Quantum New Briefs November 18: Oak Ridge National Laboratory Adds IQM Resonance Quantum Cloud Service to Its Quantum Computing User Program • Quantinuum Together with Mitsui Advance Unforgeable Quantum Tokens Over Fibre Network in First Ever Trial • DOE’s Quantum Computing User Program Seeks Input Through New RFI on Access and Resources • Quantum Computing, Inc. Announces Registered Direct Offering of $40 Million Priced At-The-Market Under Nasdaq Rules • Australia Announces $60m in Defense Quantum Technology Grants

Oak Ridge National Laboratory Adds IQM Resonance Quantum Cloud Service to Its Quantum Computing User Program

IQM Quantum Computers (IQM), a global leader in designing, building, and selling superconducting quantum computers, today announced that its quantum cloud service ‘IQM Resonance’ will be available to Oak Ridge National Laboratory (ORNL), the largest U.S. Department of Energy science and energy laboratory, for accelerating research.
Through ORNL’s Quantum Computing User Program, end-users such as academic institutions, researchers, scientists, and developers will access IQM Crystal, a high-fidelity quantum processing unit with square-lattice, and IQM Star, a unique star topology with a central resonator, to explore computational research applications.
QCUP, which facilitates access for more than 400 users worldwide, seeks to support the growth of quantum information science ecosystems and provide a broad spectrum of user access to the best available quantum computing systems.
This announcement underscores both organizations’ commitment to push the boundaries of computational capabilities and advancing scientific research, marking the beginning of offering a quantum cloud service to QCUP end-users long term.

Quantinuum Together with Mitsui Advance Unforgeable Quantum Tokens Over Fibre Network in First Ever Trial

In a long anticipated trial, Quantinuum. together with Mitsui & Co., Ltd. today announced the successful delivery of quantum tokens across a 10km fibre-optic network in Japan as per November 18 news release. This is the first time such a delivery has been accomplished.
Quantum tokens are a new financial instrument that take advantage of the properties of quantum physics to meet the robust demands of asset trading without the communication overheads required by traditional financial systems. Quantum tokens are transmitted across fibre-optic quantum key distribution (QKD) networks, which are rapidly expanding around the globe. Today’s announcement with Mitsui demonstrates growing industry recognition of quantum tokens’ potential in financial services.
Quantum tokens are designed to use quantum physics to prevent forgery, while ensuring transactions can be settled near-instantly, whereas traditional payments systems rely on double-entry bookkeeping to prevent double-spending of funds. This adds time, overhead and risk to every transaction, as digital systems are consulted to confirm funds are available and to settle transactions.
Quantum tokens instead rely on the no-cloning theorem of quantum physics to prevent forgeries and double-spending. Only the intended recipient will receive the correct token data, which can only be spent at one location in the future. This enables near-instant transaction settlement by removing the need to check multiple systems or wait for network confirmations.

DOE’s Quantum Computing User Program Seeks Input Through New RFI on Access and Resources

The Department of Energy’s Quantum Computing User Program, or QCUP, at the Oak Ridge Leadership Computing Facility (OLCF) enables scientific discovery and technological innovation by providing a diverse community of scientific researchers access to quantum computing resources. This competitive merit-based access program partners with quantum computing vendors to provide cloud-based access to quantum computing resources and to facilitate user interactions, resource management and reporting. The program engages a broad community of users in the development and curation of these resources for testing and evaluation of quantum computing for scientific research.
QCUP is releasing a Request for Information to gather input from all relevant parties on the current and upcoming availability of quantum computing resources, conventions for measuring, tracking, and forecasting quantum computing performance, and methods for engaging with the diversity of stakeholders in the quantum computing community according to November 15 announcement,. Responses received to the RFI will inform QCUP on both immediate and near-term availability of hardware, software tools and user engagement opportunities in the field of quantum computing.
To submit a response to the RFI, follow the Request for Information form in the link provided.
The RFI form queries respondents on current hardware and software offerings, strategies for engaging and educating stakeholders in the quantum field, and tools for managing resources and monitoring usage. Responses will inform the program on both immediate and near-term availability and opportunities in the field of quantum computing.

Quantum Computing, Inc. Announces Registered Direct Offering of $40 Million Priced At-The-Market Under Nasdaq Rules

Quantum Computing Inc. (Nasdaq: QUBT), an innovative, integrated photonics and quantum optics technology company, recently announced that it has entered into a securities purchase agreement for the purchase and sale of 16,000,000 shares of common stock at a purchase price of $2.50 per share, priced at-the-market under Nasdaq rules, pursuant to a registered direct offering, resulting in gross proceeds of $40 million, before deducting placement agent commissions and other offering expenses. The closing of the offering is expected to occur on or about November 18, 2024, subject to the satisfaction of customary closing conditions.
The Company intends to use the net proceeds from the offering for the repayment of debt, working capital, and general corporate purposes. Titan Partners Group, a division of American Capital Partners is acting as the sole placement agent for the offering.