PsiQuantum

It is expected that quantum computing will be a transformational technology, and this investment partnership will create significant opportunities for advanced manufacturing, advanced technology supply chains and higher education in Australia’s and Queensland’s quantum ecosystem.

Quantum computers are considered the next major development in computing, delivering tremendous data processing power, well beyond the capabilities of today’s super-computers. It will exponentially increase our ability to solve problems previously thought impossible. With applications across health and pharmaceuticals, chemicals, energy, security, and food production, quantum computing will tackle some of the most urgent practical challenges faced by society.

The Queensland Government and the Australian Government have partnered with PsiQuantum, a leading frontier technology company, to secure this significant opportunity for Queensland. This will be a significant manufacturing and production partnership that will see billions of dollars in direct investment by the company and the creation of up to 400 highly skilled jobs.

While the company is headquartered in Palo Alto in California, PsiQuantum has deep roots in Australia. Two of its co-founders, CEO Professor Jeremy O’Brien and Chief Architect Professor Terry Rudolph, were both born and raised in Australia. Professor O’Brien spent nearly a decade of his career at The University of Queensland – an internationally recognised leader in quantum computing – where the idea and early research for a photonic-based quantum computer was born.

Queensland is a global pioneer in cutting-edge quantum research and has been for decades. PsiQuantum’s presence in Queensland will further position the state at the epicentre of the world’s quantum ecosystem. The successful development of the world’s first commercial-scale fault-tolerant quantum computer would create a wealth of opportunities and act as a foundation to grow a globally significant industry in Australia.

Under the agreement, PsiQuantum committed to collaborating with high schools, universities and researchers. In July 2024, PsiQuantum announced a strategic partnership with 5 leading Queensland universities. This will help build out targeted educational programs to meet the growing demand for skills in the quantum computing economy and other advanced technology industries. Resulting roles will include quantum applications engineers; mechanical, optical and electrical engineers; software developers and technical lab staff. The partnership will also include areas of joint research interest in adjacent fields and expand these into larger projects as they progress.

PsiQuantum also plans to establish a dedicated Climate Research Centre in Brisbane to identify quantum applications for climate fields. The Centre will focus on direct air capture, green ammonia, solar cells and high-density electric batteries.

The investment aligns with the Queensland Quantum and Advanced Technologies Strategy and the National Quantum Strategy.

Artist impression of future computer facility