IonQ Awarded DARPA Manufacturing Contract for Evergreen-05 Atomic Clocks

MT Newswires Live08-07 16:43

IonQ (IONQ) received a $28 million contract extension from the Defense Advanced Research Projects Agency, or DARPA, with an unexercised $30 million option, to expand production of its Evergreen-05 optical atomic clocks for US government customers, the company said late Thursday.

The contract modification covers manufacturing development and delivery of 25 Evergreen-05 optical atomic clocks, with an unexercised $30 million option for 100 additional units, bringing the total potential contract value to $58 million for 125 clocks, the company said.

IonQ said it will invest $15 million in production space, manufacturing equipment, testing capabilities and staffing to support the program.

Shares of the company rose more than 1% in recent premarket activity Friday.

Price: 40.23, Change: +0.51, Percent Change: +1.28

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