Archer, USYD quantum computing IP licence deal
An agreement has been struck between Archer Exploration and the University of Sydney Commercial Development and Industry Partnerships (CDIP).
The two organisations have executed an exclusive licence agreement that allows Archer to develop and commercialise room-temperature quantum computing technology.
The binding licence agreement is in relation to the technology (chip) capable of quantum information processing at room temperature, with patents protecting the licensed intellectual property (IP) having already been filed internationally to cover Europe, Australia, United States of America, Japan, Republic of Korea and China.
Archer intends to commercialise the quantum technology through licensing and direct sales channels and the successful development of the technology would represent a major global breakthrough in the quantum computing industry, estimated to reach US$29 billion by 2021 and linked to the US$500 billion semiconductor market, catalysed by technical advances that allow for practicality, accessibility and widespread consumer adoption.
“We have reached a significant milestone in Archer’s history. We now have the means to provide shareholders exposure to the development of a high-impact, globally competitive technology in the area of quantum computing that aligns strongly with our strategic focus area of quantum technology. We are one of very few companies in Australia that can provide that kind of exposure, so we are pleased to have executed the agreement before the end of Q2. It is exciting to think of the possibilities quantum computing can offer and being part of something so revolutionary,” said Archer CEO Dr Mohammad Choucair.
“Currently, the materials used in quantum computers either function at really low temperatures, or if they function at room temperatures, they are extremely difficult to integrate into modern electronics. Simply put, this limits their practicality and use. The IP we have licensed is a potential solution to these problems, and gives Archer a competitive advantage, that of the first mover. Importantly, the materials needed to realise the IP are available in the inventory of our wholly owned subsidiary, Carbon Allotropes.”
As part of the agreement, Archer has developed a commercialisation plan (Commercialisation Plan). Over the next 12 months, Archer will exploit the licensed IP materially in accordance with the Commercialisation Plan. The Commercialisation Plan includes a number of interdependent technical and commercial development milestones in each financial year quarter. Archer is in the process of hiring key personnel to manage the technical development (building the quantum computing processing chip) of the Commercialisation Plan.
Quantum computers represent the next generation of powerful computing. They consist of a core device (chip) made from materials capable of processing quantum information (qubits) necessary to solve complex calculations. One of the biggest challenges to widespread use involves keeping the qubit stable at room temperature while integrating into electronic componentry. The development of quantum computers is envisioned to impact industries reliant on computational power, including finance, cryptography, digital currencies and AI.
During his previous employment at the university, Archer CEO Dr Mohammad Choucair invented the first material known to overcome both the limitations of sub-zero operating temperatures and electronic device integration for qubits. The conducting carbon material was able to process qubits at room temperature. This has the potential to reduce the commercial barriers to quantum computing and make it globally accessible. The patented device forms the subject of the licensed IP.
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