Honeywell Completes Business Combination, Now Majority Owner of Quantinuum, a Quantum Computing Company
CHARLOTTE – Honeywell has successfully completed a business combination of its Honeywell Quantum Solutions division with Cambridge Quantum, and formed a new company, Quantinuum.
The previously announced business combination results in Honeywell having a controlling interest in Quantinuum. Honeywell and IBM were both previous investors in Cambridge Quantum.
Honeywell also announced that the company has entered into a long-term agreement with the newly formed Quantinuum for Honeywell to help manufacture the critical ion traps needed to power trapped ion quantum hardware.
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“The formation of Quantinuum marks an important milestone for the quantum computing industry,” said Darius Adamczyk, president and CEO of Honeywell and president of Quantinuum, in a statement.
“Quantinuum is now the world’s largest and most advanced integrated quantum computing company,” said Ilyas Khan, CEO of the new company and founder of Cambridge Quantum, in a statement released by the new company on its website. . “By combining the best quantum software available with the highest performance hardware available, we are uniquely positioned to deliver true quantum computing products and solutions to large, high growth markets in the short, medium and long term. term as quantum computers evolve in capacity and quality.
Quantinuum will be headquartered in Cambridge, UK and Broomfield, Co., according to the website and the company’s statement. It plans to launch this month what it touted as a “quantum cybersecurity product” and “enterprise software package that applies quantum computing to solve complex scientific problems in the fields of pharmacy, medicine. materials science, specialty chemistry and agrochemistry “in 2022, according to its statement on its website.
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The company employs around 400 people, also has offices in Japan and Germany, and is an IBM Quantum Hub. The company recently announced what it called “breakthroughs in the financial industry” in enabling quantum Monte Carlo simulations, and also conducted an experiment on quantum natural language processing, among other projects.
Quantinuum’s System Model H1 quantum computer, which the company claims is powered by Honeywell, recently hit a quantum volume of 1,024, which Honeywell says is the highest measured on a commercial quantum computer to date. In June, the company reached a quantum volume of 512.
According to the company, Quantinuum employs nearly 400 people, including more than 300 engineers and scientists, including some of the world’s leading experts in quantum computing. It has offices in the US, UK, Japan, and Germany, and is an IBM Quantum Hub.
Honeywell chose Charlotte as its global headquarters in 2018.
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