IonQ (NYSE:IONQ), Honeywell (NASDAQ:HON) and The Electric Power Board of Chattanooga partnered with the U.S. Department of Energy to boost quantum computing use cases in space, the government agency announced on Wednesday.
“This expansion shows how DOE is building the bridge from demonstration to deployment by adding commercial partners that can bring lab-proven systems into orbit and open pathways to market applications,” said Anthony Pugliese, DOE Chief Commercialization Officer and Director of OTC, in a statement. “With IonQ and Honeywell joining this Collaboration, we are strengthening the ecosystem that positions the United States to lead in the next generation of quantum and space technologies.”
IonQ CEO and Chairman Niccolo de Masi said the deal will help “demonstrate the power of quantum computing and networking to enable new applications for secure communications.”
“The Collaboration will leverage Honeywell’s quantum optical payload technology, expertise in satellite communications, and onboard quantum computing to deliver quantum-secured communications and quantum sensing,” Honeywell Aerospace Technologies executive Lisa Napolitano added. Honeywell also owns a quantum computing unit, Quantiuum, which was recently valued at $10B.
IonQ shares rose 1.3% in afternoon trading following the announcement, while Honeywell was fractionally higher.