Autumn Statement

Quantum Exponential Group PLC

23 November 2023

 

 23 November 2023

Quantum Exponential Group plc

 (the 'Company' or 'Quantum Exponential')

UK Government Re-affirms its Commitment to Innovation and Technology with the Launch of Five New Quantum Missions in the Chancellor's Autumn Statement

Quantum Exponential Group plc (AQUIS: QBIT), a company focused on investing in quantum technology, is pleased to note, the inclusion of five new quantum missions in Jeremy Hunt's, Chancellor of the Exchequer, Autumn Statement.  This builds on the Government's £2.5 billion National Strategy announced earlier in the year and it's a clear indication of the Government's support and commitment to make quantum accessible across a range of technologies including sensing, navigation systems, computing, and communications.

The five missions outlined below highlight the breadth and reach of quantum technology in what we hope is a driver for greater collaboration and investment from the public and private sectors.

The five missions are:

·    By 2035, there will be accessible, UK-based quantum computers capable of running 1 trillion operations and supporting applications that provide benefits well in excess of classical supercomputers across key sectors of the economy.

·    By 2035, the UK will have deployed the world's most advanced quantum network at scale, pioneering the future quantum internet.

·    By 2030, every NHS Trust will benefit from quantum sensing-enabled solutions, helping those with chronic illness live healthier, longer lives through early diagnosis and treatment.

·    By 2030, quantum navigation systems, including clocks, will be deployed on aircraft, providing next-generation accuracy for resilience that is independent of satellite signals.

·    By 2030, mobile, networked quantum sensors will have unlocked new situational awareness capabilities, exploited across critical infrastructure in the transport, telecoms, energy, and defence sectors.

Steven Metcalfe, CEO of Quantum Exponential said:

"The inclusion of the five missions' statements in the Chancellor's budget indicates a clear commitment by the UK Government to roll out and expand a broad range of quantum technologies across several sectors. The time to invest in these innovative technologies is now, both from a private and public perspective, if we are to deliver on the very ambitious commitments outlined by the Chancellor's autumn statement and transform the UK into a global leader in quantum."

For more information on the National Quantum Strategy Missions visit: National Quantum Strategy Missions - GOV.UK (www.gov.uk)

**ENDS**

For more information, visit the Company's website: https://www.quantumexp.co.uk/ or contact:

Steven Metcalfe, Chief Executive Officer  c/o  [e-mail]

Novum Securities  (AQSE Corporate Adviser)        Tel: [phone]

David Coffman, George Duxberry                 

Oberon Capital (Broker)                               Tel: [phone]

Mike Seabrook, Chris Crawford

St Brides Partners Limited (Financial PR)    [e-mail]

Catherine Leftley, Ana Ribeiro, Isabelle Morris   

Notes to Editors

About Quantum Exponential Group plc

Quantum Exponential is a first of its kind, AQSE Growth Market SPAC, focused on opportunities in quantum technology and the wider quantum computing sector, with an advisory board made up of industry advisors, entrepreneurs, and technology investment professionals with broad access to quantum opportunities and markets. Quantum Exponential's investment strategy is to assemble a portfolio of minority investments in early-stage global quantum technology companies, primarily in NATO-allied countries, offering institutional and private investors access to revolutionising technologies and industries in the realms of artificial intelligence, manufacturing and healthcare.

Quantum Exponential trades on AQSE Growth Market under the ticker symbol "QBIT'.

 

END