Broomfield-based Honeywell Quantum Solutions and U.K.-based Cambridge Quantum closed their merger on Tuesday, forming Quantinuum, the first fully-integrated quantum tech company.
Quantinuum, which has a global headcount of 400 employees, will maintain a European headquarters in Cambridge and a North American headquarters in Broomfield, Colorado.
Honeywell Quantum Solutions came to Broomfield in 2016 and employs 160 team members across three buildings in the Interlocken business park. The company also employs 40 people in Minnesota.
Susan Schwamberger, Quantinuum’s chief human resources officer and vice president of operations, said the company plans to open a fourth office building, as it anticipates doubling its Colorado headcount over the next several years.
Honeywell announced in June that its quantum solutions division would break off and merge with Cambridge Quantum, but the deal did not officially close until Tuesday.
Honeywell will initially be the largest shareholder of Quantinuum with a 54 percent ownership stake in the new company. On top of this stake, Honeywell has also invested nearly $300 million in the new venture.
Bridging Software and Hardware
Quantum computers are able to solve more complex problems than classical computers. Quantum computers can tackle molecular modeling, which is used to develop drugs, vaccines and gene therapies. The computers are also capable of optimizing supply chain and logistics management.
This merger brings together leaders from the software and hardware ends of the quantum tech world.
On the hardware side, Honeywell Quantum Solutions has built two quantum computers —System Model H1.1 and System Model H1.2 — using trapped-ion technologies. System Model H1 is the highest performing commercial quantum computer in terms of quantum volume.
Cambridge Quantum, meanwhile, is a pioneer in quantum software, operating systems and cybersecurity.
Quantinuum’s CEO is Cambridge Quantum founder Ilyas Khan, who said in a statement that the new company is the “largest and most advanced integrated quantum computing company in the world.”
“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,” Khan said.
Quantinuum plans to launch a quantum cybersecurity product in December 2021.
In 2022, the company plans to launch an enterprise software package that applies quantum computing to solve complex scientific problems in pharmaceuticals, materials science, specialty chemicals and agrochemicals.
Building an Ecosystem
Quantinuum is the anchor of a quantum computing ecosystem that is already developing in the Colorado area.
Other quantum companies such as Cold Quanta — which raised a $20 million funding round to grow earlier this year — and Vescent Photonics already have a presence in Colorado.
The University of Colorado Boulder, Colorado School of Mines and University of Denver all have quantum-related programs, and Colorado-based federal research facilities under both the National Institutes of Standards and Technology (NIST) and National Renewable Energy Lab (NREL) are working in parts of quantum computing.
We want young adults interested in technology to know this is a career option for them.”
Quantinuum needs more than engineers to build quantum computing systems. The company also needs machinists and technicians from local community colleges.
Schwamberger said the company is working with local universities to develop quantum-related curriculum and create awareness about the possibilities of a career in quantum computing. The company also offers internships.
The company is also working with high school STEM programs to create awareness of quantum computing.
“We want young adults interested in technology to know this is a career option for them,” she said. “We need to continue to expand and build the ecosystem that will be important for quantum computing in the future.”
