×

Harris & Harris Group Portfolio Company D-Wave Systems Announces 1,000 Qubit Processor and is Discussed in the Economist

NEW YORK, June 23, 2015 (GLOBE NEWSWIRE) -- Harris & Harris Group, Inc. (Nasdaq:TINY), an investor in transformative companies enabled by disruptive science, notes that its portfolio company, D-Wave Systems, Inc., announced that it has successfully fabricated 1,000 qubit processors that power its quantum computers. D-Wave’s quantum computer runs a quantum annealing algorithm to find the lowest points, corresponding to optimal or near optimal solutions, in a virtual “energy landscape.” Every additional qubit doubles the search space of the processor. At 1,000 qubits, the new processor considers 21000 possibilities simultaneously, a search space which is substantially larger than the 2512 possibilities available to the company’s currently available 512 qubit D-Wave Two. ‪In fact, the new search space contains far more possibilities than there are ‪particles in the observable universe. D-Wave Systems’ press release can be viewed at http://www.dwavesys.com/press-releases/d-wave-systems-breaks-1000-qubit-quantum-computing-barrier.

“This announcement is an exciting step toward expanding the potential opportunities for quantum computing to solve some of today’s hardest and most significant problems,” said Alexei A. Andreev, Executive Vice President and Managing Director of Harris & Harris Group and a member of the board of directors of D-Wave Systems. “Having witnessed the growth of number of qubits from 2 to 1,000 on a single processor, we continue to be impressed with the accomplishments of the D-Wave team. We are excited about the future ahead for this and future generations of D-Wave’s quantum computing technology to make a substantial impact across multiple rapidly evolving industries including machine learning, big data, financial modeling and bioinformatics.”

Harris & Harris Group also notes that D-Wave Systems was discussed in an article in The Economist titled, “A Little Bit, Better” published on June 20, 2015. The article can be viewed online at http://www.economist.com/news/science-and-technology/21654566-after-decades-languishing-laboratory-quantum-computers-are-attracting?fsrc=scn/tw/te/pe/ed/alittlebitbetter.

Harris & Harris Group is a publicly traded venture capital firm that is also a business development company. Detailed information about Harris & Harris Group and its holdings can be found on its website at www.HHVC.com, on Facebook at www.facebook.com/harrisharrisvc and by following on Twitter @harrisandharrisgroup.

This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2014, as well as subsequent filings, filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business, including, but not limited to, the risks and uncertainties associated with venture capital investing and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The references to the websites www.HHVC.com, www.dwavesys.com, www.economist.com and www.Facebook.com have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Harris & Harris Group is not responsible for the contents of third party websites.

CONTACT: DOUGLAS W. JAMISON TEL. NO. (212) 582-0900

Source:Harris & Harris Group