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- Silex Systems (SLX), Silicon Quantum Computing and the University of NSW have been awarded a $3 million funding grant
- The funding will support the trio’s project to produce Zero-Spin Silicon
- Zero-Spin Silicon is a key material needed to power quantum computers which are expected to be thousands of times more powerful than today’s computers
- The success of this project is expected to open up opportunities for Australia to lead the way for quantum computing
- Silex is up 2.82 per cent and shares are trading for 36.5 cents each
Silex Systems (SLX), Silicon Quantum Computing and the University of NSW have been awarded a $3 million CRC-P funding grant.
The CRC-P (Commonwealth Cooperative Research Centres Projects) funding has been awarded to support the trio’s project which was announced in December 2019.
The project comprises the production of high purity “Zero-Spin Silicon” using Silex’s laser isotope separation technology.
Zero-Spin Silicon (ZS-Si) is a form of silicon needed for the fabrication of “next-generation” processor chips which will power quantum computers.
These computers are expected to be significantly more powerful than today’s state-of-the-art computers.
“This clearly demonstrates the Federal Government’s strong support for silicon-based quantum computing technology, and allows Silex and our project partners to pursue the project with optimum resources,” Silex CEO Dr Michael Goldsworthy said on receiving the funds.
Currently, there is a highly constrained and costly supply of enriched silicon made with traditional methods. This gives the company and its partners the opportunity to meet unfulfilled demand.
“The potential supply of this critical component of our supply chain will greatly improve the quality of our devices and allow us to manufacture our quantum processor products here in Australia,” SQC Director and Professor Michelle Simmons said.
Success in the project is expected to enable Australia to establish itself as a leading nation in Zero-Spin Silicon production which will create new manufacturing jobs and a value-added export market.
The project funding from CRC-P is subject to the signing of the Partners Agreement currently being negotiated.
The project is expected to cost roughly $8 million over a three year period, of which Silex’s contribution after the CRC-P grant will be roughly $4 million.
Silex is up 2.82 per cent and shares are trading for 36.5 cents each at 3:55 pm AEDT.
