Arqit to Lead UK-AU Space Bridge Project
11 January 2022 - 12:00AM
Business Wire
- Arqit has signed a contract to define Australian
participation in Arqit’s Federated Quantum System project
Arqit Quantum Inc. (“Arqit”), a global leader in quantum
encryption technology, is pleased to announce it has contracted
with Australia’s SmartsatCRC under an agreement between the UK and
Australian Governments to deliver the first phase of work to
Australia relating to Arqit’s Federated Quantum System Project
(“FQS”).
Arqit’s FQS project for allied governments delivers strategic
control to that government customer of a private instance of
Arqit’s end to end QuantumCloud™ technology stack, which delivers
full independence to the customer as well as interoperability with
the systems of other allied partners.
During Arqit’s initial Space Bridge contract, which is funded to
completion at the end of June 2022, Arqit will work with the
Australian Government, Australia National University, and
industrial partners to develop a plan for Australian participation
with Australian supply chain involvement and the agreements signed
also cover planning for long term funding of the full system.
Arqit Founder, Chairman and CEO, David Williams, added:
“Australia is a critical ally and partner for the UK and USA so it
is important that Australia has the opportunity to deploy FQS along
with the other allied countries already committed.”
-ends-
About Arqit
Arqit supplies a unique quantum encryption Platform-as-a-Service
which makes the communications links of any networked device secure
against current and future forms of attack – even from a quantum
computer. Arqit’s product, QuantumCloud™, enables any device to
download a lightweight software agent, which can create encryption
keys in partnership with any other device. The keys are
computationally secure, optionally one-time use and zero trust.
QuantumCloud™ can create limitless volumes of keys in limitless
group sizes and can regulate the secure entrance and exit of a
device in a group. The addressable market for QuantumCloud™ is
every connected device.
About The Space Bridge Framework Agreement
The Space Bridge Framework Arrangement was signed on Tuesday, 23
February 2021 at the British High Commissioner’s residence in
Canberra, Australia, and at Westminster, in London, United
Kingdom.
The arrangement was signed by the Australian Minister for
Industry, Science and Technology Karen Andrews, UK Minister for
Science, Research and Innovation Amanda Solloway, in the presence
of British High Commissioner to Australia Vicki Treadell CMG MVO,
High Commissioner to the UK The Hon George Brandis QC, Australian
Space Agency Head Enrico Palermo, UK Space Agency Chief Executive
Officer Dr Graham Turnock, UK Space Agency International Director
Dr Alice Bunn, Chair of UKSpace Nick Shave and Space Industry
Association of Australia Chief Executive Officer James Brown, who
joined the signing virtually.
SmartSat CRC, with support from the UK Science and Innovation
Network and Satellite Applications Catapult, is running research
projects that align to the mutual benefits of the UK and Australia
and create collaboration through the Space Bridge. The aim is to
create and foster partnerships across academia and industry in both
the UK and Australia and could ultimately lead to bigger
collaborative research projects that grow industry capacity,
provide an innovative end-product or capability, and build upon the
respective space ecosystems of each country to mutual benefit.
Caution About Forward-Looking Statements
This communication includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements, other than statements of historical facts,
may be forward-looking statements. These forward-looking statements
are based on Arqit’s expectations and beliefs concerning future
events and involve risks and uncertainties that may cause actual
results to differ materially from current expectations. These
factors are difficult to predict accurately and may be beyond
Arqit’s control. Forward-looking statements in this communication
or elsewhere speak only as of the date made. New uncertainties and
risks arise from time to time, and it is impossible for Arqit to
predict these events or how they may affect it. Except as required
by law, Arqit does not have any duty to, and does not intend to,
update or revise the forward-looking statements in this
communication or elsewhere after the date this communication is
issued. In light of these risks and uncertainties, investors should
keep in mind that results, events or developments discussed in any
forward-looking statement made in this communication may not occur.
Uncertainties and risk factors that could affect Arqit’s future
performance and cause results to differ from the forward-looking
statements in this release include, but are not limited to: (i)
risks that the business combination disrupts Arqit’s current plans
and operations, (ii) the outcome of any legal proceedings that may
be instituted against the Arqit related to the business
combination, (iii) the ability to maintain the listing of Arqit’s
securities on a national securities exchange, (iv) changes in the
competitive and regulated industries in which Arqit operates,
variations in operating performance across competitors, changes in
laws and regulations affecting Arqit’s business and changes in the
combined capital structure, (v) the ability to implement business
plans, forecasts, and other expectations after the completion of
the business combination, and identify and realize additional
opportunities, (vi) the potential inability of Arqit to convert its
pipeline or orders in backlog into revenue, (vii) the potential
inability of Arqit to successfully deliver its operational
technology which is still in development, (viii) the risk of
interruption or failure of Arqit’s information technology and
communications system, (ix) the enforceability of Arqit’s
intellectual property, and (x) other risks and uncertainties set
forth in the sections entitled “Risk Factors” and “Cautionary Note
Regarding Forward-Looking Statements” in Arqit’s annual report on
Form 20-F, filed with the U.S. Securities and Exchange Commission
(the “SEC”) on December 16, 2021 and in subsequent filings with the
SEC. While the list of factors discussed above and the list of
factors presented in the final prospectus are considered
representative, no such list should be considered to be a complete
statement of all potential risks and uncertainties. Unlisted
factors may present significant additional obstacles to the
realization of forward-looking statements.
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Media relations enquiries: Arqit: Julie Moon T: +44 7825
503 950 E: julie.moon@arqit.uk SEC Newgate:
arqit@secnewgate.co.uk
Investor relations enquiries: Arqit: E:
investorrelations@arqit.uk Gateway: arqit@gatewayir.com
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