Arqit’s product QuantumCloud™ can make 58% energy saving
November 11 2022 - 2:00AM
Arqit Quantum Inc. (Nasdaq: ARQQ, ARQQW), a leader in quantum-safe
encryption, supported a recent study by Dr Basel Halak and Dr
Yildiran Yilmaz of Southampton University and Arqit Chief
Cryptographer Dr Daniel Shiu called Comparative Analysis of Energy
Costs of Asymmetric vs Symmetric Encryption-Based Security
Applications comparing the energy consumption between asymmetric
and symmetric key applications. The study confirms that Arqit’s
technology can reduce the carbon footprints for operationally
deployed cryptography.
Forecasters (A. Andrae and T. Edler) predict
that communication technology will contribute up to 23% of the
global greenhouse gas emissions in 2030. The imminence of the
quantum threat requires quantum encryption solutions to safeguard
data against this ominous cyber threat. While these solutions are
urgently needed to protect our communication technology, they are
also known to be computationally intensive, hence energy
demanding.
The academic study found that global adoption of
symmetric key systems could save 58% of energy in comparison to the
energy required for asymmetric encryption alternatives. So as the
migration to quantum safe encryption begins, symmetric key
agreement from Arqit offers the environmentally superior
alternative, as well as being the only method with independently
verified security proof in the market demonstrating zero trust
provable quantum safety.
Arqit Founder, Chairman and CEO David
Williams, said: “Arqit’s mission is to keep safe the data
of our governments, enterprises and citizens. The Security Proof
published recently demonstrates that Arqit is uniquely well
positioned to do this. Our customers also tell us that they care
about the impact of their operations on the environment and since
some of them are amongst the biggest cloud vendors, small
improvements are relevant. As world leaders at COP27 this week
consider how to transition to a low carbon economy it is relevant
that we can help our customers to contribute to this mission whilst
also becoming provably quantum safe.”
About Arqit
Arqit supplies a unique quantum safe encryption
Platform-as-a-Service which makes the communications links or data
at rest of any networked device or cloud machine secure against
current and future forms of attack – even from a quantum computer.
Arqit’s product, QuantumCloud™, enables any device to download a
lightweight software agent, which can create encryption keys in
partnership with any number of other devices. The keys are
computationally secure, optionally one-time use and zero trust.
QuantumCloud™ can create limitless volumes of keys in limitless
group sizes and can regulate the secure entrance and exit of a
device in a group. Arqit believes it is the only company in the
market to have achieved Independent Assurance Review of its
Security Proof demonstrating that the software can produced
encryption keys which are zero trust and provably secure, i.e.
permanently safe against attack from even a full scale quantum
computer. This review was conducted by the GCHQ Accredited Centre
of Excellence In Cyber Security at the University of Surrey. The
addressable market for QuantumCloud™ is every connected device.
Arqit was recently awarded the Innovation in Cyber award at the
National Cyber Awards.
About Dr Halak
Dr Basel Halak is the director of the embedded
systems and IoT program at the University of Southampton, a
visiting scholar at the Technical University of Kaiserslautern, a
visiting professor at the Kazakh-British Technical University, an
industrial fellow of the royal academy of engineering, and a
national teaching fellow of the Advance Higher Education (HE)
Academy. Dr Halak's publications include over 100-refereed
conference and journal papers and authored six books on the
security and reliability of electronics systems, including the
first textbook on Physically Unclonable Functions. His research
expertise includes evaluation of security of hardware devices,
development of appropriate countermeasures, the development of
mathematical formalisms of reliability issues in CMOS circuits
(e.g., crosstalk, radiation, ageing), and the use of fault
tolerance techniques to improve the robustness of electronics
systems against such issues. Dr Halak lectures on digital design,
Secure Hardware, and Cryptography, supervises several MSc and PhD
students. He is also leading European Masters in Embedded Computing
Systems (EMECS), a two-year course run in collaboration with
Kaiserslautern University in Germany and the Norwegian University
of Science and Technology in Trondheim (electronics and
communication). Dr Halak serves on several technical program
committees such as HOST, IEEE DATE, IVSW, ICCCA, ICCCS, MTV and
EWME. He is an associate editor of IEEE access and an editor of the
IET circuit devices and system journal. He is also a member of the
hardware security-working group of the World Wide Web Consortium
(W3C). The study can be found at
https://www.researchgate.net/publication/362185996_Comparative_Analysis_of_Energy_Costs_of_Asymmetric_vs_Symmetric_Encryption-based_Security_Applications
Media relations
enquiries:Arqit: contactus@arqit.ukFTI Consulting:
scarqit@fticonsulting.com
Investor relations
enquiries:Arqit: investorrelations@arqit.ukGateway:
arqit@gatewayir.com
Caution About Forward-Looking
Statements
This communication includes forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. All statements, other than statements of
historical facts, may be forward-looking statements. These
forward-looking statements are based on Arqit’s expectations and
beliefs concerning future events and involve risks and
uncertainties that may cause actual results to differ materially
from current expectations. These factors are difficult to predict
accurately and may be beyond Arqit’s control. Forward-looking
statements in this communication or elsewhere speak only as of the
date made. New uncertainties and risks arise from time to time, and
it is impossible for Arqit to predict these events or how they may
affect it. Except as required by law, Arqit does not have any duty
to, and does not intend to, update or revise the forward-looking
statements in this communication or elsewhere after the date this
communication is issued. In light of these risks and uncertainties,
investors should keep in mind that results, events or developments
discussed in any forward-looking statement made in this
communication may not occur. Uncertainties and risk factors that
could affect Arqit’s future performance and cause results to differ
from the forward-looking statements in this release include, but
are not limited to: (i) the outcome of any legal proceedings that
may be instituted against the Arqit related to the business
combination, (ii) the ability to maintain the listing of Arqit’s
securities on a national securities exchange, (iii) changes in the
competitive and regulated industries in which Arqit operates,
variations in operating performance across competitors and changes
in laws and regulations affecting Arqit’s business, (iv) the
ability to implement business plans, forecasts, and other
expectations, and identify and realise additional opportunities,
(v) the potential inability of Arqit to convert its pipeline into
contracts or orders in backlog into revenue, (vi) the potential
inability of Arqit to successfully deliver its operational
technology which is still in development, (vii) the risk of
interruption or failure of Arqit’s information technology and
communications system, (viii) the enforceability of Arqit’s
intellectual property, and (ix) other risks and uncertainties set
forth in the sections entitled “Risk Factors” and “Cautionary Note
Regarding Forward-Looking Statements” in Arqit’s annual report on
Form 20-F (the “Form 20-F”), filed with the U.S. Securities and
Exchange Commission (the “SEC”) on December 16, 2021 and in
subsequent filings with the SEC. While the list of factors
discussed above and in the Form 20-F and other SEC filings are
considered representative, no such list should be considered to be
a complete statement of all potential risks and
uncertainties.Unlisted factors may present significant additional
obstacles to the realisation of forward- looking statements.
Arqit Quantum (NASDAQ:ARQQ)
Historical Stock Chart
From Aug 2024 to Sep 2024
Arqit Quantum (NASDAQ:ARQQ)
Historical Stock Chart
From Sep 2023 to Sep 2024