BURNABY, British Columbia & SURREY, British Columbia--(BUSINESS WIRE)--B.C. Premier David Eby and Jobs, Economic Development, and Innovation Minister Brenda Bailey visited the Burnaby headquarters of D-Wave Quantum Inc. (NYSE: QBTS) today to celebrate the latest breakthroughs in quantum computing and gain a deeper understanding into how the innovative technology can be applied to today’s societal and business challenges. D-Wave also announced a new quantum training program with B.C.-based Quantum Algorithms Institute (QAI) to accelerate the development of a quantum-ready workforce. QAI brings together industry, academia and government to harness British Columbia’s reputation as a leader in quantum computing.
The visit comes following the release of the Province’s new StrongerBC: Future Ready Action Plan, which positions technology as a key growth area and looks to businesses to foster innovation and integrate technology to improve the way services are delivered. D-Wave, a leader in quantum computing systems, software, and services, and the only company in the world building both quantum annealing and gate-based quantum computers, has been advancing quantum science since its inception at UBC in 1999. The company recently achieved a significant scientific milestone demonstrating that its system’s use of quantum delivers a speedup over classical for an important class of hard problems.
We believe that D-Wave’s quantum technology is well suited to solving complex optimization problems, many of which are faced by the Province today. From electrical grid reliability to optimization of transportation and emergency response, today’s quantum computing technology can be used to develop new and innovative solutions to drive efficiencies.
“D-Wave is a B.C. innovation success story, driving the global race to solve the complex problems of today and tomorrow through quantum computing while creating jobs and opportunity here at home,” said Premier David Eby. “I am impressed by these technological advancements and encouraged to see firsthand that applications on D-Wave technology can help with a wide range of critical challenges including climate change, supply chains and energy.”
The new D-Wave and QAI joint training program will provide hands-on quantum computing training and experiential learning to B.C. researchers and students working on some of the most complex and challenging questions facing society. The program will provide access to D-Wave’s leading quantum computing technologies and help B.C. grow and retain top talent by building up a quantum-ready workforce who may ultimately be end users of the technology. The training program will be piloted over a two-year period and serves as a building block in supporting B.C. quantum innovation effort and building a quantum-knowledgeable and ready workforce.
“British Columbia and D-Wave have long been at the forefront of global quantum innovation and developing the highly skilled workforce that drives it,” said Mark W. Johnson, senior vice president at D-Wave. “We are excited to host Premier Eby and Minister Bailey today to provide them a behind-the-scenes look at our technology, discuss real-world applications of quantum, and highlight our newest training program with the QAI to build a quantum-ready workforce.”
"One aspect of our Future Ready Action Plan is aimed at building the workforce for emerging technologies, like quantum computing,” said Minister Bailey. “Our government is taking action to ensure emerging tech businesses like D-Wave continue to have access to a highly skilled and diverse talent pool. We need to train the workforce to be quantum ready now to ensure we can realize the benefits of this promising technology.”
“QAI is excited to partner with D-Wave to increase the number of people working with quantum technologies and provide practical, hands-on skills training and access to quantum hardware for students and researchers,” said Louise Turner, CEO of the QAI. “The partnership between QAI and D-Wave provides an opportunity to build on the objectives of the Future Ready Action Plan and expand B.C.’s internationally recognized quantum computing workforce. QAI works with B.C. companies to help them realize the advantages of this high-potential technology across a range of industries, including healthcare, transportation and logistics and the natural resource sector.”
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 modeling. D-Wave’s technology is being used by some of the world’s most advanced organizations, including Volkswagen, 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.
About the Quantum Algorithms Institute
The Quantum Algorithms Institute was established in British Columbia in 2020 to address the challenges and opportunities presented by the advent of commercial scale quantum computing. QAI is a collaboration between the BC government, BC’s academic community of universities and quantum experts, and BC’s growing sector of quantum computing companies. These groups and QAI are working with non-quantum companies across industries in BC and Canada to build experience in the real-world application of quantum solutions. We aim to increase quantum literacy in the Canadian economy and grow the quantum talent pool available for BC’s quantum industry sector.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which statements are based on beliefs and assumptions and on information currently available. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties, and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. We caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, which are subject to a number of risks. Forward-looking statements in this press release include, but are not limited to, statements regarding the results and impact of the new quantum training program with QAI. We cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management’s control, including general economic conditions and other risks, our ability to expand our customer base and the customer adoption of our solutions, and the uncertainties and factors set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in D-Wave Quantum Inc.’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, previously filed with the Securities and Exchange Commission, as well as factors associated with companies, such as D-Wave, that are engaged in the business of quantum computing, including anticipated trends, growth rates, and challenges in those businesses and in 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 the 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; and the risk that our securities will not maintain the listing on the NYSE. Furthermore, if the forward-looking statements contained in this press release prove to be inaccurate, the inaccuracy may be material. In addition, you are cautioned that past performance may not be indicative of future results. In light of the significant uncertainties in these forward-looking statements, you should not place undue reliance on these statements in making an investment decision or regard these statements as a representation or warranty by any person we will achieve our objectives and plans in any specified time frame, or at all. The forward-looking statements in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we have no current intention of doing so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.