Quantum computing is now a priority for a global leader in advanced materials technology, according to its chairman.
In Archer’s annual report, the chairman of the company said that developing quantum technology is at the top of the list of the Australian company’s priorities. Based in Australia, the materials technology company lists three areas of focus: quantum technology, human health and reliable energy.
“Archer has made a long-term commitment to building an industry-leading Materials Technology Business,” writes Gregg English, Chairman of Archer, in his annual letter to company shareholders. “We are only just commencing this journey and success will be achieved over time. Most significant over the year, was the execution of a license agreement with the University of Sydney for exclusive rights to develop and commercialize intellectual property (IP) related to carbon-based quantum computing technology.”
The license agreement gives the company exclusive international rights to the invention in Australasia, Europe and Australia.
English writes that the technology may solve a critical issue in the development of quantum computers. Most quantum computers cannot operate at room temperature and require sophisticated — and expensive — cooling processes and equipment. The carbon-based approach that the company licensed may lead to room temperature quantum computing.
He added that the company also added a quantum expert to their team, Martin Fuechsle, who joined the Archer team in the position of Manager, Quantum Technology. Fuechsle brings more than 10 years’ experience in successfully designing, fabricating, and integrating quantum devices
“With the execution of the license agreement and the appointment of Martin, we have the building blocks in place to commence development of our room temperature quantum computer chip and in April of this year we announced the commencement of the 12CQ Project. 12CQ has a simple value proposition, that of realizing practical quantum computing,” writes English.
The company has already made considerable advances. He writes that in April 2019 the company announced it had started building the quantum computer chip and successfully assembled the first components of a prototype qubit processor.
“We have started to build the chip on silicon substrates as silicon is the computer industry standard material for current classical computer chips,” English writes.
Archer (AXE) has been listed on The Australian Securities Exchange (ASX) since 2007.