{"success":true,"data":{"pressRelease":{"id":"131106","rtpr_id":"nGNX4v9cgb","ticker":"PSQL","exchange":"NASDAQ","all_tickers":["PSQL","PSQLW"],"title":"Pasqal and KACST Launch Strategic Quantum Research Collaboration as Pasqal Expands Presence in Saudi Arabia","author":"Globe Newswire","published_at":"2026-08-31T12:00:01.642Z","article_body":"RIYADH, Saudi Arabia, Aug. 31, 2026 (GLOBE NEWSWIRE) -- King Abdulaziz City\nfor Science and Technology (KACST), represented by the National Center for\nQuantum Technologies (NCQT), has signed a research collaboration agreement\nwith Pasqal (Nasdaq: PSQL), a global leader in neutral-atom quantum computing,\nto advance research and development across multiple domains of advanced\nquantum technology and enhance quantum cryptography readiness in Saudi Arabia.\nThe agreement was announced during a ceremony held at King Salman Science\nOasis in Riyadh during World Quantum Day.\n\nThe agreement marks the latest milestone in Pasqal's rapidly expanding\npresence in Saudi Arabia as the company deepens partnerships across the\nKingdom's research, government and industrial sectors. The announcement comes\nas Pasqal CEO Dr. Wasiq Bokhari prepares to deliver a keynote address in\nRiyadh at LEAP 2026, one of the world's leading technology events,\nhighlighting the company's growing role in supporting Saudi Arabia's ambitions\nto become a global hub for advanced technologies.\n\nUnder the agreement, Pasqal's neutral-atom quantum processing technology and\ncloud services will be paired with KACST's national research infrastructure to\ndevelop and validate quantum-safe cryptographic solutions. The work will be\ncarried out at KACST's National Center for Quantum Technologies, with quantum\ncryptography serving as the first focus area of a broader multi-year research\nprogram.\n\nAs quantum computing capabilities continue to advance globally, organizations\nacross government, financial services and critical infrastructure face\nincreasing pressure to prepare for a post-quantum future. Through the\ncollaboration, KACST and Pasqal expect to develop, test and package\nquantum-safe cryptographic solutions, with the shared objective of ultimately\nbringing commercial offerings to the Saudi market.\n\nDr. Talal Al-Sedairy, Senior Vice President for R&D at KACST, said:\n\n\"This agreement reflects KACST's commitment to building strategic research\npartnerships with global technology leaders, supporting the development of\nnational capabilities, and translating scientific research in quantum\ntechnologies into impactful future applications.\"\n\nProf. Manahel Thabet, Director of the National Center for Quantum\nTechnologies, said:\n\n\"This partnership represents an important step toward building an advanced\nnational quantum ecosystem. It enables our researchers to conduct joint\nresearch across diverse quantum domains, leveraging world-class infrastructure\nand international expertise to elevate the Kingdom's research capacity and\nglobal standing in this strategic field.\"\n\nThe collaboration builds on a period of significant momentum for Pasqal in\nSaudi Arabia. In May, together with Aramco, Pasqal inaugurated Saudi Arabia's\nfirst quantum computer at Aramco's data center in Dhahran, alongside the\nMiddle East's first commercial Quantum Computing-as-a-Service platform. More\nrecently, Pasqal and Eleven Ventures announced plans to establish a joint\nventure focused on deploying, commercializing and scaling quantum computing\nsystems across Saudi Arabia and the wider MENA region.\n\nThe company's growing engagement in the Kingdom has also included a recent\nvisit by a senior Saudi ministerial delegation, led by His Excellency Abdullah\nAlswaha, Minister of Communications and Information Technology, to Pasqal's\nheadquarters and quantum computer production facility in France. Together,\nthese developments underscore Pasqal's expanding contribution to Saudi\nArabia's quantum ecosystem, spanning research, infrastructure, industrial\napplications and workforce development.\n\nDr. Wasiq Bokhari, CEO of Pasqal, said:\n\n\"This initiative builds on Saudi Arabia's growing investment in quantum\ntechnologies and demonstrates Pasqal's continued deep engagement and\ncommitment to the Kingdom regarding the development and utilization of quantum\ntechnologies.\"\n\n\"Saudi Arabia is demonstrating a remarkable ambition to build the technologies\nand capabilities that will shape the next generation of computing. For Pasqal,\nour work in the Kingdom goes well beyond deploying quantum hardware. We want\nto build long-term partnerships, develop practical applications and contribute\nto an ecosystem capable of turning quantum computing into real industrial and\neconomic value.