TORONTO, November 06 2025 -- Xanadu Quantum Technologies Inc. (“Xanadu”), a leading photonic quantum computing company, today announced it has advanced to Stage B of DARPA’s Quantum Benchmarking Initiative (“QBI”). This progress positions the company alongside a select few organizations who are demonstrating a credible path toward utility-scale quantum computing and reinforces Xanadu's photonic quantum computing approach.

QBI aims to determine which quantum computing approach will reach utility-scale, and which modalities can deliver value on realistic budgets and real-world timelines. Stage B marks a critical phase in this program, where DARPA will conduct an intensive, year-long examination of organizations’ comprehensive development, scaling, and cost control strategies. During this phase, Xanadu will present its plans that outline how to realize a fault tolerant, utility-scale quantum computer, detail associated risks and mitigation strategies, and set forth the steps needed to address any technical challenges.

"Advancing to Stage B is a testament to our team's ability to execute on our practical path to commercially useable quantum computing and validates not only the photonic modality, but also our commitment to creating fault tolerant quantum computers by 2029,” said Christian Weedbrook, CEO of Xanadu. "This phase allows us to demonstrate our near-term capabilities and our vision for building quantum computers that can help enterprises solve real-world problems at scale. We're excited to enter the next stage and contribute to the broader quantum computing ecosystem."

Xanadu's photonic quantum computing architecture offers distinct advantages over traditional quantum systems, including minimal cooling requirements due to room-temperature operations, enhanced qubit connectivity that enables more efficient fault tolerant operations, and a modular, networkable design that is critical for achieving practical quantum computing. Xanadu's latest photonic quantum computer, Aurora, serves as a proof-of-concept for this approach, providing the fundamental building blocks needed for large-scale, error-corrected quantum computing.

Participation in Stage B of QBI reinforces Xanadu's mission to develop quantum computing solutions that deliver practical value across industries, including drug discovery, advanced chemistry, aerospace, defense and AI. Organizations that successfully complete Stage B will advance to Stage C, where their quantum computer concept will be verified and validated to ensure they can be constructed as designed and operated as intended.

Business Combination

Xanadu recently announced a business combination agreement with Crane Harbor Acquisition Corp., a publicly traded special purpose acquisition company (“Crane Harbor”). The business combination is expected to provide approximately US$500 million in gross proceeds, assuming no redemptions from Crane Harbor trust account. The combined company is expected to be listed on the Nasdaq Stock Market and on the Toronto Stock Exchange.