Cambridge Quantum, a pioneer in quantum software, operating systems, and cybersecurity, and Honeywell Quantum Solutions, which has built high-performing quantum hardware, based on trapped-ion technologies, announced they have satisfied all of the conditions required to close the business combination and formed the new company, now called Quantinuum.
Quantinuum will globally launch a quantum cybersecurity product in December 2021, and later in 2022, an enterprise software package that applies quantum computing to solve complex scientific problems in pharmaceuticals, materials science, specialty chemicals and agrochemicals. It will also announce upgrades to the System Model H1 hardware technologies.
Honeywell will initially be the largest shareholder of Quantinuum with an approximately 54 percent ownership stake in the new company. Honeywell has also invested nearly $300 million in the new venture. Honeywell will also be a supplier to, and customer of, Quantinuum.
Quantinuum has a staff of almost 400 people, including 300 scientists, at inception, with offices in the United Kingdom, United States, Japan, and Germany. Quantinuum will maintain a European headquarters in Cambridge, UK and a North American headquarters in Colorado, US. The company will continue to be entirely platform agnostic in its choice of hardware.