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

by Mike Robinson

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Sam Boughedda

Investing.com — Arqit Quantum’s (NASDAQ:) (NASDAQ : ARQQ), announced Wednesday that they have extended their collaboration with Virgin Orbit. Shares rose 19.4% to $26.39.

Virgin Orbit— which is to go public via a SPAC merger with NextGen Acquisition II Corp (NASDAQ:) — 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. They are working together to develop responsive space programs for Five Eyes countries (Australia, Canada, New Zealand and the United States).

Arqit stated that it will launch other customer-funded systems only with Virgin Orbit. The contract permits up to five launches, which can be made into government contracts. 

Additionally, Virgin Orbit also revealed the QuantumCloud Software License that allows it to use Arqit’s Platform to offer encryption for Virgin Orbit’s worldwide infrastructure. Virgin Orbit declared it is now “the first global provider of quantum safe launch services.”

David Williams, the founder of Arqit said that QuantumCloudTM is a great choice by another well-known global brand to protect their customer’s assets. Virgin Orbit’s rapid launch capabilities are a great benefit for private instance contracts, which we offer to customers in the defense and government sectors.

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