LEESBURG, Va., Sept. 5, 2023 /PRNewswire/ -- Quantum Computing Inc. ("QCi" or the "Company") (Nasdaq: QUBT), an innovative, quantum optics and nanophotonics technology company, today announced the signing of a strategic sales and teaming agreement with AI-empowered cybersecurity assessment, continuous detection, and mitigation company, Assured Cyber Protection Ltd ("Recyber").
The key objective of the strategic sales and teaming agreement between QCi and Recyber is to coordinate efforts to market and deliver both companies' proprietary cyber security technologies and products. This initiative is a key step in the product roadmap to achieve a Zero-Trust (as defined by the National Institute of Standards and Technology) network environment using quantum authentication and Post Quantum Cryptography solutions. The companies believe that these solutions will have a near immediate global impact on the state-of-play in cyber security.
The companies believe that the novel and innovative technologies they each offer are complementary and provide opportunities to deliver cutting-edge solutions in a growth area, ahead of the curve. To launch the relationship, the companies have initially identified 13 sales opportunities with large, well-known international organizations within the healthcare, education, government, and banking sectors, and have advanced cross-sector discussions with several longstanding relationships. The terms of the teaming agreement require that the party initiating a client engagement receives 10% of the gross revenue generated on the engagement, over the term of the teaming agreement, with the remaining revenue to be divided up based on the tasks and technology solutions implemented. The length of the agreement is for one year with automatic renewable terms of one-year periods.
Recyber, based in London and Geneva, is a privately held cybersecurity company that combines automation, artificial intelligence, and advanced technology to reduce a business' cybersecurity risk by analyzing and modifying organizational and human behavior patterns and processes. Its endpoint, agent-based software platform accurately monitors, evaluates, detects, and mitigates cyber risk, resulting in a scalable and easy-to-use solution.
The Recyber proprietary offerings include a snapshot of an organization's cyber vulnerabilities through a taxonomic software, called Republic, that assesses employee cyber behaviors and enhances employee cybersecurity knowledge. The software platform also includes a monitoring service called Review that provides a continuous cyber risk scoring and diagnostic monitoring service and measures organizational security culture. Together, these services combine automated scanning with human-led penetration testing to prioritize the most critical vulnerabilities and offer immediate remediation guidance. Established in 2018, Recyber has successfully protected over 100 companies and has estimated preventing damages exceeding $100 million. Recyber, through its partnership with QCi, will become one of the first companies in Europe to offer quantum authentication and encryption solutions as part of its portfolio of cybersecurity technology offerings.
QCi's patented core technology is based on non-linear quantum optics and nanophotonic technologies used to condition, manipulate and measure single photons in the optical region to leverage the inherent stochastic behavior of quantum systems in cyber security applications. The technology is designed to work directly with existing telecom lasers and fiber-based communication systems to minimize the redesign of existing network architectures. The underlying methodology utilizes high efficiency photon entanglement sources and strict quantum mechanical measurement protocols in a layered architecture to create both secure transport layers (quantum networks) and endpoints (quantum authentication) which QCi believes will contribute greatly to holistic cybersecurity protection, beyond encryption.
Traditional security models typically operate under the assumption that anything inside the network is trustworthy and, as a result, strict authentication is often overlooked. QCi has developed and created a unique "Zero-Knowledge Proof Quantum Communication Protocol" that addresses this authentication vulnerability security gap. When coupled with an additional quantum encryption layer, the network can operate in a "zero trust" environment that assumes no inherent trust in any user, device, or system, regardless of whether they are inside or outside of the organization's network perimeter. This allows verification of transactions/communications without disclosing sensitive information, providing privacy and security in interactions, and enabling trustless decentralized systems, essentially creating a "zero trust" environment.
Commenting on the strategic sales and teaming agreement, Robert Liscouski, QCi's CEO stated, "The business community is recognizing that the cybersecurity threat is increasingly complex and building rapidly. The time to prepare and defend against these threats is now. QCi's technology and product offerings in this area make a strong case for partnership with leading cyber security companies to bring their clients the best cyber protection possible." Liscouski added, "We have known the founders of Recyber for many years and have watched their company grow into one of the most highly regarded and innovative experts in cybersecurity in Europe. The Recyber team's knowledge of the market and high-level relationships with some of the world's largest audit and compliance firms, makes Recyber an ideal partner for QCi. Recyber and QCi are jointly implementing business development plans and identifying opportunities that will showcase our technology solutions and introduce the benefits of quantum authentication and encryption to key companies outside the U.S. that have a sense of urgency to address cyber vulnerabilities."
