Arqit Quantum Shares Drop 13% After Contract With Australia, UK Governments

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By Chris Wack
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After contracting with Australia’s SmartSatCRC as part of an agreement between the UK and Australian governments to deliver the first phase of work to Australia related to Arkit’s Federated Quantum Systems project, shares of Arkit Quantum Inc. are 13%, the company said. were down at $16.18.

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The encryption technology company said that its FQS project for affiliated governments gives that government customer strategic control of a private instance of Arqit’s end-to-end QuantumCloud technology stack, which gives the customer complete freedom as well as other affiliated governments. Provides interoperability with systems. partner.

During the initial Space Bridge contract, which is funded for completion at the end of June 2022, Arqit will develop a plan for Australian partnerships with the Australian Government, Australia National University and the country’s supply chain partnerships with industrial partners. and the signed agreements also include plans for long-term funding of the full system.

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Write to Chris Wack at [email protected]

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