BTQ Technologies Announces its Acceptance into the Quantum Industry Canada Consortium
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- BTQ is pleased to be joining the Quantum Industry Canada ("QIC") consortium, along with other leading quantum technology companies such as DWave and Xanadu
- Quantum Industry Canada's mission is to ensure that Canadian quantum innovation and talent is translated into Canadian business success and economic prosperity
- Earlier this year, the Canadian Minister of Innovation, Science, and Industry announced a $1.4 million investment in QIC as part of the National Quantum Strategy
VANCOUVER, BC, May 15, 2023 /CNW/ - BTQ Technologies Inc. (the "Company" or "BTQ") (NEO: BTQ) (FSE: NG3) (OTCQX: BTQQF), a global quantum technology company focused on securing mission critical networks, is pleased to announce its acceptance into Quantum Industry Canada ("QIC"), a consortium of Canada's top quantum technologies companies.
BTQ is pleased to make further inroads into the Canadian quantum technologies space by joining a list of prestigious QIC member companies such as DWave, Xanadu, evolutionQ, agnostiQ, and 1Qbit.
"Joining Canada's top quantum technologies companies in the Quantum Industry Canada consortium is another milestone for BTQ. Our team is committed to doing its part in helping make Canada a global quantum technologies leader, and we look forward to collaborating and innovating with government, private industry, and fellow consortium members to do so."
– Olivier Roussy Newton, CEO of BTQ
"We are happy to welcome another innovative Canadian quantum technologies company in BTQ to the consortium. We look forward to working alongside BTQ's team and the rest of the consortium to cement Canada's position as a leader in quantum commercialization."
– Scott Totzke, Executive Director, Quantum Industry Canada
Quantum Industry Canada's mission is to ensure that Canadian quantum innovation and talent is translated into Canadian business success and economic prosperity. They do so by facilitating opportunities for representatives from key industries to meet with QIC members to explore solutions to real-world problems using quantum technology. QIC also aims to strengthen the relationship between the Government of Canada and the Canadian quantum industry.
Earlier this year, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, announced an investment of $1.4 million in QIC as part of the National Quantum Strategy. This landmark investment is yet another gesture of conviction in the importance of quantum technologies by the Government of Canada.
To further drive collaboration and commercialization, QIC recently announced it signed a memorandum of understanding to establish the International Council of Quantum Industry Associations, bringing together four global associations: Quantum Industry Canada, the United States Quantum Economic Development Consortium, the Japanese Quantum Strategic Industry Alliance for Revolution, and the European Quantum Industry Consortium. This newly formed international council will strengthen communication and collaboration among companies in the consortia as they develop quantum technologies on a global scale. QIC will be hosting a council members' meeting in the near future.
For more information on the QIC, visit www.quantumindustrycanada.ca
The Government of Canada has invested more than $1 billion in quantum since 2012, which has in turn made Canada a recognized leader in quantum innovation. The Canadian government has acknowledged the opportunity to leverage the current momentum of research and development to spark economic prosperity for Canada through the impactful adoption of quantum innovations and the accelerated growth of the Canadian quantum industry. Applying these emergent technologies to advance Canada's economic interests, including aligning technology needs with economic development opportunities, requires effective collaboration across the country, a key reason for QIC's creation.
The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, made an announcement in January 2023 regarding Canada's National Quantum Strategy. This new initiative, which has received $360 million in funding, will play a vital role in shaping the future of quantum technologies in Canada. It is expected to create numerous job opportunities while driving the commercialization of quantum technology. Canada's strong global leadership in quantum research will be reinforced and expanded, and the country's quantum technology companies and talent are expected to see significant growth. Additionally, to support the growth of a robust quantum community and cultivate a talent pipeline, the Natural Sciences and Engineering Research Council of Canada (NSERC) has pledged $137.9 million through its Alliance grants and Collaborative Research and Training Experience (CREATE) grants, further bolstering Canada's strengths in quantum science.
BTQ was founded by a group of post-quantum cryptographers with an interest in addressing the urgent security threat posed by large-scale universal quantum computers. With the support of leading research institutes and universities, BTQ is combining software and hardware to safeguard critical networks using unique post-quantum services and solutions.
Connect with BTQ: Website | LinkedIn
ON BEHALF OF THE BOARD OF DIRECTORS
Olivier Roussy Newton
CEO, Chairman
Neither the NEO nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
Forward Looking Information
Certain statements herein contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to the business plans of the Company, including with respect to its research partnerships, and anticipated markets in which the Company may be listing its common shares. Forward-looking statements or information often can be identified by the use of words such as "anticipate", "intend", "expect", "plan" or "may" and the variations of these words are intended to identify forward-looking statements and information.
The Company has made numerous assumptions including among other things, assumptions about general business and economic conditions, the development of post-quantum algorithms and quantum vulnerabilities, and the quantum computing industry generally. The foregoing list of assumptions is not exhaustive.
Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information are based on assumptions and involve known and unknown risks which may cause actual results to be materially different from any future results, expressed or implied, by such forward-looking statements or information. These factors include risks relating to: the availability of financing for the Company; business and economic conditions in the post-quantum and encryption computing industries generally; the speculative nature of the Company's research and development programs; the supply and demand for labour and technological post-quantum and encryption technology; unanticipated events related to regulatory and licensing matters and environmental matters; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting blockchains); risks related to the direct and indirect impact of COVID-19 including, but not limited to, its impact on general economic conditions, the ability to obtain financing as required, and causing potential delays to research and development activities; and other risk factors as detailed from time to time. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE BTQ Technologies Corp.
E: [email protected]; Bill Mitoulas, Investor Relations, T: +1.416.479.9547, E: [email protected]
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