Dr. Christian Weedbrook reports

XANADU SECURES UP TO USD $10 MILLION IN ADDITIONAL DARPA SUPPORT TO ACCELERATE QUANTUM R&D ROADMAP

Xanadu Quantum Technologies Ltd. has received provisional approval for project funding worth up to $10-million (U.S.) under DARPA's (Defense Advanced Research Projects Agency) Quantum Benchmarking Initiative (QBI). This one-year contract extension reflects DARPA's continuing support and investment in Xanadu's R&D (research and development) and builds on the company's work in Stage B.

DARPA's QBI program evaluates leading quantum computing architectures to determine which approaches can deliver utility-scale performance within realistic budgets and real-world timelines. Under this contract, Xanadu expects to execute a dual-purpose strategy over the next 12 months: providing regular progress reports to DARPA for continued evaluation while directly allocating the majority of the funding to accelerate the advancement of critical components in its R&D road map.

Xanadu believes that its photonic quantum computing architecture offers distinct advantages over traditional quantum systems. Most notably, it has minimal cooling requirements due to room-temperature compute operations, a modular, networkable design and fast clock speeds. The company's latest photonic quantum computer, Aurora, not only validates the scalability and viability of Xanadu's photonic approach by demonstrating networkability, but the company believes it also establishes a foundation for all future fault-tolerant quantum systems -- systems built to tackle the world's most intractable problems.

"Ongoing participation in QBI reinforces Xanadu's goal of developing quantum computing solutions that deliver practical value across industries, including drug discovery, advanced chemistry, aerospace, defence and AI [artificial intelligence]," said Dr. Christian Weedbrook, founder and chief executive officer of Xanadu.

Successful completion of Stage B evaluations maintains Xanadu's path through the DARPA QBI program, where quantum computer concepts will undergo formal verification and validation to ensure they can be constructed as designed and operated as intended.

About Xanadu Quantum Technologies Ltd.

Founded in 2016, Xanadu is a Canadian photonic quantum computing company with the mission to build quantum computers that are useful and available to people everywhere. Xanadu is building fault-tolerant quantum computers using light, with systems designed to compute at room temperature. Xanadu develops both hardware and software, including PennyLane, its open-source quantum computing platform. Xanadu is the first pure play photonic quantum computing company to list on public markets (Nasdaq/Toronto Stock Exchange: XNDU) and is recognized globally for its breakthroughs in scalable quantum technologies.

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