Cambridge Quantum Computing and Honeywell Announce New Investment and Strengthened Partnership

CAMBRIDGE,England,Mar. 3,2020 -- Cambridge Quantum Computing (CQC) announced today that Honeywell Ventures has deepened its collaboration with CQC by investing in the company. The investment comes after a significant period of collaboration between CQC and the quantum computing division of Honeywell,which included CQC becoming Honeywell's first beta user.

Ilyas Khan,CEO of CQC said: "We are excited to welcome Honeywell Ventures as a significant investor in CQC. The investment comes after a period of very close working cooperation,during which we have come to recognise the world class leading quantum computer that Honeywell has developed. It may well be one of the technology world's best kept secrets for over a generation."

He added: "At CQC,we are committed to using the most advanced tools and devices to develop the world's leading quantum applications and products. Our cutting-edge software complements Honeywell's innovative quantum technology and this investment and partnership is of real significance in the overall development of quantum computers and their real-world impact on corporations and governments globally."

Murray Grainger,Managing Director and Head of Honeywell Ventures,said: "Honeywell Ventures is committed to investing in the development of a quantum ecosystem and CQC is a world-leading player in the early evolution of what we believe will be a valuable and important sector that is strategic to many organizations across a variety of verticals."

In addition to announcing Honeywell Ventures' investment in CQC,Honeywell Quantum Systems (HQS) has published a scientific paper that provides details about the architecture of their QCCD (quantum charge-coupled device) trapped ion quantum processor that will be the world's most powerful quantum computer when it is released. CQC are proud and honoured to have been beta users of the HQS device that has led to this important scientific and technical achievement. The scientific paper can be accessed via the following link :

https://www.honeywell.com/content/dam/honeywell/files/Beta_10_Quantum_3_3_2020.pdf

About CQC

Cambridge Quantum Computing (CQC) is a world-leading quantum computing software company with over 60 scientists across offices in Cambridge (UK),London,San Francisco,Washington,DC and Tokyo. CQC builds tools for the commercialisation of quantum technologies that will have a profound global impact. CQC combines expertise in quantum software,specifically a quantum development platform (t|ket⟩™),enterprise applications in the area of quantum chemistry (EUMEN),quantum machine learning (QML),quantum natural language processing (QNLP) and quantum augmented cybersecurity (IronBridge™). For more information about CQC,visit www.cambridgequantum.com

About Honeywell Ventures

Honeywell Ventures is the strategic venture capital arm of Honeywell,based in Menlo Park,CA. The firm seeks to invest in early-stage high-growth companies from around the world that have emerging and disruptive technologies. It concentrates on companies that could scale faster with access to Honeywell customers,channels,intellectual property,advanced manufacturing capabilities and global presence.

Contact: press@cambridgequantum.com