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Archer Exploration Ltd

Archer Exploration shares rise after commencing maiden quantum technology project

The company’s shares are trading about 4% higher intra-day, at 7.3 cents.

Restricted cleanroom at the Sydney Nanoscience Hub, University of Sydney
Restricted cleanroom at the Sydney Nanoscience Hub, University of Sydney

Archer Exploration Ltd (ASX:AXE) has commenced its maiden quantum technology project dubbed 12CQ to build a carbon-based quantum computing chip.

The chip forms the basis of intellectual property (IP) exclusively licensed to Archer from the University of Sydney.

READ: Archer obtains exclusive agreement for quantum computing technology, shares surge

Archer has begun building chip prototypes at the Research & Prototype Foundry Core Research Facility at the Sydney Nanoscience Hub having executed a facilities access agreement with the University of Sydney.

This coincides with the University’s appointment of Archer’s Quantum Technology manager Dr Martin Fuechsle as honorary associate.

Dr Martin Fuechsle operating the electron beam lithography instrumentation inside the cleanroom at the Sydney Nanoscience Hub. The working environment is highly controlled, and access is restricted, requiring specialised control over air quality, temperature, humidity, and lighting (orange) to counter any detrimental effects during chip building and testing.

Archer chief executive officer Dr Mohammad Choucair said: “We have started building the chip.

12CQ has a simple value proposition, that of realising practical quantum computing.

“Key components of our commercialisation plan are now in place and we are in a unique position to strengthen quantum computing in Australia.

READ: Archer Exploration pursues quantum computing and resources projects

“Access to the Research & Prototype Foundry at the Sydney Nanoscience Hub provides us with the specialised world-class infrastructure, facilities, equipment, and personnel we need to successfully build this potentially breakthrough quantum computing technology.”

Background

Quantum computers represent the next generation of powerful computing.

They consist of a core device (chip) made from materials capable of processing quantum information (qubits) necessary to solve complex calculations.

During his previous employment at the University, Dr Mohammad Choucair invented the first material known to overcome both the limitations of sub-zero operating temperatures and electronic device integration for qubits.



An entryway to the $150 million Sydney Nanoscience Hub, supported by the National Research Infrastructure for Australia as part of an Australian Government Initiative.

The conducting carbon material was able to process qubits at room temperature.

This has the potential to reduce the commercial barriers to quantum computing and make it globally accessible.

Market potential

Successful development of the technology would represent a major global breakthrough in the quantum computing industry, estimated to reach $US29 billion by 2021.

Next steps

The technical development defining 12CQ is a world-first, and Archer will begin building prototype devices by assembling atom-scale materials componentry while overcoming technical challenges in controlling, reducing, or eliminating the technical risks associated with realising the 16 claims in the patent application.

Dr Fuechsle is currently completing mandatory facility induction and instrument certifications at the Research & Prototype Foundry required for performing materials and device testing and characterisation.

Quick facts: Archer Exploration Ltd

Price: $0.12

Market: ASX
Market Cap: $22.67 m
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