Quantinuum is the world’s largest integrated quantum computing company
- Cambridge Quantum and Honeywell Quantum Solutions have combined to form a new company, Quantinuum
- Quantinuum will globally launch a quantum cyber security product in December 2021
- Honeywell will initially be the largest shareholder in Quantinuum, with an approximately 54% ownership stake
Two global leaders in quantum computing have integrated to form a global quantum computing company. Quantinuum is the result of the combination of Honeywell Quantum Solutions and Cambridge Quantum.
The global quantum computing market size was estimated at USD $421.48 million in 2020 and expected to reach USD $509.61 million in 2021, at a CAGR of 21.24% to reach USD 1,339.16 million by 2026. Several companies have already announced new innovations in quantum computing in the last couple of months as well.
For example, IBM recently unveiled an advanced quantum processor that is part of an effort to build super-fast computers. The new chip has 127 qubits, twice as many as the previous IBM processor. Meanwhile in China, Chinese physicists claimed that they’ve built two quantum computers that are capable of surpassing virtually any other quantum computer in the world.
As such, the new quantum computing company is expected the accelerate the development of quantum computing and innovation of quantum technologies in a platform-agnostic manner to deliver real-world quantum enabled solutions for some of the most intractable problems that classical computers have not been able to solve.
Both Cambridge Quantum and Honeywell Quantum Solutions are no strangers in the industry. As a pioneer in quantum software, Cambridge Quantum is known for its operating systems and cybersecurity while Honeywell Quantum Solutions have built the highest-performing quantum hardware based on trapped-ion technologies.
Both companies announced they have completed all the necessary steps to form the new company, Quantinuum. The integration makes Quantinuum the largest and most advanced integrated quantum computing company in the world.
According to Ilyas Khan, CEO of the new company and founder of Cambridge Quantum, by uniting the best-in-class quantum software available with the highest performing hardware available, Quantinuum is uniquely positioned to bring real, quantum computing products and solutions to large, high-growth markets in the near term, the medium term and the longer term, as quantum computers scale in capacity and quality.
“We are science-led and enterprise-driven, and our scale and global presence in this most critical of technologies will provide leadership in each of the key areas that constitute the ‘must haves’ for quantum computing to deliver real-world solutions to all our customers and partners,” added Khan.
The new quantum computing company will globally launch a quantum cyber security product in December 2021, and later in 2022, an enterprise software package that applies quantum computing to solve complex scientific problems in pharmaceuticals, material science, specialty chemicals, and agrochemicals.
The company will also announce major upgrades to the System Model H1 hardware technologies, powered by Honeywell, which has the highest measured quantum volume as well as industry breakthroughs that reduce errors thereby continuing to progress credibly towards the development of a fault-tolerant quantum system.
For Tony Uttley, President and Chief Operating Officer of Quantinuum, the new company will positively change the world through the application of quantum computing. Their scientists continue to work hard to develop the best quantum software and hardware technologies available and they are excited to be able to offer these to customers on an ongoing basis.
“The next few weeks and months are going to be extremely active for Quantinuum, as we increase the pace in deriving unique value from today’s quantum computers especially in cyber security,” explained Uttley. “However, in addition to cyber security, our products will include solutions for drug discovery and drug delivery, materials science, finance, natural language processing, as well as optimization, pattern recognition, and supply chain and logistics management.”
Quantinuum comes into existence six months after Honeywell announced that Honeywell Quantum Solutions, it’s quantum computing division, would separate from the company and combine with Cambridge Quantum. Honeywell will initially be the largest shareholder of Quantinuum, with an approximately 54% ownership stake in the new company.
Additionally, on top of this stake, Honeywell has also invested nearly $300 million in the new venture, ensuring that Quantinuum is well-capitalized at inception. Honeywell will also be a supplier of Quantinuum, supporting the manufacturing process for the company’s proprietary ion-traps, as well as a customer of Quantinuum on various projects across its business units.
With almost 400 staff, Quantinuum has offices in the United Kingdom, United States, Japan, and Germany. Of those employees, approximately 300 are scientists advancing the development of quantum hardware and software solutions. The company will continue to entirely platform agnostic in its choice of hardware, to provide total portability to its clients and ensure the most effective performance for the problems being solved.
20 September 2023
20 September 2023
19 September 2023