Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market


Archer Exploration Limited has entered a research collaboration with the University of Sydney to engineer a world-first carbon-based quantum computer chip.

This research agreement grants Archer Exploration access to the University of Syndey’s Research & Prototype Foundry Core Research Facility.

If successful, this technology will form the new standard for the universal computer chip. Archer Exploration also gains access to the University of Sydney’s chip building instruments and library resources.

Archer currently holds exclusive rights to the commercialisation of the technology patent, with the intention to license and sell directly to consumers on the market.

Archer CEO Dr. Mohammad Choucair says the company is in a unique position to improve quantum computing for Australia.

“Access to [UoS’ research facility] provides us with the specialised world-class infrastructure, facilities, equipment, and personnel we need to successfully build this potentially breakthrough quantum computing technology,” he said.

Goldman Sachs has predicted that the quantum computing industry will reach a value of $US29 billion by 2021.

No development timeline has been announced for the current project.

Please read the announcement attached

AXE by the numbers
More From The Market Herald
PlaySide Studios (ASX:PLY) - CEO, Gerry Sakkas

" PlaySide Studios (ASX:PLY) signs contract with Shiba Inu Games

Playside Studios (PLY) has signed a material work-for-hire contract with Shiba Inu Games, a derivative entity formed from the globally-recognised cryptocurrency, Shiba Inu.

" RocketBoots (ASX:ROC) lists on ASX after $4.25m IPO

Software company RocketBoots (ROC) has debuted on the ASX today after raising $4.25 million through an initial public offer (IPO).
Traffic Technologies (ASX:TTI) - Non Executive Chairman, Mark Hardgrave

" Traffic Technologies (ASX:TTI) raises $3.4m from rights issue

Traffic Technologies (TTI) has raised $3.4 million to repay existing debt and bolster its working capital balance.

" IODM (ASX:IOD) secures new revenue opportunity from WUBS partnership

Software solution company, IODM (IOD) has received a new revenue opportunity from its existing partnership with Western Union Business Solutions (WUBS).