Arqit Logo

Arqit Limited (“Arqit”), a leader in quantum encryption technology and Centricus Acquisition Corp. (Nasdaq: CENH, CENHW, CENHU) (“Centricus”), a special purpose acquisition company, today announced that they will host an Investor and Analyst Day on Wednesday, August 18, 2021 from 1:00 p.m. to 3:00 p.m. Eastern Time.

Presenters will include Centricus CEO Garth Ritchie and Arqit CEO David Williams. Following the presentation, attendees will have the opportunity to participate in a question-and-answer session.

All are invited to listen to the live event by registering here.

A replay of the Investor and Analyst Day webcast will be available on the websites of both Centricus and Arqit by clicking here or here.

Arqit will also offer a business update, following the confirmation last week that the Registration Statement on Form F-4 in connection with the previously announced business combination (the “Business Combination”) with Centricus has been declared effective by the Securities and Exchange Commission (the “SEC”).

Following the announcement of the Business Combination on May 12, 2021, on August 2, 2021 we announced that the shareholder vote for Centricus shareholders will take place on August 31.

Over the past three months since the announcement of the Business Combination, Arqit has also made great strides in developing the business.

Arqit previously notified investors of its intention to launch QuantumCloudTM release 1.0 by December, 2021. After successful customer testing, it was able to do this in July, 2021, considerably ahead of schedule. QuantumCloudTM is now being shipped to a further twenty enterprise and government customers for integration and testing. Arqit is confident that billing for commercial service with begin before the end of December, 2021. QuantumCloudTM enables any end-point or cloud machine to create symmetric encryption keys which cannot be broken, are created in the moment they are needed for one time use then discarded and can never be known by a third party. Arqit believes there is no other product available which can combine these elements.

The system relies on “root source keys”, which are currently delivered to data centers (as an ingredient in the end point key creation process) using ground-based equipment. In 2023 Arqit is targeting to launch quantum satellites using its ground-breaking patented Quantum Protocol ARQ19, which means that the creation of the root source keys will be fully quantum safe – an upgrade which will protect the entire end to end network against any future quantum attack.

Arqit believes its technology is globally unique, and during the past three months, Arqit has increased the number of patent claims filed by 30% to 1,435 patent claims on 21 pending or allowed patents. To Arqit’s knowledge, it is several years ahead of any competitor in the development of equivalent technology. Potential rivals have announced small research projects to attempt to devise technology which might compete with Arqit, however Arqit believes that its pending and allowed patents will provide it with strong protection while it scales its commercial operations.

Although Arqit has had only limited sales and marketing capacity in advance of access to additional funding in connection with the completion of the Business Combination, it has been successful in generating strong customer traction. In May 2021, Arqit announced that distribution partners British Telecom and Sumitomo signed significant multiyear revenue contracts to take its products to market in the UK and Japan. In June, Arqit announced at the G7 conference that service provider customers like Northrop Grumman, Honeywell and Leonardo, and agencies representing six governments, have joined Arqit’s Federated Quantum System project to assess and build the government “private instance” version of the technology. Arqit expects that long-term contracts from these governments will follow in the next phase providing strong underpinning to its business.

In July 2021, Arqit published research that showing that blockchain software is fundamentally compromised by quantum attack and that new versions of public key algorithms will not enable blockchain to work securely and efficiently. Arqit believes that blockchain technology has high potential in applications involving accounting, payments and supply chains, but not unless the cryptographic problem is solved. Arqit’s research describes the very definitive solution that it has created for this problem. The first contract to use this technology is a self-sovereign identity (SSI) system, which Arqit announced that it is building for global law firm Dentons. Identity is of fundamental importance not only to human interactions but also to machine-to-machine communications and is the underpinning of a successful mass market implantation of any blockchain system. Arqit is now working with a number of organisations to create new forms of payment systems and a new form of decentralised blockchain system which is not only permanently quantum safe but is also highly energy efficient.

Founder Chairman and CEO for Arqit, David Williams said: “Our pipeline of potential business has continued to grow strongly, and it is confident in its ability to sign and announce new blue-chip companies to the QuantumCloudTM network in the near future. With the additional funding from the completion of the Business Combination, along with the transparency and investor relations benefits of the related NASDAQ listing, Arqit is excited to increase the scale and reach of its commercial operations and is looking forward to updating investors and analysts at the forthcoming presentation day”.