September 29, 2016 9:20 AM ET

Technology Hardware, Storage and Peripherals

Company Overview of D-Wave Systems Inc.

Company Overview

D-Wave Systems Inc. develops, fabricates, and integrates superconducting quantum computers. The company offers The D-Wave Two System, a commercial quantum computer. Its quantum computers are used in various applications, including mission planning/scheduling and logistics, software/hardware validation and verification, pattern recognition and anomaly detection, network science and graph theory applications, image and pattern recognition, machine learning, communication, advanced search, optimization problems, graph theory problems, material science, climate modeling, bioinformatics, weather predictions, exploring quantum computing, risk modeling, trading strategies, financial analysis and fo...

3033 Beta Avenue

Burnaby, BC V5G 4M9

Canada

Founded in 1999

Phone:

604-630-1428

Fax:

604-630-1434

Key Executives for D-Wave Systems Inc.

Chief Executive Officer, President and Director
Age: 57
Co-Founder and Chief Technology Officer
Co-Founder and Chief Scientist
Co-Founder and Director
Chief Financial Officer
Age: 63
Compensation as of Fiscal Year 2016.

D-Wave Systems Inc. Key Developments

D-Wave Systems Inc. Previews 2000-Qubit Quantum System

D-Wave Systems Inc. announced details of its most advanced quantum computing system, featuring a new 2000-qubit processor. The announcement is being made at the company's inaugural users group conference in Santa Fe, New Mexico. The new processor doubles the number of qubits over the previous generation D-Wave 2X™ system, enabling larger problems to be solved and extending D-Wave's significant lead over all quantum computing competitors. The new system also introduces control features that allow users to tune the quantum computational process to solve problems faster and find more diverse solutions when they exist. In early tests these new features have yielded performance improvements of up to 1000 times over the D-Wave 2X system. D-Wave's quantum system runs a quantum annealing algorithm to find the lowest points in a virtual energy landscape representing a computational problem to be solved. The lowest points in the landscape correspond to optimal or near-optimal solutions to the problem. The increase in qubit count enables larger and more difficult problems to be solved. The new control features enable the system to find the lowest points more efficiently, and include: The ability to tune the rate of annealing of individual qubits to enhance application performance; The ability to sample the state of the quantum computer during the quantum annealing process to power hybrid quantum-classical machine learning algorithms that were not possible before; The ability to combine quantum processing with classical processing to improve the quality of both optimization and sampling results returned from the system.

D-Wave Systems Inc. Appoints Dan Cohrs as Chief Financial Officer

D-Wave Systems Inc. announced that Dan Cohrs has joined the team as chief financial officer. Prior to joining D-Wave, Mr. Cohrs was executive vice president and chief financial officer of Rentech Inc. and Rentech Nitrogen Partners. Mr. Cohrs served for five years as executive vice president and chief financial officer of Global Crossing (since acquired by Level 3 Communications).

D-Wave Systems Announces Multi-Year Agreement with Lockheed Martin

Harris & Harris Group Inc., noted that its portfolio company, D-Wave Systems Inc. announced that it has entered into a multi-year agreement with Lockheed Martin to upgrade the company's 512-qubit D-Wave Two™ quantum computer to the new D-Wave 2X™ system with 1,000+ qubits. This represents the second system upgrade since Lockheed Martin became D-Wave's first customer in 2011 with the purchase of a 128-qubit D-Wave One™ system. The agreement includes the system, maintenance and associated professional services. The new system will be hosted at the University of Southern California-Lockheed Martin Quantum Computation Center, which first began exploring the power of quantum computing with the D-Wave One, the world's first quantum computer. The installation of the D-Wave 2X system is expected to be completed in January 2016.

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