December 1, 2021
two leading companies in the quantum computing industry have
combined to create Quantinuum, thereby accelerating the
development of quantum computing and innovation of quantum
technologies in a platform agnostic manner to deliver real-world
quantum-enabled solutions for some of the most intractable
problems that classical computers have not been able to solve.
Cambridge Quantum, the pioneer in quantum software, operating
systems, and cybersecurity, and Honeywell Quantum Solutions,
which has built the highest-performing quantum hardware, based
on trapped-ion technologies, today announced they have satisfied
all of the conditions required to close the business combination
and formed the new company, now called Quantinuum.
"Quantinuum is now the largest and most advanced integrated
quantum computing company in the world," said Ilyas Khan, CEO of
the new company and founder of Cambridge Quantum. "By uniting
the best-in-class quantum software available with the highest
performing hardware available, we are uniquely positioned to
bring real, quantum computing products and solutions to large,
high-growth markets in the near term, the medium term and the
longer term as quantum computers scale in capacity and quality.
We are science led, and enterprise driven, and our scale and
global presence in this most critical of technologies will
provide leadership in each of the key areas that constitute the
'must haves' for quantum computing to deliver real world
solutions to all our customers and partners."
Quantinuum will globally launch a quantum cybersecurity product
in December 2021, and later in 2022, an enterprise software
package that applies quantum computing to solve complex
scientific problems in pharmaceuticals, materials science,
specialty chemicals and agrochemicals. It will also announce
major upgrades to the System Model H1 hardware technologies,
Powered by Honeywell, which has the highest measured quantum
volume, as well as industry breakthroughs that reduce errors
thereby continuing to progress credibly towards the development
of a fault-tolerant quantum system. In this respect, the
H-Series quantum computers continue the trend of meeting and
exceeding the deliverables that the company has previously
committed to as part of its hardware roadmap.
"I am thrilled to help lead our new company, which will
positively change the world through the application of quantum
computing. Our scientists continue to work hard to develop the
best quantum software and hardware technologies available and I
am excited to be able to offer these to customers on an on-going
basis," said Tony Uttley, President and Chief Operating Officer
of Quantinuum. "The next few weeks and months are going to be
extremely active for Quantinuum as we increase the pace in
deriving unique value from today's quantum computers especially
in cybersecurity. However, in addition to cybersecurity, our
products will include solutions for drug discovery and drug
delivery, materials science, finance, natural language
processing, as well as optimization, pattern recognition, and
supply chain and logistics management."
was formed six months after Honeywell announced that Honeywell
Quantum Solutions, its quantum computing division, would
separate from the company and combine with Cambridge Quantum.
Honeywell will initially be the largest shareholder of
Quantinuum with an approximately 54 percent ownership stake in
the new company. Additionally, on top of this stake, Honeywell
has also invested nearly $300 million in the new venture,
ensuring that Quantinuum is well capitalized at inception.
Honeywell will also be a supplier to Quantinuum, supporting the
manufacturing process for the company's proprietary ion-traps.
Additionally, Honeywell is a customer of Quantinuum on various
projects across its business units.
Quantinuum has a staff of almost 400 people at inception, with
offices in the United Kingdom, United States, Japan, and
Germany. Of those employees, approximately 300 are scientists
working on technical teams to advance the hardware and develop
Quantinuum will maintain a European headquarters in Cambridge,
UK and a North American headquarters in Colorado, US. The
company will continue to be entirely platform agnostic in its
choice of hardware to provide total portability to its clients
and ensure the most effective performance for the problems being