JERUSALEM--(BUSINESS WIRE)--QuantLR LTD, a Quantum Key Distribution (QKD) company and PacketLight Networks LTD, an optical network company and a RAD Group Company, have announced they will work together to form a more secure optical network by jointly developing an integrated QKD solution.
The announcement came following the recent signing of a Letter of Intent between the two companies, where they will cooperate and share information required for the development of the QKD solution as part of Layer 1 encryption of fiber optic link. The intention is to demonstrate the solution at the site of one of PacketLight Networks’ customers.
“We are happy to collaborate with PacketLight Networks to advance Quantum encryption solutions that are proven to be the only ultimately secured solutions to any eavesdropping and hacking attempts of communication lines in the present and in the future,” said Yanir Farber, CEO of QuantLR. “The collaboration with a leading company such as PacketLight Networks will accelerate our development process and enables us to offer the market a low-cost solution. The quantum encryption market is predicted to reach a sales volume of more than $24Bn in 2025 and we plan to be a significant player in this market.”
“Data security has become the most important aspect in data center connectivity over fiber and DWDM networks,“ says Koby Reshef, CEO of PacketLight Networks. “Partnering with QuantLR will allow us to provide an innovative encryption solution leveraging quantum mechanics to maintain a high level of data encryption at an affordable cost, answering our customers’ future security needs as they evolve in both complexity and importance.”
About QuantLR: QuantLR is an OurCrowd Labs/02 seed stage incubator portfolio company. Based in Jerusalem, QuantLR aims to provide versatile low-cost quantum cryptographic solutions based on quantum key distribution (QKD) technology to protect communicated data. This solution is proven to provide the ultimate security from any attack by contemporary or future, classical or quantum-based computers. QuantLR's solutions will be presented to the market as a component embedded within 5G communication hardware vendor products, and as stand-alone products. QuantLR is a spin out of Yissum, the technology transfer company of the Hebrew University.
About PacketLight NetworksTM: PacketLight NetworksTM offers a suite of leading 1U metro and long haul CWDM/DWDM and OTN solutions, as well as Layer-1 optical encryption for transport of data, storage, voice and video applications over dark fiber and WDM networks. PacketLight provides the entire optical layer transport solution within a highly integrated compact platform, designed for maximum flexibility, easy maintenance and operation, with real pay-as-you-grow architecture, while maintaining a high level of reliability and low cost.
About OurCrowd Labs/02: the OurCrowd Labs/02, seed stage incubator portfolio focuses on cutting-edge technology that will shape the future in innovative areas including AI, deep learning, autonomous transportation and smart cities. OurCrowd Labs/02, located in Jerusalem, is backed by OurCrowd, Motorola Solutions (NYSE: MSI), Reliance Industries (NSE: Reliance) and Yissum, the technology transfer company of the Hebrew University. The incubator is part of the world famous Israeli incubator program administered by the Israel Innovation Authority.
For Press Materials: http://blog.ourcrowd.com/QPPL