Berkeley, CA, April 20, 2022 (GLOBE NEWSWIRE) -- Rigetti Computing, Inc. (“Rigetti” or “the Company”) (NASDAQ:RGTI), a pioneer in hybrid quantum-classical computing systems, today announced the addition of Eric Ostby as Vice President of Product, effective April 12, 2022.
Ostby will lead Rigetti QCS™ product and platform development to advance the Company’s Quantum Computing as a Service (QCaaS) business in the public and private sectors. Ostby brings a wealth of experience in product leadership, most recently as Senior Product Manager for Quantum Computing at Google where he played a key role in the demonstration of quantum supremacy.
“Eric has a unique blend of technical knowledge in quantum computing, product leadership, and hands-on strategy and M&A experience. I'm thrilled to add him to our deep and talented team,” said Chad Rigetti, founder and CEO of Rigetti.
Rigetti recently launched its 80-qubit Aspen-M quantum computer on QCS and Amazon Braket, with the system available in private preview on Microsoft Azure. Ostby will help Rigetti capitalize on the expected expansion of commercial market opportunities to serve customers exploring a variety of high value business applications.
"I am thrilled to join Rigetti to lead and grow the QCS product function, and collaboratively take Rigetti’s full-stack quantum computing product to the next level,” Ostby said. His role will fall under the Company’s broader QCS organization led by Senior Vice President David Rivas. Ostby adds: “I look forward to working alongside Rigetti’s talented teams, partners, and customers as we develop quantum native applications today that will change how we work and live in the future.”
Ostby has over a decade of experience in strategy development and product management at Google, Ingram Micro, and Boston Consulting Group. His most recent work at Google included serving as the Product Lead for their quantum computing service and hardware development teams. Ostby holds a B.S. in Electrical Engineering from the University of Minnesota, and an M.S. and Ph.D. in Electrical Engineering from Caltech.
About Rigetti
Rigetti is a pioneer in full-stack quantum computing. The Company has operated quantum computers over the cloud since 2017 and serves global enterprise, government and research clients through its Rigetti Quantum Cloud Services platform. The Company’s proprietary quantum-classical infrastructure provides ultra-low latency integration with public and private clouds for high-performance practical quantum computing. Rigetti has developed the industry’s first multi-chip quantum processor for scalable quantum computing systems. The Company designs and manufactures its chips in-house at Fab-1, the industry’s first dedicated and integrated quantum device manufacturing facility. Rigetti was founded in 2013 by Chad Rigetti and today employs more than 160 people with offices in the United States, U.K. and Australia. Learn more at www.rigetti.com.
Cautionary Language Concerning Forward-Looking Statements
Certain statements in this communication may be considered forward-looking statements, including but not limited to, achieving quantum advantage; driving commercial growth and adoption of Rigetti’s quantum-computing-as-a-service business and Rigetti’s partnerships with public cloud providers and government agencies; driving future revenue growth; and other statements that are not historical facts. Forward-looking statements generally relate to future events and can be identified by terminology such as “pro forma,” “may,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “potential,” “pursue,” “anticipate” or “continue,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Rigetti and its management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: Rigetti’s ability to achieve milestones, technological advancements, including with respect to its roadmap, help unlock quantum computing, and develop practical applications; the potential of quantum computing; the success of Rigetti’s partnerships and collaborations; Rigetti’s ability to accelerate its development of multiple generations of quantum processors; the outcome of any legal proceedings that may be instituted against Rigetti or others with respect to its business combination with Supernova Partners Acquisition Company II, Ltd. (the “Business Combination”) or other matters; the ability to meet stock exchange listing standards; the risk that the Business Combination disrupts current plans and operations of Rigetti; the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of Rigetti to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; costs related to the Business Combination and operating as a public company; changes in applicable laws or regulations; the possibility that Rigetti may be adversely affected by other economic, business, or competitive factors; Rigetti’s estimates of expenses and profitability; the evolution of the markets in which Rigetti competes; the ability of Rigetti to execute on its technology roadmap; the ability of Rigetti to implement its strategic initiatives, expansion plans and continue to innovate its existing services; the impact of the COVID-19 pandemic on Rigetti’s business; the expected use of proceeds of the Business Combination; the sufficiency of Rigetti’s cash resources; unfavorable conditions in Rigetti’s industry, the global economy or global supply chain, including financial and credit market fluctuations, international trade relations, political turmoil, natural catastrophes, warfare (such as the conflict involving Russia and Ukraine), and terrorist attacks; and other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the registration on Form S-4, the Company’s Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on March 7, 2022, and other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements other than as required by applicable law. The Company does not give any assurance that it will achieve its expectations.
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