Archer Materials Achieves Major Quantum Computing Milestone Archer Materials Limited

Archer Materials Achieves Major Quantum Computing Milestone

Archer Materials Limited (ASX: AXE) has reported that it achieved a major quantum computing milestone during the Q4 FY23, advancing its semiconductor technology and medical diagnostics industries. The company's breakthrough was included in its Quarterly Activities Report and Appendix 4C for the quarter ended 30 June 2023.

Increased Time-Window for Processing Quantum Information

Archer Materials developed a 12CQ chip qubit material that showed long coherence times in quantum computing, crucial for completing sophisticated calculations. The electrons in the specially prepared qubit material can hold quantum information for over 230 nanoseconds, which significantly increases the time-window for processing quantum information at room temperature beyond that for any known, similar qubit materials.

Unprecedented Quantum Functionality

Archer's engineered qubit material has given rise to unprecedented quantum functionality at room temperature in air, which is a significant breakthrough compared to qubit proposals that are difficult to integrate onboard modern-day devices.

Biochip Development and Commercial Partnerships

The company's biochip development also progressed during the quarter, with a biosensing graphene transistor design sent to a commercial foundry to verify scalability. The goal is to optimise the design and select the best one that is easily scaled up for commercial production.

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Archer Materials also became the first Australian company to partner with the World Economic Forum's Centre for the Fourth Industrial Revolution. This partnership opens several potential collaborative opportunities for Archer, providing direct access for global collaborators to utilise the company's semiconductor technology.

Strong Cash Position

The company is in a strong cash position with $23. 3 million and no debt, providing sufficient financial resources to support its ongoing research and development initiatives.

Management Commentary

Commenting on the Q4 FY23 activities, Greg English, Executive Chairman of Archer, said, "The Archer team has achieved a significant milestone during the quarter, advancing our semiconductor technology and medical diagnostics industries. This latest breakthrough shows the potential for quantum computing to revolutionise the way we process and analyse data. We look forward to further advancing our technology and expanding our partnerships in the years to come. "

Archer Materials' quantum computing advancements position the company as a major player in the rapidly expanding field and reflect its commitment to innovation and technological progress.

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