IonQ to Present EV Research Results, Latest Quantum System Availability for Hyundai Motor Company and Airbus at Q2B 2022
IonQ (NYSE: IONQ), an industry leader in quantum computing, today announced that its scientific leadership team will be presenting results from its advanced battery chemistry model project with Hyundai Motor Company at the Q2B conference in Santa Clara, CA, December 6-8, 2022. The results showcase the advantages of quantum computing in studying lithium compounds involved in next-generation electric vehicle battery chemical reactions, and how quantum is an effective tool for chemistry simulation. The full research paper is available to view on arXiv at https://arxiv.org/abs/2212.02482. Additionally, IonQ will be providing an update on its separate machine learning and image recognition project with Hyundai Motor Company, as well as announcing IonQ Forte's availability for Hyundai Motor Company and Airbus.
On Wednesday, December 7, Senior Staff Scientist Sonika Johri and Technical Director of Partnerships, Nicole Barberis, will be presenting a session, titled: "Quantum Computing for the Future Automotive Industry: Image Recognition and Battery Chemistry with IonQ." The two will provide an overview of IonQ's ongoing technology and quantum algorithm innovations with Hyundai in the areas of lithium batteries and computer vision, before diving into the application advances and hardware results that illustrate the anticipated quantum advantage in these areas. These forward-thinking investments are key parts of Hyundai's strategy to build mobility solutions for a future which is smart and sustainable.
At the conference, IonQ is also announcing the availability of IonQ Forte for Hyundai and Airbus, where the system will see use in Hyundai's chemistry research and machine learning work, as well as in Airbus' cargo loading optimization project announced this fall. IonQ Forte features 32 all-to-all connected perfect qubits and enables quantum algorithms to be tested at much larger scales, paving the way for more realistic modeling of real-world quantum applications in multiple industries. With all-to-all connectivity between qubits, quantum application developers can write more efficient quantum programs. For more information on IonQ Forte, lease visit: https://ionq.com/quantum-systems/forte.
In a separate session on Tuesday, December 6, IonQ Senior Quantum Applications Researcher Luning Zhao and Accenture Global Quantum Computing Lead Carl Dukatz will provide an update on the work between IonQ and Accenture to accelerate quantum computing business experimentation in organizations globally and across industries. The two speakers will highlight quantum's value in addressing PFAS pollution around the globe, offering potential new solutions for environmental remediation through quantum simulation of molecular bonds.
The sessions follow closely on the heels of IonQ's presentations at Quantum World Congress, another major industry event, where co-founder and Chief Scientist Chris Monroe presented two sessions on the role of quantum for the U.S. government and its importance to America's national security and global technology leadership. IonQ also recently announced a $13.4 million contract with the U.S. Air Force Research Lab to provide them with access to trapped ion systems for quantum computing hardware research and development. For more information on IonQ's federal and commercial partnerships, visit the company's booth #G6 at Q2B.
For all other business information, please refer to the Q3 2022 financial results announced on November 14, 2022.
IonQ, Inc. is a leader in quantum computing, with a proven track record of innovation and deployment. IonQ's current generation quantum computer, IonQ Forte, is the latest in a line of cutting-edge systems, including IonQ Aria, a system that boasts industry-leading 25 algorithmic qubits. Along with record performance, IonQ has defined what it believes is the best path forward to scale.
IonQ is the only company with its quantum systems available through the cloud on Amazon Braket, Microsoft Azure, and Google Cloud, as well as through direct API access. IonQ was founded in 2015 by Dr. Christopher Monroe and Dr. Jungsang Kim based on 25 years of pioneering research. To learn more, visit www.ionq.com.
IonQ Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Some of the forward-looking statements can be identified by the use of forward- looking words. Statements that are not historical in nature, including the words "anticipate," "expect," "suggests," "plan," "believe," "intend," "estimates," "targets," "projects," "should," "could," "would," "may," "will," "forecast" and other similar expressions are intended to identify forward-looking statements. These statements include those related to the Company's ability to further develop and advance its quantum computers and achieve scale, including by continuing to improve its algorithmic qubits at the same pace or at all; the potential benefits of quantum computing and IonQ's collaborations and partnerships, including its new partnerships with Hyundai and Airbus and its contract with the AFRL; the success or outcome of new contracts entered into with IonQ customers; and IonQ's market opportunity, anticipated growth, and future financial performance, including management's financial outlook for the fourth quarter and full year 2022. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: market adoption of quantum computing solutions and the Company's products, services and solutions; the ability of the Company to protect its intellectual property; changes in the competitive industries in which the Company operates; changes in laws and regulations affecting the Company's business; the Company's ability to implement its business plans, forecasts and other expectations, and identify and realize additional partnerships and opportunities; and the risk of downturns in the market and the technology industry including, but not limited to, as a result of the COVID-19 pandemic and/or increased inflationary pressures. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of IonQ's Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 and other documents filed by the Company from time to time with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. The Company does not give any assurance that it will achieve its expectations.
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