\"\n\nAs part of that ongoing commitment, Dr. Bokhari will deliver a keynote address\ntoday at LEAP 2026, where he will discuss the transition of quantum computing\nfrom scientific research toward industrial-scale applications and the growing\nrole quantum technologies can play in supporting economic growth and\ninnovation.\n\nThe KACST collaboration forms part of broader efforts to strengthen Saudi\nArabia's research, development and innovation ecosystem in quantum\ntechnologies, expand international scientific collaborations and support the\nKingdom's Vision 2030 objectives.\n\nContacts\n\nInvestors\ninvestors@pasqal.com\n\nMedia\npr@pasqal.com\n\nAbout Pasqal\n\nPasqal (Nasdaq: PSQL) helps organizations tackle problems that are difficult\nor impossible to solve with conventional computing methods alone. Founded in\n2019 on Nobel Prize–winning research, Pasqal builds and operates\nneutral-atom quantum computers, delivered with a full software stack, for\nindustry, science, and governments. Pasqal’s production-ready systems are\navailable both on-premises and through the cloud, enabling organizations to\nharness quantum computing without requiring in-house quantum expertise. A\nsingle hardware platform supports analog workloads today and is designed to\nevolve toward fault-tolerant quantum computing in the future.\n\nHeadquartered in France with operations globally, Pasqal’s quantum computing\nsystems are used by customers across energy, financial services and advanced\nmaterials to address complex challenges. Pasqal’s customers include Saudi\nAramco, Crédit Agricole CIB, LG Electronics and supported by partnerships\nwith NVIDIA and IBM (Pasqal is part of the IBM Quantum Network).\n\nForward-Looking Statements\n\nCertain statements herein may be considered “forward-looking statements”\nwithin the meaning of Section 27A of the Securities Act of 1933, as amended,\nand Section 21E of the Securities Exchange Act of 1934, as amended.\nForward-looking statements generally are accompanied by words such as\n“believe,” “may,” “might”, “will,” “estimate,”\n“continue,” “anticipate,” “intend,” “expect,” “should,”\n“would,” “could,” “plan,” “predict,” “project”,\n“forecast,” “potential,” “seem,” “seek,” “target,”\n“possible,” “future,” “outlook” or similar terminology or\nexpressions that predict or indicate future events or trends. These\nforward-looking statements include, but are not limited to, statements\nregarding future events, including Pasqal’s ability to accelerate global\ndeployment of its quantum computing platform.\n\nThese statements are based on current expectations and are not predictions of\nactual performance. They are provided for illustrative purposes only and must\nnot be relied on as a guarantee, prediction or definitive statement of fact or\nprobability. Actual events and circumstances are difficult or impossible to\npredict and are beyond the control of Pasqal. These statements are subject to\nknown and unknown risks and uncertainties and assumptions regarding Pasqal’s\nbusiness, and actual results may differ materially. These risks and\nuncertainties include, but are not limited to: general economic, political,\nsocial and business conditions; uncertainty or changes with respect to laws\nand regulations; risks related to Pasqal’s indebtedness; the risk from\nPasqal pursuing an emerging technology, facing significant technical\nchallenges and the potential that it may not achieve commercialization or\nmarket acceptance; Pasqal’s reliance on strategic partners and other third\nparties; Pasqal’s ability to maintain, protect and defend its intellectual\nproperty rights; and other risks that will be detailed from time to time in\nfilings with the U.S. Securities and Exchange Commission (the “SEC”). The\nforegoing list of risk factors is not exhaustive. There may be additional\nrisks that Pasqal does not know or currently believes are immaterial that\ncould also cause actual results to differ from those contained in\nforward-looking statements. In addition, forward-looking statements provide\nPasqal’s expectations, plans and forecasts of future events and views as of\nthe date of this communication. While Pasqal may elect to update these\nforward-looking statements in the future, Pasqal specifically disclaims any\nobligation to do so.\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/6e51e6ce-621e-472d-98f3-f5af95dbc526)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX4v9cgb","title":"Pasqal and KACST Launch Strategic Quantum Research Collaboration as Pasqal Expands Presence in Saudi Arabia","author":"Globe Newswire","ticker":"PSQL","created":"2026-08-31T12:00:01.642Z","tickers":["PSQL","PSQLW"],"exchange":"NASDAQ","article_body":"RIYADH, Saudi Arabia, Aug. 31, 2026 (GLOBE NEWSWIRE) -- King Abdulaziz City\nfor Science and Technology (KACST), represented by the National Center for\nQuantum Technologies (NCQT), has signed a research collaboration agreement\nwith Pasqal (Nasdaq: PSQL), a global leader in neutral-atom quantum computing,\nto advance research and development across multiple domains of advanced\nquantum technology and enhance quantum cryptography readiness in Saudi Arabia.