First-ever Quantum Memory Unit Installed in a Live Fiber Optic Network

IonQ, Inc. (NYSE:IONQ), the world’s leading quantum platform company, and EPB, Chattanooga’s energy and communications solutions company, today announced plans for the Tennessee Quantum Communications Research Center. This will be the first dedicated next generation quantum communication research and development (R&D) innovation lab directly connected to a real-world network.

"Interconnecting quantum computers at multiple locations and linking them directly to end users lays the foundation for the full suite of applications of quantum communications," said IonQ Chairman and CEO Niccolo de Masi. "Quantum Memories that store and process quantum information over fiber channels are essential building blocks for transforming quantum machines into more powerful long-range architectures. Establishing a Quantum Memory R&D capability that sits atop a working fiber optic network will speed the development and deployment of innovative quantum technologies to accelerate commercialization of the Quantum Internet, driving economic growth and job creation within participating communities."

Based in Chattanooga and staffed by IonQ scientists, the R&D lab will house the world’s first commercial Quantum Memory embedded within an operational communications network. Quantum Memory could help quantum computers and networks reliably share information across long distances, an important step toward connecting quantum systems in ways that support real-world commercial applications.

The initiative will be funded through a five-year $15 million commitment from IonQ, bringing some of the world’s foremost experts in Quantum Memories to Chattanooga to catalyze the local talent ecosystem. EPB will provide the live network development test bed and serve as the primary commercialization partner, translating the laboratory’s groundbreaking R&D into use-cases for both the public and private sector in the greater Tennessee Valley corridor. The Tennessee Quantum Communications Research Center’s work will pave the way for EPB’s plans to interlink quantum computers, quantum research nodes and related commercial facilities, expanding the state’s already deep commitment to hosting a unique and expansive quantum ecosystem.

"This agreement reflects a shared commitment to turning quantum innovation into real-world economic and commercial value," said IonQ’s Chief Operating Officer and Chief Financial Officer, Inder Singh. "EPB has been an exceptional partner throughout this process, and we are proud to invest in a center that will advance quantum communications while creating new opportunities for Chattanooga and the broader Tennessee region."

"The future of economic development belongs to states that can connect research, industry and infrastructure, and Tennessee is building that future today," said Deputy Gov. and TNECD Commissioner Stuart C. McWhorter. "The partnership between IonQ and EPB to establish the Tennessee Quantum Communications Research Center is exactly the type of innovation ecosystem we're working to cultivate—bringing together world-class companies, advanced infrastructure and strategic collaboration to accelerate the commercialization of next-generation technologies. As Tennessee continues making strategic investments in quantum infrastructure and research, partnerships like this are strengthening Chattanooga and reinforcing our state's position at the forefront of the quantum economy."

"EPB has a long track record of putting advanced technology to work for the benefit of the people we serve—from launching the nation’s first community-wide Gigabit fiber optic network to helping accelerate the commercialization of quantum computing and communications," said EPB President and CEO-elect Janet Rehberg. "Across Tennessee, leading universities, national laboratories and private companies are advancing quantum research and development. By partnering with IonQ, we will connect those efforts through real-world Quantum Networking capabilities and bring some of the world’s most advanced Quantum Memory expertise to Chattanooga."

The Tennessee Quantum Communications Research Center builds on the strategic collaboration EPB and IonQ established through their shared work to advance commercial quantum computing at the EPB Quantum Center. This expanded partnership further strengthens Chattanooga’s role as a catalyst for Tennessee’s emergence as a national hub for quantum innovation. The partners project that the Center itself will have a positive impact on the wider Tennessee economy totaling up to two to three times their $15 million investment, and supporting roughly two dozen jobs including research scientists, trainees and indirect and induced employment.

"IonQ’s $15 million investment in Chattanooga is a historic turning point, establishing the first Quantum Communications R&D center in the United States right here in our city," said Chattanooga Mayor Tim Kelly. "This commitment from IonQ, EPB, and our partners to launch the Tennessee Quantum Communications Research Center marks a significant milestone in our tradition of innovation. By leading the nation into the quantum era, Chattanooga is not just entering the knowledge economy—we are defining its future and ensuring revolutionary economic growth for generations to come."

The EPB Quantum Center is home to EPB Quantum Network®, which IonQ supports, as well as an IonQ Forte Enterprise quantum computer that is being prepared for commercial deployment.

