VANCOUVER, Aug. 6, 2024 -- BTQ Technologies Corp., a global quantum technology company focused on securing mission-critical networks, is pleased to announce the receipt of a major funding award that will complement the company's existing IP portfolio in the post-quantum space. BTQ plans to continue pursuing additional research and development grants and collaborations to expand its presence in Canada's vibrant quantum and cybersecurity ecosystems.

In May 2024, BTQ received approval for its Mitacs Accelerate project titled "Enabling Efficient Zero-Knowledge Proofs-Based Post-Quantum Digital Signature Schemes." The project, supervised by Prof. Guang Gong from the Department of Electrical and Computer Engineering at the University of Waterloo, is set to continue until July 2026.

With the rapid development of quantum computers, the U.S. National Institute of Standards and Technology (NIST) has issued a National Security Memorandum to ensure the timely and equitable transition of cryptographic systems to quantum-resistant cryptography by 2035. This initiative urges the direct implementation of post-quantum cryptographic (PQC) algorithms in all layers of protection mechanisms for new digital systems. The goal of this project, jointly led by BTQ and the University of Waterloo, is to investigate the efficiency and commercial implementation of Preon, one of the candidates in NIST's Additional Digital Signature Schemes Round 1 for the PQC Standardization Process, submitted by BTQ in July of last year.

Guang Gong, the project lead, Professor in the Department of Electrical and Computer Engineering, University Research Chair, and IEEE Fellow, commented on the collaboration: "I am very glad to receive this Mitacs grant with our industrial partner HH-BTQ. The project aims to investigate the efficiency and implementation of Preon (submitted to NIST 2023), a post-quantum digital signature scheme based on the Aurora zero-knowledge non-interactive argument of knowledge (zkSNARK) proof system and the AES circuit for optimized signing and verification processes. This collaborative environment will provide graduate students and post-doctoral fellows with rich research experiences and in-depth exposure to cutting-edge industrial research and development."