Archer Materials well-funded to advance development of 12CQ quantum computing and lab-on-a-chip" biochip technologies – Proactive Investors USA

During FY21 the company strengthened its transformation into a pure materials technology play by disposing of mineral exploration assets.

(, ) made considerable progress during the financial year ended June30, 2021, and is well-funded to drive the ongoing development of its 12CQ quantum computing and lab-on-a-chip biochip technologies.

The company is developing these advanced semiconductor devices for commercialisation in the multi-billion-dollar global quantum technology and human health industries.

It is doing so after consolidatingits technology development to operate out of a world-class semiconductor research and prototyping foundry in Sydney, and linked nodes of Australian technology development facilities.

The company is well funded to advance its technology strategy with a net cash position of$6.2 million on June 30, 2021.

Archer has made considerable progress in modelling qubit behaviour and the control of qubits, and the control measurements going forward will beworld-first, particularly for solid-state, non-optical quantum computing systems.

During the period, the company signed a new agreement with IBM, allowing it to retain membership to the global IBM Quantum Network and the associated IBM Quantum Startup Program, and to progress the work initiated under the previous agreement.

In addition, Archer began working with Max Kelsen, another Australian member of the IBM Quantum Network, on possible end-use cases for the 12CQ chip.

This collaboration has so far involved adapting a unique class of quantum algorithms for potential big-data'related applications of quantum computing.

The company also signed a non-binding letter of intent (LOI) with the Australian Missile Corporation Pty Ltd, a wholly-owned subsidiary of Australian Defence Prime Contractor NIOA.

By signing the LOI, Archer confirmed its interest in cooperating with the AMC to help fulfil the Australian Governments long-term vision of developing sovereign Australian defence industrial capabilities.

Archers biochip is at an earlier stage of development than the 12CQ chip with the biochip nestled within the product category of MEMS/Sensor devices in the semiconductor industry.

Notably, biochip design principles involve using proprietary graphene-based materials to form the critical sensing elements in lab-on-a-chip technology.

Archer is also focusing on technological barriers to commercialising such devices that involve nanofabrication; another is in assembling a talented multidisciplinary team.

Archer'sbiochip technology.

As Archer moves towards commercialisation, intellectual property (IP) protection and patents will become crucial to stop others from manufacturing, using or selling its technologies in the relevant jurisdictions without the companys permission.

Promisingly, the company is working through patent application procedures in Europe, Hong Kongand Australia, after having patents granted in China, South Korea, Japan and the United States of America.

Archers strategic focus on technology strengthenedwith the completion of the sale of the Leigh Creek Magnesite Project, the Kelly Tank and Jamieson Tank projects, and an agreement with iTech Minerals Ltd for the conditional sale of all remaining mineral tenements.

Upon completion of the iTech sale, the company will receive 50 million iTech shares which itintends to pass on to shareholders through a pro-rata in-specie distribution.

Archer will not hold any iTech shares after the completion of the in-specie distribution, however, will keep the 2.0% net smelter return (NSR) royalty granted on the Jamieson Tank and Kelly Tank projects.

The transformation has signalled an increase in share price over FY21 from A$0.36at market close on July 27, 2020, to A$0.95 on June 30, 2021, and since then has hit a new high of A$3.08 in mid-August while the market cap is now approximately A$454.3 million.

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Archer Materials well-funded to advance development of 12CQ quantum computing and lab-on-a-chip" biochip technologies - Proactive Investors USA