"IonQ's continued investment is another vote of confidence in Hamilton County and the partnerships that have positioned our community as a leader in quantum technology," said Hamilton County Mayor Weston Wamp. "EPB has helped lay the foundation for this moment, and together with our education and industry partners, we're preparing our students and workforce to seize the opportunities this evolving industry will create, while making sure the people of Hamilton County grow with it."

As the only U.S. quantum facility to offer commercially available quantum networking and computing, EPB Quantum offers the most comprehensive, commercially available quantum technology platform in the U.S.

Based on research by University of Tennessee at Chattanooga’s Center for Economic Research Fellow Dr. Bento Lobo, EPB’s quantum assets are projected to generate up to $1.1 billion in community benefit in Chattanooga over the next 10 years.

Today’s news marks the latest step in IonQ’s continued presence in Tennessee and builds on its longstanding partnerships with local companies and academic institutions, including the University of Tennessee at Chattanooga. IonQ and Ansys achieved a major quantum computing milestone with quantum computing outperforming classical computing when designing important life-saving medical devices. The quantum optimization method on which this achievement was based was pioneered at the Tennessee-based Oak Ridge National Laboratory (ORNL) and successfully implemented on IonQ quantum computers.

About IonQ

IonQ, Inc. (NYSE:IONQ) is the world’s leading quantum platform and foundry - delivering integrated quantum solutions across computing, networking, sensing, and security. IonQ’s newest generation of quantum computers, the IonQ Tempo, is the latest in a line of cutting-edge systems. Earlier systems have helped customers and partners including Amazon Web Services, AstraZeneca, and NVIDIA achieve a 20x performance increase over previous quantum solutions and accelerate innovation in drug discovery, materials science, financial modeling, logistics, cybersecurity, and defense. In 2025, the company achieved 99.99% two-qubit gate fidelity, setting a world record in quantum computing performance.

Headquartered in College Park, Maryland, IonQ has operations in California, Colorado, Massachusetts, Tennessee, Washington, Italy, South Korea, Sweden, Switzerland, Canada, and the United Kingdom. Our quantum computing services are available through all major cloud providers, while we also meet the needs of networking and sensing customers across land, sea, air, and space. IonQ is making quantum platforms more accessible and impactful than ever before. Learn more at IonQ.com.

About EPB

Located in Chattanooga, Tennessee, EPB is a nationally recognized energy and communications provider with a mission to enhance quality of life for the people it serves across its 600-square-mile service area. Starting in 2010, EPB gained notice as a national model for building and utilizing its 100% fiber-to-the-home network to deliver cutting-edge services such as the world’s fastest community-wide internet, now with service up to 25 Gig, and the nation’s most advanced automated electric grid.

As a pioneer in fiber optic innovation, EPB also launched EPB Quantum℠ to provide access to cutting-edge quantum technology platforms and help innovators bring paradigm-shifting solutions into the real world. With the launch of EPB Quantum Network® in 2023 and EPB Quantum Computing℠ (coming in 2026), EPB Quantum offers the most comprehensive, commercially available quantum technology platform in the U.S. Learn more at epb.com and EPBQuantum.com.

IonQ Forward-Looking Statements

This press release contains forward-looking statements. All statements contained in this press release other than statements of historical fact are forward-looking statements, including statements regarding the establishment, staffing, funding, and operation of the Tennessee Quantum Communications Research Center; the expected timing and scope of its research and development activities; the development, deployment, and commercialization of Quantum Memory technologies and quantum networking capabilities; the anticipated benefits of the collaboration between IonQ and EPB; the projected economic impact of the Center on the Chattanooga area and the broader Tennessee economy, including projected job creation and community benefit figures; EPB's plans to interlink quantum computers, quantum research nodes and related commercial facilities; the preparation and commercial deployment of the IonQ Forte Enterprise quantum computer; the anticipated growth of Tennessee's quantum ecosystem; and the future advancement and commercialization of quantum computing, networking, and the Quantum Internet. These statements are only predictions based on our expectations and projections about future events as of the date of this press release and are subject to a number of risks, uncertainties and assumptions that may prove incorrect, any of which could cause actual results to differ materially from those expressed or implied by such statements, including, among others, those described under the heading "Risk Factors" in our most recent filings with the Securities and Exchange Commission.

New risks emerge from time to time, and it is not possible for our management to predict all risks, nor can management assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement we make. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made.

Except as otherwise required by law, we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

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