Mitsui to invest in Quantinuum, a leading global quantum computing company, and sign a distributorship agreement for … – Mitsui

Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Kenichi Hori) made a US$50M investment in Quantinuum ("Quantinuum", Head Office: Broomfield, Colorado, U.S.A., CEO: Rajeeb Hazra), a leading global quantum computing company. This investment is part of Quantinuum's US$300M equity fundraise, and was completed alongside JPMorgan Chase, Honeywell and Amgen. The investment will accelerate Quantinuum's path toward developing the world's first universal fault-tolerant quantum computers*1, while also extending the company's leading quantum software offerings.

Mitsui and Quantinuum have also entered into a distributorship agreement to introduce Quantinuum's solutions to the Japanese and Asia-Pacific markets. Mitsui will jointly propose and provide Quantinuum's knowledge, know-how and solutions, starting with the quantum cybersecurity field, to advanced users in the region that are leveraging the power of quantum computing.

By 2035, it is forecasted that quantum computing will grow to become a US$450B - $850B*2 market worldwide, in fields such as new material development, healthcare, financial services, cybersecurity, and logistics optimization. Development and utilization of the technology is accelerating worldwide.

Mitsui and Quantinuum will further deepen their strategic partnership through investment and business collaboration to accelerate the development of use cases, create new business models, and enhance customer offerings by integrating Mitsui's business knowhow in a wide range of global industrial sectors with Quantinuum's advanced quantum technology.

Notes *1 A quantum computer that can automatically correct errors that occur even with a sufficient number of qubits and accurately calculate while correcting them. (FTQC: Fault-Tolerant Quantum Computer) *2 Source: Boston Consulting Group "Quantum Computing Is Becoming Business Ready" (May 2023)

http://www.quantinuum.com/

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Mitsui to invest in Quantinuum, a leading global quantum computing company, and sign a distributorship agreement for ... - Mitsui