D-Wave Quantum Inc. (NYSE: QBTS), a provider of both annealing and gate-model quantum computing systems, announced it has been selected to receive a $1,566,250 grant from the U.S. National Science Foundation (NSF) through the agency's National Quantum Virtual Laboratory (NQVL) program. The funding will support D-Wave's role in the ERASE (Erasure Qubits and Dynamic Circuits for Quantum Advantage) project, which focuses on developing foundational technologies for fault-tolerant quantum computing.
Led by Yale University, the ERASE project brings together researchers from leading academic institutions and industry partners to advance dual-rail gate-model quantum computing hardware, software, error correction, and applications. D-Wave, through its New-Haven, Connecticut-based subsidiary Quantum Circuits, LLC, will provide ERASE researchers with access to its superconducting dual-rail gate-model quantum computing resources. The award moves ERASE into the second phase of the NQVL program, underscoring the NSF's continued support for the project's approach to scalable, fault-tolerant quantum computing.
The grant is part of a broader effort to strengthen U.S. leadership in quantum innovation. Dr. Alan Baratz, CEO of D-Wave, stated: 'NSF's continued support for the ERASE project highlights the national importance of accelerating progress toward scalable, fault-tolerant quantum computing. We believe that D-Wave's dual-rail technology can play a meaningful role in that effort, while building the technical foundation and skilled workforce needed to sustain U.S. leadership in quantum computing.'
D-Wave is the world's first commercial supplier of quantum computers and the only company to offer both annealing and gate-model quantum computing products and services. The company's mission is to help customers realize the value of quantum computing today through enterprise-grade systems available on-premises and via its Leap quantum cloud service, which offers 99.9% availability and uptime. More than 100 organizations across commercial, government, and research sectors trust D-Wave to address complex computational challenges using quantum computing.
The full press release is available at https://ibn.fm/5um9O. More information about D-Wave can be found at https://www.dwavequantum.com.
The NSF's investment in the ERASE project through the NQVL program reflects the strategic importance of quantum computing for national security and economic competitiveness. By supporting research into fault-tolerant quantum computing, the NSF aims to accelerate the development of quantum systems that can solve problems beyond the reach of classical computers. D-Wave's involvement in the project, particularly through its dual-rail technology, positions the company at the forefront of this critical research area.
Forward-looking statements in this press release are subject to risks and uncertainties, including those discussed in D-Wave's filings with the SEC. The company undertakes no duty to update this information unless required by law. For more details on forward-looking statements and disclaimers, visit http://IBN.fm/Disclaimer.