Mitch Scherr, CEO and co-founder of Recyber, stated, "Recyber's proprietary cyber security platform coupled with QCi's quantum technology will deliver a powerful combination to bring significant benefit and value to our customers. Recyber has always been regarded as a leading-edge provider of cybersecurity capabilities providing customers with a high level of protection and confidence. Our platform is proven to be highly effective in uncovering cyber vulnerabilities, in both technical and human dimensions and QCI's products will greatly enhance that capability. When we identify security issues, our customers want an immediate and effective remedy, and we believe that QCi's innovative hardware will provide the best available quantum cyber security solutions."
In addition to the current partnership focusing on growth initiatives in the cybersecurity market, Recyber and QCi will explore sales and global expansion into the markets for QCi's other quantum intelligence, sensing, imaging, and computing technology platform products. As such, Recyber would support these sales as a value-added reseller (VAR) of QCi technologies in those regions.
For additional information on QCi's suite of solutions, please visit our website or contact our team directly.
About Quantum Computing Inc. (QCi)
Quantum Computing Inc. (QCi) (Nasdaq: QUBT)is an innovative, quantum optics and nanophotonics technology company on a mission to accelerate the value of quantum computing for real-world business solutions, delivering the future of quantum computing, today. The company provides accessible and affordable solutions with real-world industrial applications, using nanophotonic-based quantum entropy that can be used anywhere and with little to no training, operates at normal room temperatures, low power and is not burdened with unique environmental requirements. QCi is competitively advantaged delivering its quantum solutions at greater speed, accuracy, and security at less cost. QCi's core nanophotonic-based technology is applicable to both quantum computing as well as quantum intelligence, cybersecurity, sensing and imaging solutions, providing QCi with a unique position in the marketplace. QCi's core entropy computing capability, the Dirac series, delivers solutions for both binary and integer-based optimization problems using over 11,000 qubits for binary problems and over 1000 (n=64) qubits for integer-based problems, each of which are the highest number of variables and problem size available in quantum computing today. Using the Company's core quantum methodologies, QCi has developed specific quantum applications for AI, cybersecurity and remote sensing, including its Reservoir Photonic Computer series (intelligence), reprogrammable and non-repeatable Quantum Random Number Generator (cybersecurity) and LiDAR and Vibrometer (sensing) products. For more information about QCi, visit www.quantumcomputinginc.com.
About Assured Cyber Protection Ltd. (Recyber)
Recyber, a UK and Swiss based cybersecurity company, is dedicated to fostering a cyber-civilized world, starting with the workplace. With a human-centric approach, Recyber strives to democratize cybersecurity technologies, making them accessible to businesses of all sizes. By focusing on user-friendly products and solutions, Recyber ensures that organizations can implement effective cybersecurity measures. Simplifying complex concepts and emphasizing the significance of secure cyber behaviours, Recyber empowers decision-makers, including SME owners, finance professionals, HR managers, and IT experts, to navigate the cyber landscape confidently. For more information about Recyber, visit https://recyber.com/
Important Cautions Regarding Forward-Looking Statements
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. Those statements include statements regarding the intent, belief or current expectations of QCi and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.
QCi undertakes no obligation to update or revise forward-looking statements to reflect changed conditions. Statements in this press release that are not descriptions of historical facts are forward-looking statements relating to future events, and as such all forward-looking statements are made pursuant to the Securities Litigation Reform Act of 1995. Statements may contain certain forward-looking statements pertaining to future anticipated or projected plans, performance and developments, as well as other statements relating to future operations and results. Words such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," "aim to," or variations of these or similar words, identify forward-looking statements. These risks and uncertainties include, but are not limited to, those described in Item 1A in QCi's Annual Report on Form 10-K and other factors as may periodically be described in QCi's filings with the U.S. Securities and Exchange Commission.
SOURCE Quantum Computing, Inc