Two leading quantum companies – Honeywell Quantum Solutions and Cambridge Quantum Computing (CQC) – have merged to form a new business called Quantinuum. The new company, which combines Honeywell’s expertise in quantum hardware with CQC’s software capabilities, has almost 400 employees. Quantinuum claims it is the world’s largest integrated quantum computing company, and has headquarters in both Cambridge, UK, and Colorado, US.
Honeywell’s hardware is based on trapped-ion qubits and the firm had achieved what it said was the highest-ever “quantum volume”, which indicates how many useful calculations a processor can do before breaking down due to decoherence. CQC, meanwhile, has focused on software that can be used in quantum chemistry to, for example, search for new drugs or develop novel carbon-capture materials. CQC’s software is compatible with all types of quantum computers – not only those using trapped ions – and Quantinuum will be similarly “platform agnostic”.
As well as having a majority stake of 54% in Quantinuum, Honeywell has additionally invested almost $300m in the new company. Quantinuum is due to launch a quantum cryptography product this month, and a software package in 2022 aimed at corporate clients in various industries from pharmaceuticals to agrochemicals.
Ilyas Khan, who founded CQC and is now chief executive of the merged business believes that the new firm will help “to bring real, quantum computing products and solutions to large, high-growth markets as quantum computers scale in capacity and quality”. Meanwhile, Tony Uttley, who was head of Honeywell Quantum Solutions, becomes president and chief operating officer of Quantinuum. “I am thrilled to help lead our new company, which will positively change the world through the application of quantum computing,” he said.
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This merger is a promising sign for the industry, according to James McKenzie, who was vice president for business at the Institute of Physics from 2016-2020. “It shows commercial relevance and fuels further investment,” he says. “Honeywell is a serious international business with a long-running and strong track record in commercialization of technology, so an acquisition or investment by them is a very positive statement about the UK quantum sector.”
This news also marks a big milestone in quantum computing for Najwa Sidqi, who is knowledge transfer manager for quantum technologies at KTN, a UK-based organization that aims to drive innovation by promoting networks between hi-tech firms and other stakeholders. “This merger will speed up the deployment of the technology and perhaps also access to quantum computing for end users,” she says. “It brings together strong talent and skillsets from both Honeywell and CQC, and I look forward to seeing where it goes in future.”
