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Quantum News Briefs, May 2, 2024: News From Riverlane and Horizon Europe • SandboxAQ • IonQ • Novo Nordisk and Novo Holdings • and the quantum processor market

IQT News — Quantum News Briefs
By Kenna Hughes-Castleberry posted 02 May 2024

Quantum News Briefs, May 2, 2024: Press release summaries below: 

Riverlane awarded £2.1m by Horizon Europe to develop the next generation of its quantum error correction decoder

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Riverlane, the leading quantum error correction technology developer, has been awarded a £2.1 million grant from the European Innovation Council Transition fund, supported by Horizon Europe and the Department for Science, Innovation & Technology. This grant will enhance the development of Riverlane’s quantum error decoder, which is essential for the real-time decoding of quantum operations—a significant step toward achieving quantum advantage. The company, the sole UK recipient among 27 awardees, will see its total funding rise to £55 million. The prototype, built on patented technology, will be integrated into a quantum control system by Dutch quantum computing firm Qblox, ensuring compatibility across various quantum computing system layers. This collaboration aims to advance the capabilities of quantum computers to process immense volumes of data and correct errors in real time, a crucial advancement for scaling quantum computing applications.

SandboxAQ Recruits Chris Bates as CISO

SandboxAQ - Elaia - Leading european VC

SandboxAQ has appointed Chris Bates as its first Chief Information Security Officer (CISO), enhancing its cybersecurity capabilities. Bates, a seasoned cybersecurity executive, joins SandboxAQ from SentinelOne, where he pivotally led the company to the largest cybersecurity IPO in 2021. In his new role at SandboxAQ, Bates will protect the company’s data, communications, and intellectual property. He will also contribute his expertise in sales, product development, and go-to-market strategies to develop SandboxAQ’s AQtive Guard cryptography management platform. This platform is vital for defending against increasingly sophisticated AI-driven attacks, particularly for large enterprises and banks. Bates’s extensive background, including roles at companies like Nike and General Dynamics, uniquely positions him to advance SandboxAQ’s cybersecurity initiatives and support its AI and quantum solutions growth.

Peter Chapman, CEO and President of IonQ, to Deliver Keynote Address at CO.MOBILITY Summit 2024

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The Company Lab (CO.LAB) has announced Peter Chapman, President and CEO of IonQ, as the keynote speaker for the CO.MOBILITY Summit 2024, slated for May 20th-22nd at the University of Tennessee at Chattanooga. Hosted in collaboration with EPB and the Chattanooga Quantum Collaborative, the event will spotlight Chapman’s pioneering work in quantum computing. His keynote, titled ‘Building Tomorrow’s Quantum Now,’ will explore the capabilities of trapped ion quantum computing and its future implications. The event will also feature a moderated discussion with Bob Corker, former U.S. Senator and Chattanooga Mayor, alongside another keynote by Eric Ries, author of ‘The Lean Startup’, contributing to over 60 speakers and 13 workshops. This gathering aims to delve into quantum’s impact on economic development and various industries, supported by Chattanooga’s unique quantum infrastructure and resources.

Novo Holdings, Owner of Novo Nordisk to invest $200 million in quantum computing startups

Novo Holdings A/S - Wikipedia

Novo Holdings, the investment arm of the Novo Nordisk Foundation and major shareholder of Danish pharmaceutical giant Novo Nordisk, announced plans to invest approximately $200 million in quantum computing startups, focusing particularly on life sciences companies in the Nordic region. The firm, which holds 77% of the voting shares in Novo Nordisk—a leader in obesity and diabetes treatments—aims to foster an ecosystem that leverages quantum computing to revolutionize the drug discovery process. Soren Moller, managing partner of seed investments at Novo Holdings, highlighted the potential of quantum technology to transform life sciences by accelerating the modeling of protein interactions and enhancing data analysis in complex biological systems. This strategic move is poised to capitalize on the early stages of quantum computing’s integration into life sciences, aiming to yield substantial advancements in the field.

In Other news: Yahoo Finance article:Global Quantum Processors Industry Research 2024: A $5+ Billion Market by 2033 – Collaborations and Partnerships for Innovations Fueling Opportunities”

Yahoo Finance on Yahoo

The “Global Quantum Processors Market – Analysis and Forecast, 2023-2033” report, recently added to ResearchAndMarkets.com, projects significant growth in the quantum processors market, expecting it to increase from $1.07 billion in 2023 to $5.02 billion by 2033, with a CAGR of 16.7%. This growth is fueled by advances in quantum computing technology and rising public and private investments. Quantum processors, essential for quantum computers, are gaining traction across various industries, including healthcare, finance, and cybersecurity, due to their potential to perform complex calculations exponentially faster than traditional computers. The market is experiencing rapid evolution, with increased demand prompting innovations in processor performance, scalability, and reliability. Key market players focus on overcoming challenges like qubit coherence and error correction to drive wider adoption and commercialization of quantum processors. The report highlights the strategic importance of collaborations among tech companies, research institutions, and government bodies in advancing the quantum computing industry.

Categories: quantum computing, research

Tags: Horizon Europe, IonQ, Novo Holdings, Novo Nordisk, Riverlane, SandboxAQ

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