With a new interim CEO recently announced, ColdQuanta is adding to its team by naming Rushton McGarr as Chief Financial Officer and that it has retained the services of PJ Solomon to guide the company in an upcoming capital raise. ColdQuanta is a little different from other quantum companies because they develop a wide variety of quantum related products including quantum computers, quantum clocks, quantum positioning systems, and quantum RF sensors. Their current quantum computer development, codenamed Hilbert, is planned to be a 100 qubit processor with high connectivity and fidelity. The machine is expected to be completed in the third quarter of 2021 and will be installed in ColdQuanta’s Boulder facility. It will be made available to cloud customers in late 2021 or early 2022 with a second machine slated to be sold to a customer in 2022. For more about these developments, you can view ColdQuanta’s news release about its CFO and financial advisor here and information about their product portfolio and upcoming quantum computer here and here.

March 31, 2021