Leader in Cold Atom Quantum Technology Announces New Organizational Structure to Support Company’s Rapid Growth

Boulder, CO, Aug. 31, 2021 (GLOBE NEWSWIRE) -- ColdQuanta, the leader in Cold Atom Quantum Technology, today announced it has appointed Scott Faris as CEO. Faris joins ColdQuanta from Luminar Technologies, Inc., where he served as Chief Business Officer since 2016, including through the company’s initial public offering. Additionally, ColdQuanta announced it has organized its business into three divisions - Quantum Computing (“Hilbert”), Quantum Research as a Service (“QRaaS”), and ColdAtom Technologies (“CAT”) - to position the company as it scales and commercializes its products and services.

Mr. Faris is an experienced technology company executive with over three decades of operating, venture-financing and scaling experience. At Luminar, a provider of advanced sensor and software technologies enabling Proactive SafetyTM and autonomy solutions for the global transportation industry, Scott built and managed the company’s global business operations and in particular its supply chain and business development organizations. Prior to Luminar, Scott was CEO of Panaceutics, Inc. and Planar Energy, Inc., a company developing solid state batteries for electric vehicles. Scott has also served as CEO of Waveguide Solutions, which pioneered integrated optical chips, and COO of Ocean Optics, a global manufacturer of high-volume precision optical instrumentation. Since 2011 Scott has served on the Board of Directors of Lightpath Technologies, Inc. (NASDAQ:LPTH), a high-volume optical component manufacturer.

“ColdQuanta’s pioneering work in the field of Cold Atom Quantum Technology has positioned the company as a frontrunner in the industry,” said Mr. Faris. “ColdQuanta is accelerating its transition from its R&D roots to being an industry leader in the commercialization of quantum. I’m excited to lead ColdQuanta and collaborate with our customers, employees, and investors as we shape the future of quantum.”

“2021 has been a significant year of achievement for ColdQuanta and I have full confidence that Scott’s leadership will be invaluable as we launch Hilbert 1.0, our 100 Qubit Cold Atom Quantum Computer, and continue our rapid growth and development of our quantum product spectrum from clocks to radio-frequency detectors,” said Dana Anderson, ColdQuanta’s co-founder and CTO. “Quantum will affect nearly every industry over the next decade, providing widespread economic and technological impact. With its relentless focus on innovation, ColdQuanta is poised to lead this transformation and usher in the era of quantum.”

Scott will oversee the roll out of ColdQuanta’s newly formed divisions, which include:

Quantum Computing (code named Hilbert): The Quantum Computing division is developing the world leading Cold Atom Quantum Computing platform and is led by Paul Lipman, president of quantum computing. Earlier this year, the team achieved a significant milestone in the development of ColdQuanta’s quantum computer, code name Hilbert, by trapping and addressing 100 qubits in a large, dense 2-D cold atom array. "The availability of a large and scalable qubit register together with recent progress in high fidelity qubit control positions Hilbert's cold atom approach as a leading modality in the rapid development of quantum computing systems," said Mark Saffman, ColdQuanta's Chief Scientist for Quantum Information.

Quantum Research as a Service (QRaaS): The QRaaS division is led by Max Perez, general manager, Quantum Research as a Service. Building on ColdQuanta’s strong legacy and outstanding reputation of discovering breakthrough technology in support of government and enterprises, the division provides a world leading quantum research platform. QRaaS develops research, creates prototypes, and offers consulting services across a broad range of applications including high precision clocks, navigation, radio frequency receivers, and quantum networking and communications.

ColdAtom Technologies (CAT): The ColdAtom Technologies division provides critical supply chain quantum devices and machines such as glass vacuum cells and magneto optical traps (MOTs), and is led by acting general manager, Sandi Mays. ColdQuanta’s existing products are well suited for quantum computing companies, specifically those who use trapped Ion and cold/neutral atom modalities, and quantum lab environments.

About ColdQuanta

ColdQuanta is the leader in Cold Atom Quantum Technology, the most scalable, versatile, and commercially viable application of quantum. The company operates three lines of business - Quantum Computing, Quantum Research as a Service and ColdAtom Technologies. The Quantum Computing division will launch Hilbert 1.0, a cloud-based 100 qubit quantum computer, in late 2021. Quantum Research-as-a-Service supports the government and enterprises in developing quantum inertial sensing, radio frequency receivers, and networking technologies, including high precision clock prototypes which will be available in late 2022. The ColdAtom Technologies division provides products for quantum computing companies and quantum lab environments. ColdQuanta will engage commercial customers across all three divisions in late 2021. ColdQuanta is based in Boulder, CO with offices in Madison, Wisconsin and Oxford, UK. Find out more at www.coldquanta.com.

The name ColdQuanta and the ColdQuanta logo are both registered trademarks of ColdQuanta, Inc.

CONTACT: Karli Barokas ColdQuanta coldquanta@barokas.com