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D-Wave Signs Agreements with NEC to Accelerate Commercial Quantum Computing


BURNABY, British Columbia, Dec. 10, 2019 (GLOBE NEWSWIRE) -- D-Wave Systems Inc., the leader in quantum computing systems, software, and services, today announced the company has signed agreements with NEC Corporation, a leader in the integration of IT and network technologies, to drive development of hybrid services that combine the best features of quantum and classical computers, and make it easy to incorporate quantum capabilities into integrated workflows. D-Wave and NEC plan to market and sell D-Wave's Leaptm quantum cloud service, which includes hybrid tools and services, as well as new hybrid capabilities to be jointly developed. NEC has committed to invest $10 million in D-Wave. The collaboration will take effect upon the closing of NEC's investment, which is subject to certain conditions.

The collaboration will focus on three key areas:

"Japan is the birthplace of quantum annealing and has remained a global leader in quantum application development. Across government, business, and academia, Japanese D-Wave customers have pushed real-world application development forward by tapping into quantum to start solving business-critical problems today," said D-Wave's chief product officer and EVP of R&D, Alan Baratz. "Our collaboration with global pioneer NEC is a major milestone in the pursuit of fully commercial quantum applications."

The collaboration with NEC builds upon D-Wave's existing traction in the high-impact Japanese market.  Japanese customers include such market leaders as DENSO, Toyota Tsusho, Recruit Communications, Groovenauts, Sigma-i, Tohoku University, and more. To date, they have developed early applications in everything from manufacturing optimization to digital ad placement. NEC has a long-time reputation of bringing several technological "firsts" to the global market over the past century, making it an expert in pioneering new technologies with customer value at the fore. The collaboration with D-Wave gives NEC the unique ability to deliver practical quantum computing to their market through joint sales, marketing, and development.

"Quantum computing development is critical for the future of every industry tasked with solving today's most complex problems. Hybrid applications and greater access to quantum systems is what will allow us to achieve truly commercial-grade quantum solutions. In 1999, NEC succeeded in demonstrating the world's first quantum bit device, and today we continue to drive the market as a leader in the IT and network fields," said Motoo Nishihara, Executive Vice President, CTO, NEC Corporation. "D-Wave brings 20 years of leadership to bear both in hardware development and the identification of quantum-ready business and scientific applications. Our collaboration is aimed at fueling application development and business value today. In addition to the technological value of this partnership, customers will also be provided with great value and we look forward to building further on this collaboration."

About D-Wave Systems Inc.
D-Wave is the leader in the development and delivery of quantum computing systems, software, and services and is the world's first commercial supplier of quantum computers. Our mission is to unlock the power of quantum computing for the world. We do this by delivering customer value with practical quantum applications for problems as diverse as logistics, artificial intelligence, materials sciences, drug discovery, cybersecurity, fault detection, and financial modeling. D-Wave's systems are being used by some of the world's most advanced organizations, including NEC, Volkswagen, DENSO, Lockheed Martin, USRA, USC, Los Alamos National Laboratory, and Oak Ridge National Laboratory. With headquarters near Vancouver, Canada, D-Wave's US operations are based in Palo Alto, CA and Bellevue, WA. D-Wave has a blue-chip investor base including PSP Investments, Goldman Sachs, BDC Capital, DFJ, In-Q-Tel, PenderFund Capital, 180 Degree Capital Corp., and Kensington Capital Partners Limited. For more information, visit: www.dwavesys.com.

About NEC Corporation
NEC Corporation is a leader in the integration of IT and network technologies that benefit businesses and people around the world. The NEC Group globally provides "Solutions for Society" that promote the safety, security, efficiency and equality of society. Under the company's corporate message of "Orchestrating a brighter world," NEC aims to help solve a wide range of challenging issues and to create new social value for the changing world of tomorrow. For more information, visit NEC at https://www.nec.com.

Contact
D-Wave Systems Inc.
dwave@launchsquad.com


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