Virgin Orbit and Arqit Quantum announce an extension to their collaboration that will accelerate space-based encryption services to private, defense, and intelligence customers globally.
Arqit has contracted exclusively with Virgin Orbit for Arqit’s launch needs for up to 5 launches from Spaceport Cornwall beginning in 2023.
Virgin Orbit has acquired a quantum cloud encryption license from Arqit to provide encryption protection for its launch and space solutions businesses.
The two companies have previously announced a $5 million investment from Virgin Orbit into Arqit’s SPAC.
LONG BEACH, Calif. (Virgin Orbit PR) — Virgin Orbit, the responsive launch and space solutions company that has announced a planned business combination with NextGen Acquisition Corp. II (“NextGen”) (NASDAQ: NGCA), has signed a new launch contract covering two dedicated launches for Arqit Quantum, Inc. (NASDAQ: ARQQ), a global leader in quantum encryption technology, plus additional commitments. The two Arqit satellites delivered to Earth orbit by Virgin Orbit’s LauncherOne air-launched system will be the core component of Arqit’s Platform-as-a-Service, delivering the root source of randomness to all Arqit data centres using Arqit’s ground breaking Quantum protocol ARQ19.
SWINDON, UK (UK Space Agency PR) — Trailblazing technology that will help tackle climate change and predict global disasters using satellites is receiving new funding from the UK Space Agency.
Eleven UK organisations have been awarded a share of just under £7 million of government funding to put into action the latest advances in space innovation. The majority of the projects focus on climate change or environmental management, with others designed to secure our telecommunication systems and protect digital infrastructure against cyber-attacks.
LONDON (Arqit PR) — Arqit, the quantum encryption company, has signed a collaboration agreement with Northrop Grumman in the UK. Through the collaboration, Arqit, which is developing end-to-end quantum encryption using satellite distribution, will work with Northrop Grumman to develop and understand this novel technology for potential use in defence and national security settings.
The collaboration work programme has already begun in order to assess technological possibilities. The next phase of the collaboration agreement is to assess technical performance on project applications, to be agreed to as early as next month.
The Federated Quantum System developed and launched in the UK with support from the UK Space Agency
CORNWALL, UK, 11 June 2021 (Arqit PR) – Arqit Limited (“Arqit”), a leader in quantum encryption technology, has today announced at the G7 Leaders Conference in Cornwall, that it has formed an international consortium of companies and government organisations to provide its quantum encryption technology to government customers in a federated system concept, called Federated Quantum System (FQS). The UK, USA, Japan, Canada, Italy, Belgium, and Austria are now represented.
Arqit invented a system which uses satellites to distribute quantum keys to data centres. These keys are delivered using a new patented protocol called ARQ19, which solves the “Global versus Trustless” problem which previously prevented the adoption of Satellite Quantum Key Distribution (QKD). Arqit further invented a method, called QuantumCloud™ to translate the benefits of this quantum key distribution to any form of endpoint or cloud machine without the need for any special hardware. The first version of QuantumCloudTM launches for live service to commercial customers in 2021.
Arqit Limited (“Arqit”), a leader in quantum encryption technology, has entered into a definitive agreement to combine with Centricus Acquisition Corp. (Nasdaq: CENH, CENHW, CENHU) (“Centricus”), a publicly-traded special purpose acquisition company.
Arqit has pioneered a unique quantum encryption technology, QuantumCloud™, which makes the communications links of any networked device secure against current and future forms of hacking – even an attack from a quantum computer.
The transaction with Centricus is expected to provide up to $400 million of gross proceeds to Arqit (assuming minimal redemption from existing Centricus shareholders). This includes funds from a fully committed PIPE of approximately $70 million with participation from Arqit business partners Virgin Orbit and Sumitomo Corporation, and Centricus sponsor Heritage Group.
Pro forma equity value of the business combination is approximately $1.4 billion, and pro forma enterprise value is approximately $1.0 billion at the PIPE price of $10.00 per share, assuming minimal redemption from existing Centricus shareholders.
This transaction will accelerate the next stages of Arqit’s business plan, including the mass commercialization of its products and the launch of two satellites, which is targeted for 2023.
Investor webcast and call is scheduled for May 12, 2021, at 9:00 AM EST / 2:00 PM BST.
NEW YORK and LONDON (Centricus/Arqit PR) — Arqit Limited (“Arqit”), a leader in quantum encryption technology and Centricus Acquisition Corp. (Nasdaq: CENH) (Nasdaq: CENHW) (Nasdaq: CENHU) (“Centricus”), a special purpose acquisition company, have entered into a definitive agreement that would result in Arqit becoming a publicly listed company (the “Business Combination Agreement”). Upon closing of the transaction, a newly formed Cayman holding company, Arqit Quantum Inc., will merge with Centricus, acquire Arqit and register its shares for listing on the Nasdaq Stock Market.