IonQ and Hyundai Motor to partner with Quantum Computing to improve the effectiveness of next-gen batteries





Collaboration will create largest battery chemistry model yet to be run on a quantum computer, simulating lithium oxide structure and energy

Project lays foundation to improve lithium battery performance, cost and safety

COLLEGE PARK, Md. & SEOUL, South Korea, January 19, 2022–(BUSINESS WIRE)–IonQ (NYSE: IONQ), a leader in confined ion quantum computing, and Hyundai Motor Company today announced a collaboration to develop new Variational Quantum Eigensolver (VQE) algorithms to analyze lithium compounds and their chemical reactions. studying involved in battery chemistry.

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Quantum-powered chemistry simulation is expected to significantly improve the quality of next-generation lithium batteries by making improvements in the charge and discharge cycles of the devices, as well as their durability, capacity and safety.

The partnership combines IonQ’s expertise in quantum computing and Hyundai’s expertise in lithium batteries. Together, the teams create the most advanced battery chemistry model developed on quantum computers to date, measured by the number of qubits and quantum gates.

IonQ and Hyundai are laying the groundwork for making better quality batteries by simulating and controlling their chemical reactions more accurately. This research has the potential to lead to new types of resource material that will save time, cost and effort in the coming years – a crucial advance as batteries are typically the most expensive part of an electric vehicle (EV).

“This creative partnership with IonQ is expected to provide innovation in the development of basic materials in virtual space for different parts of future mobility,” said TaeWon Lim, Executive Vice President and Head of Materials Research & Engineering Center at Hyundai Motor Group. “We are excited to step into the coming quantum age and take advantage of the opportunities ahead with more effective battery power.”

The current partnership is a critical part of Hyundai’s Strategy 2025 goals, which include selling 560,000 EVs per year and introducing more than 12 battery electric vehicles (BEV) to consumers. In addition, the partnership is also an important milestone in combating the threat of climate change, as electric vehicles play a vital role in achieving global sustainability goals.

“We at IonQ believe in our mission to solve the world’s most complex problems through the continued development of our quantum computers, and we see global climate change as one such problem that we can help address with quantum chemical solutions,” said Peter Chapman, President and CEO of IonQ. “Battery efficiency is one of the most promising emerging areas where quantum computing can make a difference. We are excited to partner with Hyundai Motor Company on this project to make EVs a primary mode of transportation around the world.”

This collaboration is the latest in IonQ’s ongoing quantum chemistry efforts. Previously, IonQ’s computers were used to demonstrate an end-to-end pipeline for simulating large molecules, such as those present in fertilizer making. IonQ’s quantum computers have also been used to simulate water molecules, one of the first demonstrations of the potential for quantum computing to address quantum chemical applications.

About IonQ

IonQ, Inc. is a leader in quantum computing, with a proven track record of innovation and implementation. IonQ’s next-generation quantum computer is the world’s most powerful ion-trapped quantum computer, and IonQ has defined what it believes is the best way forward to scale.

IonQ is the only company with its quantum systems available through the cloud on Amazon Braket, Microsoft Azure and Google Cloud, as well as direct API access. IonQ was founded in 2015 by Christopher Monroe and Jungsang Kim based on 25 years of groundbreaking research. For more information, visit www.ionq.com.

About Hyundai Motor Company

Founded in 1967, Hyundai Motor Company provides a range of world-class vehicles and mobility services in more than 200 countries. Hyundai Motor sold more than 4.4 million vehicles worldwide in 2019 and currently employs some 120,000 people worldwide.

The company is expanding its product range to include vehicles designed to usher in a more sustainable future while providing innovative solutions to real-world mobility challenges. Through this process, Hyundai aims to facilitate ‘Progress for Humanity’ with smart mobility solutions that vitalize the connections between people and offer quality time to its customers.

More information about Hyundai Motor and its products can be found at:
http://worldwide.hyundai.com or http://globalpr.hyundai.com

IonQ Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Some of the forward-looking statements can be identified through the use of forward-looking words. Statements that are not historical in nature, including the words “anticipate,” “expect,” “suggest,” “plan,” “believe,” “intend,” “estimate,” “goals,” “projects,” ” should, ” “could”, “should”, “may”, “will”, “foresee” and other similar expressions are intended to identify forward-looking statements. These statements include those related to the anticipated benefits of the partnership, including the anticipated ability of Quantum-powered chemistry simulation to significantly improve the quality of next-generation lithium batteries and the potential of IonQ and Hyundai’s research to lead to new types of source material. that time, cost and effort in the coming years; IonQ’s ability to further develop and advance its quantum computers and achieve scale; IonQ’s market opportunities and expected growth; and the commercial benefits to customers of using quantum computing solutions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements contained in this press release, including but not limited to: market acceptance of quantum computing solutions and IonQ’s products, services and solutions; IonQ’s ability to protect its intellectual property; changes in the competitive industries in which IonQ operates; changes in laws and regulations that affect the activities of IonQ; IonQ’s ability to implement its business plans, forecasts and other expectations and identify and realize additional partnerships and opportunities; and the risk of downturn in the market and technology industry, including, but not limited to, due to the COVID-19 pandemic. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of IonQ’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 and other documents issued from time to time by IonQ have been submitted to the Security and Exchange Commission. These filings identify and address other significant risks and uncertainties that could cause actual events and results to differ materially from those in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to place undue reliance on forward-looking statements, and IonQ assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. IonQ does not give any guarantee that it will live up to its expectations.

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Contacts

IonQ Media contact:
Mission North
ionq@missionnorth.com

IonQ Investor Contact:
Michael Bowen and Ryan Gardella
IonQIR@icrinc.com

Hyundai Motor Company Media Contact:
Dain Kang |
di@hyundai.com




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