PsiQuantum plans to build utility-scale quantum computer in Australia
The photonic quantum computing company has received investment of AU$940 million from the Australian and Queensland governments, and intends to have a site operational in Brisbane by the end of 2027
PsiQuantum, a startup focused on photonic quantum computing, is planning to build what it says will be the world’s first utility-scale quantum computer at a strategically located site near Brisbane Airport in Brisbane, Australia. The Australian Commonwealth and Queensland Governments will invest AU$940 million (US$620 million) into the company through a financial package, comprised of equity, grants, and loans. PsiQuantum intends to have the site operational by the end of 2027.
A fault-tolerant quantum computer will be able to solve commercially useful problems across industries built upon chemistry, mathematics, and physics, potentially transforming critical industries – including renewable energy, minerals and metals, healthcare, and transportation – and propelling the global economy for decades to come.
The quantum computing industry has long faced complicated scaling challenges in building a quantum computer with enough physical qubits to enable error-correction, making it capable of delivering on quantum computing’s promise. PsiQuantum says it has scaled its fusion-based architecture using a photonics approach, encoding qubits into particles of light, and leveraging advanced infrastructure in the semiconductor manufacturing industry to fabricate and test millions of photonic devices. The company says its first utility-scale system will be in the regime of 1 million physical qubits and hyperscale in footprint with a modular architecture that can leverage existing cryogenic cooling technologies.
“A utility-scale quantum computer represents an opportunity to construct a new, practical foundation of computational infrastructure and in so doing ignite the next industrial revolution,” said Jeremy O’Brien, PsiQuantum CEO. “This platform will help solve today’s impossible problems and will serve as tool to design the solutions we so desperately need to safeguard our future. We’re thrilled to partner with the Australian and Queensland governments as our team at PsiQuantum takes a massive step forward in our mission to help deliver on the promise of quantum computing.”
The company added that it works with industry leaders from around the globe whose products and technologies are rooted in fundamental chemistry and science, such as the development of new drugs, more efficient renewable energy technologies including batteries and solar cells, and step-change improvements in processes to produce renewable energy sources such as green ammonia and green hydrogen.
“Today’s endorsement from the Australian government establishes another critical milestone in PsiQuantum’s mission to deliver the world’s first useful quantum computers,” said PsiQuantum chief business officer Stratton Sclavos. “With a utility-scale quantum computer in sight, our applications teams have been working with leading companies in pharmaceuticals, semiconductor manufacturing, aerospace, chemicals, and financial services to ensure that fault tolerant quantum applications are ready to deploy when the system is operational.”
