MD-IONQ

IonQ (NYSE: IONQ) and Classiq, leaders in the quantum computing industry, today announced that winners of this year’s annual UK Quantum Hackathon – hosted by the National Quantum Computing Centre’s (NQCC) – used IonQ quantum computers and Classiq’s software among several other quantum systems, when developing solutions for novel quantum applications.

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This is the second year in a row that IonQ and Classiq have teamed up to enable hackathon teams to design, optimize and execute quantum algorithms for IonQ’s quantum computers. Classiq’s software simplifies the circuit design process by allowing users to define their quantum circuit parameters before the software converts it into an optimized quantum circuit.

“We’re delighted that IonQ’s quantum computers were used by the best and brightest quantum computing talent in the UK. It’s inspiring to be part of an incredible event that fosters the next generation of quantum leaders,” said Peter Chapman, President and CEO of IonQ. “The fact that the first place winning team – and, in fact, all three winners – used IonQ for their projects is humbling and an incredible honor.”

“It is impressive to see the projects submitted by these talented students and researchers. We’re proud that Classiq’s software and our integration with IonQ has enabled them to achieve these winning results,” said Nir Minerbi, CEO and co-founder of Classiq. “The NQCC has delivered yet another world-class hackathon, and we believe it is a wonderful contribution to inspiring and developing future quantum talent.”

The winning teams presented quantum application use cases for areas like risk aggregation, evaluation for insurance losses, network design and National Health Service (NHS) forecasting. Each teams’ approach was evaluated for scalability and how each application could address challenges in areas such as healthcare, energy and engineering.

“One of the objectives of our annual UK Quantum Hackathon is to drive the advancement of practical use cases, facilitating the migration of quantum computing from academia to industry.” said Dr Michael Cuthbert, Director, NQCC. "IonQ has been a quantum processing unit (QPU) provider that has powered Hackathon winners for the past two years. We congratulate all who have been involved in this successful event.”

The UK Quantum Hackathon is the NQCC’s flagship annual event, delivered as part of their user engagement program, SparQ. From students to early career researchers, the event brought together teams of coders with industry mentors, to tackle practical challenges and develop solutions using quantum computing. During the three-day event, 13 teams including over 70 coders displayed innovative spirit and creativity.

About IonQ

IonQ, Inc. is a leader in quantum computing that delivers high-performance systems to solve the world’s largest and most complex commercial and research use cases. IonQ’s current generation quantum computer, IonQ Forte, is the latest in a line of cutting-edge systems, boasting 36 algorithmic qubits. The company’s innovative technology and rapid growth were recognized in Fast Company’s 2023 Next Big Things in Tech List and Deloitte’s 2023 Technology Fast 500™ List, respectively. Available through all major cloud providers, IonQ is making quantum computing more accessible and impactful than ever before. Learn more at IonQ.com.

About Classiq

Classiq Technologies, the leading quantum software company, provides an all-encompassing platform (IDE, compiler and OS) with a single point of entry into quantum computing, taking you from algorithm design to execution. The high-level descriptive quantum software development environment, tailored to all levels of developer proficiency, automates quantum programming. This ensures that a broad range of talents, including those with backgrounds in AI, ML and linear algebra, can harness quantum computing without requiring deep, specialized knowledge of quantum physics. Classiq democratizes access to quantum computing and equips its users to take full advantage of the quantum computing revolution, including access to a broad range of quantum hardware.

Classiq’s core technology, algorithmic quantum circuit compilation, is engineered to power the quantum ecosystem of today and the future. Classiq works closely with quantum cloud providers and advanced computation hardware developers providing software for use with quantum computers, HPC and quantum simulators.

Backed by investors such as HPE, HSBC, Samsung, Intesa Sanpaolo and NTT, Classiq’s world-class team of scientists and engineers has distilled decades of quantum expertise into its groundbreaking quantum engine. Follow Classiq on LinkedIn, X or YouTube, visit the Slack community , GitHub repository and website, www.classiq.io to learn more.

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 are intended to identify forward-looking statements. These statements include those related to the company’s technology driving commercial advantage in the future, the ability for third parties to implement IonQ’s offerings to increase their quantum computing capabilities, the effect of increased availability of customer support functions, IonQ’s quantum computing capabilities and plans, access to IonQ’s quantum computers, increases in algorithmic qubit achievement, and the scalability and reliability of IonQ’s quantum computing offerings. 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: changes in the competitive industries in which IonQ operates, including development of competing technologies; changes in laws and regulations affecting IonQ’s business; IonQ’s ability to implement its business plans, forecasts and other expectations, identify and realize partnerships and opportunities, and to engage new and existing customers. 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 IonQ’s most recent Quarterly Report on 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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