Satellite Applications Catapult trials Arqit Network Secure™

LONDON, April 24, 2024 (GLOBE NEWSWIRE) -- Arqit Quantum Inc. (Nasdaq: ARQQ, ARQQW) (Arqit), a leader in quantum-safe encryption, today announced the successful trial deployment of Arqit’s Network Secure product by the Satellite Applications Catapult which works across the space sector to make use of and benefit from satellite technologies.

The satellite sector is strategically important with long lived sensitive data and so is a prime target for intellectual property theft. Satellite sector organisations must ensure they are safe from both current and future cyber threats including from quantum computing. Nation states and cyber adversaries are known to be deploying “store-now, decrypt-later” attacks, stockpiling encrypted data to decrypt it with the advent of quantum computing. There is an urgent need to harden encryption for network infrastructure today both for users transmitting data over satellite infrastructure as well as for the multitude of organisations in the supply chain that develop and operate it.

David Williams, Arqit Founder, Chairman and CEO said:

“In an era where well-motivated state actors relentlessly target critical sectors such as the satellite industry, the imperative for robust cybersecurity measures has never been more urgent. Arqit’s ground-breaking symmetric encryption technology hardens networks and is simple to deploy making data harvesting attacks impossible. We were delighted to trial Network Secure with Satellite Applications Catapult and demonstrate how it could safeguard sensitive IP and research data from current and future cyber threats.”

Paul Febvre, CTO of the Satellite Applications Catapult said:

“Being prepared for a quantum future is an essential concern of CTOs and CIOs across the globe, and taking incremental steps by exploring new technologies as they become available improves awareness, skills and resilience against future shocks.

“At the Satellite Applications Catapult, we are keen to lead by example through building a better understanding of the operational challenges associated with deployment and exploitation of technologies and systems.

“We are pleased to have been able to work with Arqit, and to test the performance of their Symmetric Key Agreement Platform over existing hardware in our network infrastructure. We anticipate that we will be deploying such technologies into our operational systems to provide greater protection to our communities in the future.”

About Arqit

Arqit Quantum Inc. (Nasdaq: ARQQ, ARQQW) (Arqit) supplies a unique encryption software service which makes the communications links of any networked device, cloud machine or data at rest secure against both current and future forms of attack on encryption – even from a quantum computer. Compatible with NSA CSfC Components and meeting the demands of NSA CSfC Symmetric Key Management Requirements Annexe 1.2. and RFC 8784, Arqit’s Symmetric Key Agreement Platform uses a lightweight software agent that allows end point devices to create encryption keys locally in partnership with any number of other devices. The keys are computationally secure and facilitate Zero Trust Network Access. It can create limitless volumes of keys with any group size and refresh rate and can regulate the secure entrance and exit of a device in a group. The agent is lightweight and will thus run on the smallest of end point devices. The product sits within a growing portfolio of granted patents. It also works in a standards compliant manner which does not oblige customers to make a disruptive rip and replace of their technology. Arqit is winner of two GSMA Global Mobile Awards, The Best Mobile Security Solution and The CTO Choice Award for Outstanding Mobile Technology, at Mobile World Congress 2024, recognised for groundbreaking innovation at the 2023 Institution of Engineering and Technology Awards and winner of the National Cyber Awards’ Innovation in Cyber Award and the Cyber Security Awards’ Cyber Security Software Company of the Year Award. Arqit is ISO 27001 Standard certified.

About Satellite Applications Catapult

The Satellite Applications Catapult is an independent innovation and technology company, created by Innovate UK to drive economic growth through the exploitation of space. We work with businesses of all sizes to realise their potential from space infrastructure and its applications. Based in Harwell, Oxfordshire, the Catapult was established in May 2013 as one of a network of centres to accelerate the take-up of emerging technologies and drive economic impact for the UK. We are a not-for-profit research organisation which is registered as a private company limited by guarantee and controlled by its Board.

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This communication includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. These forward-looking statements are based on Arqit’s expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond Arqit’s control. Forward-looking statements in this communication or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for Arqit to predict these events or how they may affect it. Except as required by law, Arqit does not have any duty to, and does not intend to, update or revise the forward-looking statements in this communication or elsewhere after the date this communication is issued. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur. Uncertainties and risk factors that could affect Arqit’s future performance and cause results to differ from the forward-looking statements in this release include, but are not limited to: (i) the outcome of any legal proceedings that may be instituted against the Arqit, (ii) the ability to maintain the listing of Arqit’s securities on a national securities exchange, (iii) changes in the competitive and regulated industries in which Arqit operates, variations in operating performance across competitors and changes in laws and regulations affecting Arqit’s business, (iv) the ability to implement business plans, forecasts, and other expectations, and identify and realise additional opportunities, (v) the potential inability of Arqit to successfully deliver its operational technology, (vi) the risk of interruption or failure of Arqit’s information technology and communications system, (vii) the enforceability of Arqit’s intellectual property, and (viii) other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Arqit’s annual report on Form 20-F (the “Form 20-F”), filed with the U.S. Securities and Exchange Commission (the “SEC”) on 21 November 2023 and in subsequent filings with the SEC. While the list of factors discussed above and in the Form 20-F and other SEC filings are considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realisation of forward-looking statements.