D-Wave Quantum Inc. (NYSE: QBTS) Announces Partnership Extension and Launch of New Hybrid Quantum Solver

• D-Wave announced an extension of its partnership with Aramco to address geophysical optimization challenges using D-Wave’s quantum technology
• Over the past two years, the Aramco Research Center has utilized D-Wave’s cutting-edge quantum technologies to solve intricate optimization problems related to seismic imaging
• D-Wave announced the launch of a new hybrid quantum solver for nonlinear programs, designed to tackle increasingly complex real-world problems at its Qubits 2024 user conference

D-Wave Quantum (NYSE: QBTS), a leader in quantum computing systems, software, and services, has announced an extension of its partnership with Aramco, a global leader in energy and chemicals, to address geophysical optimization challenges using quantum technology.

Located in Delft, Netherlands, the Aramco Research Center (the “Center”) is dedicated to advancing computing technologies to tackle global energy issues. Over the past two years, the center has utilized D-Wave’s cutting-edge quantum technologies to solve intricate optimization problems related to seismic imaging—a sophisticated technique akin to ultrasound, employed to map geological layers several kilometers beneath the surface.

With the assistance of D-Wave, the Center has successfully generated its initial subsurface maps by processing tens of gigabytes of seismic data. Its goal for 2024 is to utilize D-Wave quantum technologies to process a terabyte of seismic data. Leveraging D-Wave’s quantum computers and hybrid solvers via the Leap™ quantum cloud service, Aramco’s research team has developed hybrid classical-quantum geophysical applications. These advancements have resulted in notable performance improvements over classical computing methods in terms of solution time and scalability.

“I’m excited to see how far we’ve been able to push quantum technologies to tackle such a large optimization problem as subsurface imaging,” said Marcin Dukalski, Quantum Applications Lead at the Center (https://ibn.fm/YSxgR). “We look forward to expanding our work with D-Wave, which will be centered on reaping even greater tangible benefits from the Advantage2™ system.”

Dr. Trevor Lanting, D-Wave’s Chief Development Officer, said that together with Aramco, D-Wave is demonstrating its quantum technology’s ability to take on core data challenges in geophysical research. “We look forward to helping Aramco researchers maximize quantum’s positive impact on their computational challenges as they look to turn data into usable knowledge of the subsurface.”

At its recent global Qubits 2024 user conference, D-Wave announced the launch of a new hybrid quantum solver for nonlinear programs, designed to tackle increasingly complex real-world problems. This new solver, now accessible via D-Wave’s Leap quantum cloud service, is expected to enhance customers’ ability to solve large-scale optimization problems, surpassing the capabilities of existing technologies.

The new hybrid solver supports up to two million variables and constraints, marking a tenfold increase in problem size capacity compared to previous D-Wave solvers for certain applications, as indicated by preliminary benchmarking studies. This solver is part of D-Wave’s expanding portfolio of commercial quantum optimization solutions, aligning with the company’s ambitious go-to-market (“GTM”) growth strategy announced earlier this year. D-Wave’s solutions, which encompass hardware, software, and professional services, aim to substantially improve time-to-solution for organizations seeking to optimize their operational processes and performance.

Real-world problems, such as production scheduling, involve complex interactions between multiple variables. D-Wave’s new solver is particularly adept at managing nonlinear relationships, offering an advantage over solvers restricted to linear relationships. Its user-friendly interface simplifies the conversion of real-world problems into hybrid quantum problem-solving approaches, offering flexibility and accuracy across various applications:

• Optimized workforce scheduling: Industries with large hourly workforces or 24/7 operations can streamline staffing processes, enhance productivity, and reduce costs, while ensuring compliance with labor laws and employee availability and preferences.
• Enhanced production scheduling: Manufacturers can optimize task sequences in assembly lines to minimize completion times and maximize throughput, considering factors such as machine availability, processing times, and due dates to better meet customer demands.
• Efficient and sustainable logistics routing: Commercial trucking fleets and tour operators can optimize routes to reduce drive time, manage fuel consumption, and address carbon emissions, thereby lowering costs and improving fleet utilization. Preliminary internal studies show that the new hybrid quantum solver can find feasible routes for up to ten times more cities than previous solutions in scenarios like the Traveling Salesperson Problem, the challenge of finding the shortest route around a list of destinations.

“We are confident that this solver will simplify and accelerate customers’ journey to successful quantum technology adoption, helping them more quickly drive return-on-investment, and gain a competitive edge,” said Dr. Alan Baratz, CEO of D-Wave (https://ibn.fm/ykttN). “Many organizations are recognizing that their most complex computational problems go well beyond the capabilities of existing solutions. They’re adopting hybrid quantum solutions to find better answers to transform operations faster and improve the bottom line.”

For more information, visit the company’s website at www.DWaveQuantum.com.

NOTE TO INVESTORS: The latest news and updates relating to QBTS are available in the company’s newsroom at https://ibn.fm/QBTS

Forward-Looking Statements

Certain statements in this press release are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially from the information expressed or implied by these forward-looking statements and may not be indicative of future results. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond company management’s control, including the risks set forth under the heading “Risk Factors” discussed under the caption “Item 1A. Risk Factors” in Part I of the company’s most recent Annual Report on Form 10-K or any updates discussed under the caption “Item 1A. Risk Factors” in Part II of its Quarterly Reports on Form 10-Q and in its other filings with the SEC. Undue reliance should not be placed on the forward-looking statements in this press release in making an investment decision, which are based on information available to the company on the date hereof. The company undertakes no duty to update this information unless required by law.

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