Quantum Computing Inc. (QCI) and QPhoton Enter into a Multifaceted Partnership

Quantum Computing Inc., a Virginia based quantum software company specializing in developing optimization software for use with quantum computers, and QPhoton, a New Jersey based quantum photonics company developing products for use in biomedics, remote sensing, cyber security, and AI applications, have announced agreements that include an exclusive marketing agreement for the companies to jointly sell and market quantum and phonic products developed by the partners, a loan of up to $2.5 million from QCI to QPhoton, and an exclusivity agreement to allow QCI to negotiate exclusively for a limited time with QPhoton for a potential sale of QPhoton or its assets (or similar transaction). The companies are working to demonstrate a solution that companies QCI's quantum optimization software technology with QPhoton's quantum and photonic computing technologies by Q4 2022. Additional details about all of these elements of their partnership can be found in a press release provided by QCI here as well as QCI SEC filings that can be accessed here and here.

February 27, 2022