\nThe agreement was announced during a ceremony held at King Salman Science\nOasis in Riyadh during World Quantum Day.\n\nThe agreement marks the latest milestone in Pasqal's rapidly expanding\npresence in Saudi Arabia as the company deepens partnerships across the\nKingdom's research, government and industrial sectors. The announcement comes\nas Pasqal CEO Dr. Wasiq Bokhari prepares to deliver a keynote address in\nRiyadh at LEAP 2026, one of the world's leading technology events,\nhighlighting the company's growing role in supporting Saudi Arabia's ambitions\nto become a global hub for advanced technologies.\n\nUnder the agreement, Pasqal's neutral-atom quantum processing technology and\ncloud services will be paired with KACST's national research infrastructure to\ndevelop and validate quantum-safe cryptographic solutions. The work will be\ncarried out at KACST's National Center for Quantum Technologies, with quantum\ncryptography serving as the first focus area of a broader multi-year research\nprogram.\n\nAs quantum computing capabilities continue to advance globally, organizations\nacross government, financial services and critical infrastructure face\nincreasing pressure to prepare for a post-quantum future. Through the\ncollaboration, KACST and Pasqal expect to develop, test and package\nquantum-safe cryptographic solutions, with the shared objective of ultimately\nbringing commercial offerings to the Saudi market.\n\nDr. Talal Al-Sedairy, Senior Vice President for R&D at KACST, said:\n\n\"This agreement reflects KACST's commitment to building strategic research\npartnerships with global technology leaders, supporting the development of\nnational capabilities, and translating scientific research in quantum\ntechnologies into impactful future applications.\"\n\nProf. Manahel Thabet, Director of the National Center for Quantum\nTechnologies, said:\n\n\"This partnership represents an important step toward building an advanced\nnational quantum ecosystem. It enables our researchers to conduct joint\nresearch across diverse quantum domains, leveraging world-class infrastructure\nand international expertise to elevate the Kingdom's research capacity and\nglobal standing in this strategic field.\"\n\nThe collaboration builds on a period of significant momentum for Pasqal in\nSaudi Arabia. In May, together with Aramco, Pasqal inaugurated Saudi Arabia's\nfirst quantum computer at Aramco's data center in Dhahran, alongside the\nMiddle East's first commercial Quantum Computing-as-a-Service platform. More\nrecently, Pasqal and Eleven Ventures announced plans to establish a joint\nventure focused on deploying, commercializing and scaling quantum computing\nsystems across Saudi Arabia and the wider MENA region.\n\nThe company's growing engagement in the Kingdom has also included a recent\nvisit by a senior Saudi ministerial delegation, led by His Excellency Abdullah\nAlswaha, Minister of Communications and Information Technology, to Pasqal's\nheadquarters and quantum computer production facility in France. Together,\nthese developments underscore Pasqal's expanding contribution to Saudi\nArabia's quantum ecosystem, spanning research, infrastructure, industrial\napplications and workforce development.\n\nDr. Wasiq Bokhari, CEO of Pasqal, said:\n\n\"This initiative builds on Saudi Arabia's growing investment in quantum\ntechnologies and demonstrates Pasqal's continued deep engagement and\ncommitment to the Kingdom regarding the development and utilization of quantum\ntechnologies.\"\n\n\"Saudi Arabia is demonstrating a remarkable ambition to build the technologies\nand capabilities that will shape the next generation of computing. For Pasqal,\nour work in the Kingdom goes well beyond deploying quantum hardware. We want\nto build long-term partnerships, develop practical applications and contribute\nto an ecosystem capable of turning quantum computing into real industrial and\neconomic value.\"\n\nAs part of that ongoing commitment, Dr. Bokhari will deliver a keynote address\ntoday at LEAP 2026, where he will discuss the transition of quantum computing\nfrom scientific research toward industrial-scale applications and the growing\nrole quantum technologies can play in supporting economic growth and\ninnovation.