Good morning, in this first issue of Archer’s 2021 Newsletter, we start the year with the results of the Company’s Second Quarter Activities, the granting of a patent in Japan, and preparations for a keynote presentation at the IBM Think Summit.
Archer ended the Second Quarter well-funded with approximately $6.93 million cash and no debt. The Company also sold two Eyre Peninsula tenements for $2.0 million and received its R&D Tax Incentive cashback. We continue to successfully meet key operational objectives while effectively minimising our cost base.
We were pleased to announce the granting of a Japanese patent associated with Archer’s 12CQ quantum computing chip technology. This is the first fully granted patent protecting the chip and represents a significant commercial milestone in Archer’s development of the 12CQ chip.
The grant of the Japan patent gives Archer access to the high-value Japanese market for the 12CQ chip and is the first step in the Company’s efforts to access global markets.
We have immediately taken action with Archer awarded entry into the highly competitive NSW Government’s ‘Going Global Program’ focusing on semiconductor foundries within the Australasian region. The program will provide Archer with the assistance it needs to expand into the region and develop suitable business contacts.
I highly encourage Archer shareholders to register for the IBM Think Summit (Australia & New Zealand) event. This is IBM’s flagship digital event experience. I will be giving the keynote presentation on Quantum Computing, sharing the Company’s vision to a global audience on how quantum computing technology can make positive economic and social impacts.
Dr Mohammad Choucair, FRACI FRSN GAICD
Chief Executive Officer
Archer Materials Limited (ASX:AXE)