IonQ Announces New $25.5M Quantum Deal with United States Air Force Research Lab

Deal solidifies public-private relationship advancing quantum science and U.S. national security interests

IonQ (NYSE: IONQ), an industry leader in quantum computing, today announced an expanded relationship with the Air Force Research Lab (AFRL) to deploy two barium-based trapped ion quantum computing systems for quantum networking research and application development.

The deal comes one year after IonQ announced an agreement with AFRL to provide access to the company’s trapped ion systems, and will further enhance AFRL’s research mission. As part of the contract, IonQ will deliver and set up systems at AFRL’s location in Rome, N.Y.

“AFRL is seeing incredible achievements on trapped ion quantum systems to enable and grow US quantum technology, the innovation occurring on the frontlines by industry will bring revolutionary technologies to our warfighters,” said Michael Hayduk, Deputy Director, Air Force Research Laboratory, Information Directorate.

This announcement follows an upswing of activity by the U.S. federal government supporting development of quantum technology, including Congress’ 2018 creation of the National Quantum Initiative (NQI), a broad, interagency program which secured funding for quantum research and development.

“I applaud the Air Force for its work to advance quantum technology and its applications as they relate to our national security. Quantum computing is sure to be a game-changing field that will yield critically important technologies,” said Rep. C.A. Dutch Ruppersberger (D-Md.). “We cannot afford to find ourselves behind China when it comes to the research and development efforts to enhance military capabilities on the battlefield. This partnership will leverage the Air Force’s resources and brightest minds to ensure the United States continues to make great strides in quantum technology and I was proud to help secure the necessary funding.”

“Quantum computing is sure to play a key role in the future of our economy, our global competitiveness, our national security, and so much more. That’s why I was glad to support federal participation in this public-private partnership between the Air Force and Maryland-based IonQ to facilitate their work in building quantum systems that will help safeguard our nation against emerging security threats. I will keep working to bring investments to Maryland that position our state and our nation to be at the forefront of advanced technologies,” said Sen. Chris Van Hollen (D-Md.).

“As IonQ’s systems approach 64 algorithmic qubits (#AQ 64) and usher in the era of enterprise-grade quantum computing, we are committed to supporting the nation’s security interests. This partnership will significantly help advance U.S. defense technologies as quantum computers increasingly become a prevalent centerpiece of national computing stacks,” said IonQ CEO Peter Chapman. “This agreement with AFRL will advance quantum communications, networking, and computing, while continuing our progress from basic research to directly supporting agency missions.”

In the second quarter of 2023, IonQ achieved a record-setting $28 million in bookings. The deal also comes on the heels of a contract IonQ signed with Switzerland-based QuantumBasel to establish a European quantum data center.

To learn more about how you can get started on an IonQ system today, please contact us at: https://ionq.com/get-access.

About IonQ

IonQ, Inc. is a leader in quantum computing, with a proven track record of innovation and deployment. IonQ’s current generation quantum computer, IonQ Forte, is the latest in a line of cutting-edge systems, boasting an industry-leading 29 algorithmic qubits. Along with record performance, IonQ has defined what it believes is the best path forward to scale.

IonQ is the only company with its quantum systems available through the cloud on Amazon Braket, Microsoft Azure, and Google Cloud, as well as through direct API access. IonQ was founded in 2015 by Dr. Christopher Monroe and Dr. Jungsang Kim based on 25 years of pioneering research. To learn more, visit www.ionq.com.

IonQ Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Some of the forward-looking statements can be identified by the use of forward-looking words. Statements that are not historical in nature, including the words “anticipate,” “expect,” “suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,” “projects,” “should,” “could,” “would,” “may,” “will,” “forecast” and other similar expressions are intended to identify forward-looking statements. These statements include those related to the success of the IonQ and AFRL partnership; the capabilities available as the result of the partnership; IonQ’s quantum computing capabilities and plans; access to IonQ’s quantum computers; the ability to test and execute quantum algorithms on IonQ’s quantum computers; the opportunity to test and optimize novel quantum-enhanced algorithms for computational challenges on IonQ’s quantum computers; the ability to implement characterization and error correction techniques; the accuracy of quantum algorithms run on IonQ’s quantum computers; and the problems that can be solved by IonQ’s quantum computers. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: market adoption of quantum computing solutions and IonQ’s products, services and solutions; the ability of IonQ to protect its intellectual property; changes in the competitive industries in which IonQ operates; changes in laws and regulations affecting IonQ’s business; IonQ’s ability to implement its business plans, forecasts and other expectations, and identify and realize additional partnerships and opportunities; risks associated with U.S. government sales, including provisions that allow the government to unilaterally terminate or modify contracts for convenience and the uncertain scope and impact of a possible U.S. government shutdown(s) or operation under continuing resolutions; and the risk of downturns in the market and the technology industry including, but not limited to, as a result of the COVID-19 pandemic and/or increased inflationary pressures. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties disclosed in the Company’s filings including but not limited to those described in the “Risk Factors” section of the Company’s most recent Form 10-Q, and other documents filed by IonQ from time to time with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and IonQ assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. IonQ does not give any assurance that it will achieve its expectations.

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