Archer Exploration Limited, a Sydney-based advanced materials business, has commenced its maiden quantum technology project dubbed ¹²CQ (pronounced “one two cee cue”) to build a carbon-based quantum computing device that operates at room-temperature.

¹²CQ represents a world-first in quantum computing development, with the majority of quantum computers only being able to operate at sub-zero temperatures. Other devices use light or special materials which overcome the temperature challenge; however, these are difficult to integrate into modern electronics, meaning neither of the current solutions are very practical for the everyday tech user. ¹²CQ provides a potential solution to unify those two challenges: an easily integrated quantum information processor for room-temperature operation.

The quantum chip forms the basis of IP that has been exclusively license with the University of Sydney, with chip prototypes being built at the Research & Prototype Foundry Core Research Facility at the Sydney Nanoscience Hub by Archer’s Quantum Technology Manager, Dr Martin Fuechsle, an Honorary Associate of USYD.

Commenting on the commencement of ¹²CQ, Archer, Chief Executive Officer, Dr Mohammad Choucair said, “I’m excited to announce that we have started building the chip. ¹²CQ has a simple value proposition, that of realising practical quantum computing. Key components of our commercialisation plan are now in place and we are in a unique position to strengthen quantum computing in Australia. Access to the Research & Prototype Foundry at the Sydney Nanoscience Hub provides us with the specialised world-class infrastructure, facilities, equipment, and personnel we need to successfully build this potentially breakthrough quantum computing technology.”

The technical development defining ¹²CQ is a world-first, and Archer’s Quantum Technology Manager, Dr Martin Fuechsle, will begin building prototype devices by assembling atom-scale materials componentry. Dr Fuechsle is internationally recognised in pioneering quantum device fabrication, having invented the world's first single-atom transistor, and previously worked alongside Professor Michelle Simmons, the 2018 Australian of the Year.

According to McKinsey, in 2015, Australia (5%), the EU (35%), and North America (30%), made up 70% of A$2.1bn (€1.5bn) world spend on high value quantum computing R&D. Morgan Stanley believes quantum technology could double the value of high-end computers to US$10 billion by 2027. Investment bank Goldman Sachs predicts that by 2021, quantum computing could become a $US29 billion industry, while the Boston Consulting Group highlighted the dependence of the market size on achieving technical milestones over the coming decades.

 

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About Archer Exploration Limited

Archer provides shareholders exposure to innovative technologies and the advanced materials that underpin them. The Company has a focused strategy targeting globally relevant advanced materials markets of human health, reliable energy, and quantum technology. Archer is well positioned to execute on its strategy.

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