New alliance focuses on joint go-to-market activities to bring near-term quantum technology to Canadian government and businesses
D-Wave Quantum Inc. (NYSE:QBTS), a leader in quantum computing systems, software, and services and the world's first commercial supplier of quantum computers, is pleased to announce a new strategic alliance with Deloitte Canada to expedite the exploration and adoption of quantum computing solutions among governments and businesses in Canada. Deloitte is a global leader in serving the public sector, and this collaboration with D-Wave aims to accelerate the adoption of near-term quantum technologies, such as annealing quantum computing and quantum-hybrid, to tackle key computationally complex challenges faced by the public sector in Canada.
"D-Wave has been working with Deloitte in the United States on a variety of different use cases related to transportation and national security," said Irwan Owen, vice president of growth for D-Wave. "We are excited to be expanding our relationship into Canada and bringing the computational power of quantum to help transform the Canadian government's operations and fuel innovation."
Deloitte and D-Wave view the power of quantum computing as transformational for governments. From optimizing infrastructure and transportation to addressing the needs of citizens through a more reliant energy grid and improved emergency response, there are a variety of public sector problems facing Canada that could benefit from today's quantum computing technologies. Quantum computing works synergistically with other technologies including cloud, artificial intelligence, and high-performance computing, allowing for greater computational power to solve complex problems. This strategic alliance brings together the well-established professional services of Deloitte with the quantum expertise of D-Wave to align with the Canadian national quantum strategy.
"Governments have the challenging mandate to deliver services to industry and citizens in an increasingly complex and changing environment. Emerging technologies, such as quantum computing, can play an important role," said Andrew Pau, transport sector leader for the government and public services (G&PS) industry at Deloitte Canada. "We're excited to join forces with D-Wave to lead a transformational shift that will more effectively address Canada's toughest problems, especially those in transportation and logistics, to drive efficiencies, sustainability, and prosperity for Canada."
About D-Wave Quantum Inc.
D-Wave is a leader in the development and delivery of quantum computing systems, software, and services, and is the world's first commercial supplier of quantum computers—and the only company building both annealing quantum computers and gate-model quantum computers. Our mission is to unlock the power of quantum computing today to benefit business and society. We do this by delivering customer value with practical quantum applications for problems as diverse as logistics, artificial intelligence, materials sciences, drug discovery, scheduling, cybersecurity, fault detection, and financial modelling. D-Wave's technology has been used by some of the world's most advanced organizations including Mastercard, Deloitte, Davidson Technologies, ArcelorMittal, Siemens Healthineers, Unisys, NEC Corporation, Pattison Food Group Ltd., DENSO, Lockheed Martin, Forschungszentrum Jülich, University of Southern California, and Los Alamos National Laboratory.
Forward-Looking Statements
Certain statements in this press release are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially from the information expressed or implied by these forward-looking statements and may not be indicative of future results. Forward-looking statements in this press release include, but are not limited to, statements regarding anticipated results of the collaboration between D-Wave and Deloitte. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management's control, including the risk that the collaboration does not produce the anticipated results; general economic conditions and other risks; our ability to expand our customer base and the customer adoption of our solutions; risks within D-Wave's industry, including anticipated trends, growth rates, and challenges for companies engaged in the business of quantum computing and the markets in which they operate; the outcome of any legal proceedings that may be instituted against us; risks related to the performance of our business and the timing of expected business or financial milestones; unanticipated technological or project development challenges, including with respect to the cost and/or timing thereof; the performance of our products; the effects of competition on our business; the risk that we will need to raise additional capital to execute our business plan, which may not be available on acceptable terms or at all; the risk that we may never achieve or sustain profitability; the risk that we are unable to secure or protect our intellectual property; volatility in the price of our securities; the risk that our securities will not maintain the listing on the NYSE; and the numerous other factors set forth in D-Wave's Annual Report on Form 10-K for its fiscal year ended December 31, 2022 and other filings with the Securities and Exchange Commission. Undue reliance should not be placed on the forward-looking statements in this press release in making an investment decision, which are based on information available to us on the date hereof. We undertake no duty to update this information unless required by law.
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