\n\nThe KACST collaboration forms part of broader efforts to strengthen Saudi\nArabia's research, development and innovation ecosystem in quantum\ntechnologies, expand international scientific collaborations and support the\nKingdom's Vision 2030 objectives.\n\nContacts\n\nInvestors\ninvestors@pasqal.com\n\nMedia\npr@pasqal.com\n\nAbout Pasqal\n\nPasqal (Nasdaq: PSQL) helps organizations tackle problems that are difficult\nor impossible to solve with conventional computing methods alone. Founded in\n2019 on Nobel Prize–winning research, Pasqal builds and operates\nneutral-atom quantum computers, delivered with a full software stack, for\nindustry, science, and governments. Pasqal’s production-ready systems are\navailable both on-premises and through the cloud, enabling organizations to\nharness quantum computing without requiring in-house quantum expertise. A\nsingle hardware platform supports analog workloads today and is designed to\nevolve toward fault-tolerant quantum computing in the future.\n\nHeadquartered in France with operations globally, Pasqal’s quantum computing\nsystems are used by customers across energy, financial services and advanced\nmaterials to address complex challenges. Pasqal’s customers include Saudi\nAramco, Crédit Agricole CIB, LG Electronics and supported by partnerships\nwith NVIDIA and IBM (Pasqal is part of the IBM Quantum Network).\n\nForward-Looking Statements\n\nCertain statements herein may be considered “forward-looking statements”\nwithin the meaning of Section 27A of the Securities Act of 1933, as amended,\nand Section 21E of the Securities Exchange Act of 1934, as amended.\nForward-looking statements generally are accompanied by words such as\n“believe,” “may,” “might”, “will,” “estimate,”\n“continue,” “anticipate,” “intend,” “expect,” “should,”\n“would,” “could,” “plan,” “predict,” “project”,\n“forecast,” “potential,” “seem,” “seek,” “target,”\n“possible,” “future,” “outlook” or similar terminology or\nexpressions that predict or indicate future events or trends. These\nforward-looking statements include, but are not limited to, statements\nregarding future events, including Pasqal’s ability to accelerate global\ndeployment of its quantum computing platform.\n\nThese statements are based on current expectations and are not predictions of\nactual performance. They are provided for illustrative purposes only and must\nnot be relied on as a guarantee, prediction or definitive statement of fact or\nprobability. Actual events and circumstances are difficult or impossible to\npredict and are beyond the control of Pasqal. These statements are subject to\nknown and unknown risks and uncertainties and assumptions regarding Pasqal’s\nbusiness, and actual results may differ materially. These risks and\nuncertainties include, but are not limited to: general economic, political,\nsocial and business conditions; uncertainty or changes with respect to laws\nand regulations; risks related to Pasqal’s indebtedness; the risk from\nPasqal pursuing an emerging technology, facing significant technical\nchallenges and the potential that it may not achieve commercialization or\nmarket acceptance; Pasqal’s reliance on strategic partners and other third\nparties; Pasqal’s ability to maintain, protect and defend its intellectual\nproperty rights; and other risks that will be detailed from time to time in\nfilings with the U.S. Securities and Exchange Commission (the “SEC”). The\nforegoing list of risk factors is not exhaustive. There may be additional\nrisks that Pasqal does not know or currently believes are immaterial that\ncould also cause actual results to differ from those contained in\nforward-looking statements. In addition, forward-looking statements provide\nPasqal’s expectations, plans and forecasts of future events and views as of\nthe date of this communication. While Pasqal may elect to update these\nforward-looking statements in the future, Pasqal specifically disclaims any\nobligation to do so.\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/6e51e6ce-621e-472d-98f3-f5af95dbc526)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-08-31T12:00:02.409514163Z","server_sent_at_ms":1788177602409},"received_at":"2026-08-31T12:00:02.467Z","source_url":"https://www.globenewswire.com/news-release/2026/08/31/3353273/0/en/pasqal-and-kacst-launch-strategic-quantum-research-collaboration-as-pasqal-expands-presence-in-saudi-arabia.html"},"analysis":{"id":"120017","press_release_id":"131106","analysis_json":{"industry":{"label":"Technology Hardware, Storage & Peripherals","sector":"Information Technology"},"redFlags":[],"eventType":"partnership","narrative":"Pasqal signed a research collaboration agreement with King Abdulaziz City for Science and Technology to advance quantum technology and develop quantum-safe cryptographic 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