Sorry, I'm on holidays and not sure if this has been posted, so my apologies if it already has been.

cheers

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Archer Exploration Ltd

Archer Exploration extols virtues of 12CQ quantum computing project at global tech conference

Owing to the success of conference participation, the company is engaged in discussions with conference organisers to present and exhibit at the next event in London during April 2020.

The company announced the 12CQ Quantum Computing Project in April 2019

Archer Exploration Ltd (ASX:AXE) has advanced the commercial plan for its ¹²CQ quantum computing project at a global level by presenting at this month's Quantum.Tech Global Business Conference and Exhibition in Boston, Massachusetts.

The conference brought together world-leading organisations from the US, Europe and Australasia with a focus on approaches to advance quantum technology commercial readiness.

During an intense two conference days and the following two days, Archer introduced conference delegates to the ¹²CQ project, initiated strategic business discussions, identified upcoming opportunities and conducted face-to-face meetings with key decision-makers in the quantum computing economy.

Archer is confident in the progress of its commercial plan and as a result, initiated ongoing discussions with critical support technologies, full-service providers and software companies as well as organisations to expand its infrastructure access in North America.

Quantum supremacy

In Archer’s latest newsletter, chief executive officer Mohammad Choucair said it was clear the quantum computing economy had ‘gone beyond the lab’ with a strong focus having emerged on the type of industry problems relating to quantum computing and how to solve them.

“No company has been able to demonstrate quantum supremacy yet.

“It is important to note that even a successful demonstration of quantum supremacy has no negative impact on Archer’s ¹²CQ chip development and does not diminish our key value proposition.

“Achieving quantum supremacy demonstrates that quantum computers could solve computationally hard problems that are useful to solve many times faster than existing computers, which would be good news for the quantum computing economy,” he said.

Background

The company has developed a ¹²CQ room-temperature qubit processor which could potentially provide a breakthrough solution to the widespread use and ownership of quantum computing powered technology.

This processor work is being carried out by the Archer team in Sydney in a world-class semiconductor foundry with an ISO Class-5 level clean-room, housing state-of-the-art nanofabrication instrumentation.

Archer’s strategy is to develop a qubit processor chip that can be directly sold with the intellectual property rights to the chip technology sublicensed by:

• De-risking the technology by building a room-temperature operational qubit processor chip prototype; and
• Establishing partnerships with organisations in the semiconductor industry.

Investors views

Choucair said notable investors Morgan Stanley, Prelude Ventures, WorldQuant Ventures and The Engine revealed during the conference that their view of all areas of quantum computing remained high-risk, primarily due to what they perceived as fundamental uncertainties.

These uncertainties revolved around timelines to the establishment of specific market sizes and competitive differentiation.

“This view was counterbalanced with the consideration of strong technical advances over the last few years, the enormous investments by tech companies and strong government support," Choucair said.

“Despite the caution taken around the immediate business potential of quantum computing, news of a major IBM deal (worth US$717 million backed by the German government) towards the end of the conference left an aura of inevitability – that quantum computing was likely to have a revolutionary global impact,” he added.