Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Arqit Quantum Surges 19% After Expanding Launch Agreements With Virgin Orbit

Published 22/12/2021, 20:44
Updated 22/12/2021, 20:44

By Sam Boughedda

Investing.com — Arqit Quantum (NASDAQ:QMCO) (NASDAQ: ARQQ) announced an extension to its collaboration with Virgin Orbit on Wednesday, sending shares up19.4% to $26.39.

Virgin Orbit— which is to go public via a SPAC merger with NextGen Acquisition II Corp (NASDAQ:NGCA) — signed a new launch contract that ensures two dedicated launches for Arqit Quantum in addition to further commitments from the company.

The quantum encryption technology company has already delivered two satellites through Virgin Orbit's LauncherOne air-launched system, which will be a crucial component to its Platform-as-a-service. Both companies are collaborating on responsive space initiatives for Five Eyes nations, which comprises Australia, Canada, New Zealand, the United Kingdom, and the United States.

Arqit said it will launch additional customer-funded systems exclusively with Virgin Orbit, and that contract allows for up to five launches which will be realized as government contracts. 

In addition, the companies also announced the QuantumCloud Software License, which allows Virgin Orbit to use Arqit's platform to provide encryption to secure Virgin Orbit's global infrastructure. As a result, Virgin Orbit said it becomes "the world's first quantum safe launch services provider."

"I am delighted that another prestigious global brand has decided to use QuantumCloudTM to keep their customers' assets safe" said David Williams, founder of Arqit. "It is also great to be able to rely in Virgin Orbit's responsive launch capability to support the private instance contracts that we are selling to our government and defense customers."

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.