Archer Materials Ltd (ASX:AXE) (OTCMKTS:ARRXF) (FRA:38A) chief executive officer Mohammad Choucair introduced investors to the global-scale in opportunity its technology represents during the Proactive Technology Webinar on Tuesday, July 13.
The Sydney-based technology company is one of very few companies in the world building a quantum computing chip and the only one listed on the ASX doing so.
Holding a market cap of A$263.9 million, A$6.61 million cash in the bank at March 31, 2021, and no debt, he said the company was well-funded to act on its key activities which include progressing its deep-tech development with a focus on milestones in the operation of the 12CQ chip, strengthening commercial opportunities and advancing international prosecution of patent applications.
Market value
He said: “Archer’s objective is to build a quantum chip that can function at normal conditions on modern-day devices.
“We are on the path to achieving this and it is absolutely exciting to be in this position.”
Choucair highlighted that according to BCG and Goldman Sachs, value for investors in the multi-billion-dollar quantum computing economy is expected to increase rapidly as the commercial viability of quantum hardware matures.
- For one, the CSIRO reported Australian quantum tech could create A $4 billion revenue and 16,000 new jobs by 2040;
- The US National Quantum Initiative Act was signed into US law on Dec 21, 2018;
- The US is strengthening investments in quantum tech and preparing a quantum-ready workforce; and
- More than 100 companies in the UK are active in quantum computing with more than €1 billion of investment expected.
Potential end-uses
He said: “The 12CQ chip would allow for quantum computing onboard mobile devices for speedups and increased power in AI, big data and fintech applications.
“Quantum computing would give nations an incredible advantage.
“We expect Archer’s quantum chip technology to create entirely new quantum computing powered mobile devices that enable industry-wide innovation.”
Potential end uses in mobile and data-centric industries of the 12CQ quantum computing chip comprise the following:
- Autonomous cars – the quantum processing chip hardware could enable the full potential of self-driving capabilities;
- Drones – real-time coordination of drone swarms and impenetrable airborne quantum communication networks;
- Robotics – the rise of e-commerce is an opportunity for autonomous, scalable and modular robotic warehouses;
- Cybersecurity – networks using quantum cryptography algorithms could provide an ultra-secure internet;
- Space – space travel demands powerful and complex computing onboard satellites and spacecraft; and
- Blockchain – quantum devices may eventually become so fast that they undermine crypto-transaction processes.