QCI to build new quantum optical chip facility with aid of government funding
Quantum Computing (QCI) (NASDAQ: QUBT) plans to construct and operate a new state-of-the-art quantum optical chip facility in an effort to expand upon its current development capabilities.
The company hopes to benefit from the newly passed US federal CHIPS and Science Act of 2022, which has set aside US$52 billion for semiconductor manufacturing efforts in the country.
QCI chief executive officer Robert Liscouski said the Act opens the door to significant growth opportunities for the nation’s semiconductor industry.
“The passage of the CHIPS Act is a historic opportunity to transform the US semiconductor industry,” he said.
“We are positioned to play a significant role in this effort by applying our engineering expertise and quantum technology to develop the next generation of quantum computing technology, including nanophotonics chips.”
Mr Liscouski said while there is no certainty of securing the funding, the company is in talks with government officials, economic development groups and business communities which highly regard its technology.
He said QCI is recognised as a leader – boasting technology that is “vital to our technological base but also to the development of a well-educated and trained workforce that will enable the US to remain a leader in technological innovation.”
Facility complements QCI’s existing operations
QCI hopes to raise around $30 million from the CHIPS funding to assist with constructing the new facility, but will also call for extra help in the form of state and regional incentives.
The funds from the CHIPS Act are expected to be distributed to state and local governments in Q1 2023.
QCI said the proposed facility will complement its existing research and development activities taking place at its New Jersey facilities.
The company says its technology is used to combat complex constraint optimisation problems facing businesses and governments today.
An example of this is the QCI’s Entropy Quantum Computer (EQC), the Dirac 1, which solves real world business problems using its “game-changing quantum computational capability”.
Optical chips are said to offer the greatest scalability and performance advantages for quantum information processing, networking, sensing and imaging.
QCI aims to transition its current system’s platform technology into a highly integrated system on a chip design that will grow the core technology in scalability, stability, performance and cost.
Mr Liscouski said the opportunity to develop and expand its chip-making capacity is exciting.
“We believe the development of a commercially scalable quantum computing chip represents a massive opportunity, and one that QCI is ready to tackle,” he said.
“The launch of this new manufacturing and research project presents a bold first step toward achieving our vision of a new quantum future.”