- Technology company Archer Materials (AXE) is granted an Australian patent for its CQ quantum computing chip technology
- With this patent, the company’s technology is protected and Archer has labelled it a “significant early-stage milestone” for the development of the CQ chip
- CEO Dr Mohammad Choucair says the patent is a central element in Archer’s strategy to develop the CQ chip and “will contribute to strengthening quantum computing and technology innovation in Australia
- AXE shares have ended the day up 11 per cent, trading at 81 cents at market close
Archer Materials (AXE) has been granted an Australian patent for its CQ quantum computing chip technology.
With this patent, the company’s technology is protected and Archer has labelled it a “significant early-stage milestone” for the development of the CQ chip, which could create a path to realise practical quantum computing.
The patent provides the company with the exclusive and legally enforceable commercial rights to the CQ chip invention in Australia, giving Archer the right to stop others from manufacturing and selling the technology in the country.
Notably, Archer is the only ASX-listed company and one of a few players in the world that is developing qubit processor chip technology in the semiconductor industry.
CEO Dr Mohammad Choucair said that the patent is a central element in Archer’s strategy to develop the CQ chip.
“With the focus on quantum technologies in Australia now stronger than ever, we believe that the granting of the Australian patent related to Archer’s 12CQ chip will contribute to
strengthening quantum computing and technology innovation in Australia.”
The Australian patent joins several countries like Japan, China and 12 European countries in protecting the technology, with an additional patent application in Hong Kong that is still pending.
AXE shares were up 11 per cent, trading at 81 cents at market close.