SYNIAD MAKES A NEW FUNDING COMMITMENT TO QUANTUM TECHNOLOGIES

VANCOUVER, BC, March 17, 2022 – Syniad Innovations Inc (“Syniad”) today announced a direct funding commitment to quantum computing research at the University of British Columbia (“UBC”). This is a pre-incorporation funding commitment to validate new approaches to qubit control – something that most quantum hardware platforms will require in the future as quantum hardware grows in scale and complexity.

The UBC team will be led by Professor Lukas Chrostowski, an electrical engineer and scientific director of UBC’s Quantum Computing Research Cluster.

Iain Evans, Syniad’s Chief Investment Officer, commented, “We are at the start of the quantum revolution. The quantum technology stack isn’t fully defined yet, but fundamental theoretical research will generate new hardware architectures and algorithmic developments supported by specialist control electronics. In today’s market, new hardware breakthroughs capture a huge amount of attention. But in the near term, we expect to see a renewed focus on the bottlenecks of quantum control. So we are pleased to support the Chrostowski team with a pre-seed investment, which will be leveraged (3X) through a matching MITACS grant”.