UW–Madison Professor of Physics and Chief Scientist for Quantum Information at ColdQuanta. “This is the logical next step, as we have already succeeded in moving our quantum computing approach beyond fundamental scientific research. This investment enables us to accelerate our efforts toward an engineering-driven product roadmap.”

“The unique UW quantum computer architecture allows us to rapidly scale the number of qubits towards a commercially viable machine, with good fidelity and a high level of interconnectivity,” said Timothy Day, Executive Chairman for ColdQuanta. “The approach is further enabled by ColdQuanta’s unique and highly-compact cold atom subsystem. We are committed not only to the development of this potentially disruptive quantum computing architecture, but also to the commercialization of related quantum devices.”

Dr. Day will be sharing his perspective on quantum-enabled devices, markets for quantum information systems, and the knock-on impact to the photonics industry as a whole, in a moderated Lasers & Photonics Marketplace Seminar panel discussion presented by Laser Focus World at Photonics West, 4:00 p.m. PST, Monday, February 4 in San Francisco, California.

About ColdQuanta

ColdQuanta, Inc., based in Boulder, Colorado with offices in Madison, Wisconsin and Oxford, UK, designs and manufactures unique products enabling ultracold-atom-based quantum devices and related quantum research and development. Founded in 2007 as a spinoff from the University of Colorado, Boulder, since its inception ColdQuanta has had an active pipeline of federally- and commercially-funded research and development efforts in quantum science and quantum devices. These efforts have resulted in a range of commercial products from compact ultrahigh vacuum chambers to complete turnkey ultracold atom systems, one of which is currently operating on the International Space Station. In 2018 the company closed on $6.75 million in financing led by Maverick Ventures with participation from Global Frontier Investments.

ColdQuanta’s strategic product development focuses on secure quantum communications networks, quantum inertial sensing and navigation, radiofrequency (RF) sensing, and quantum information system applications.

For more information, visit www.coldquanta.com.

The name ColdQuanta and the ColdQuanta logo are both registered trademarks of ColdQuanta, Inc.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190129005960/en/

CONTACT: Regional

Robert S. Williamson III, Ph.D.

ColdQuanta, Inc.

608-213-7255

rob.williamson@coldquanta.comTrade

Jeff Muscatine

Prospero Consulting Group (for ColdQuanta)

650-814-9089 mobile

jeff@prosperoconsulting.biz

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA COLORADO

INDUSTRY KEYWORD: EDUCATION UNIVERSITY TECHNOLOGY HARDWARE RESEARCH SCIENCE

SOURCE: ColdQuanta

Copyright Business Wire 2019.

PUB: 01/30/2019 12:01 AM/DISC: 01/30/2019 12:01 AM

http://www.businesswire.com/news/home/20190129005960/en