Good Morning, in this month’s newsletter, we highlight the significant progress made in the international prosecution of patent applications related to the 12CQ chip, and our shareholders’ vote to sell all our remaining mineral exploration tenements.
Patents protecting the 12CQ chip have now been granted in Japan, South Korea, and China. The granting of the 12CQ chip-related patents in Asia is a significant step in the Company’s efforts to access global markets and participate in the semiconductor industry.
Archer is one of few companies with a patent portfolio protecting quantum computing chip technology and the Company considers Japan, South Korea, and China, as critical strategic jurisdictions to protect and potentially commercialise its 12CQ chip.
The Company continues to move forward with a pure technology focus. At a General Meeting on 30 Aug in Adelaide, Archer shareholders approved both the sale of its mineral exploration business to iTech Minerals Ltd and for an in-specie distribution to Archer shareholders of all the iTech shares to be received from the sale.
The final condition to complete the mineral exploration sale to iTech Minerals Ltd is for iTech to complete its Initial Public Offering (which is open) and be admitted to the ASX official list (subject to the standard conditions customarily imposed by the ASX). The iTech IPO includes a priority offer for Archer shareholders and iTech intends to list on ASX by 25 October 2021.
This month we also share a recent interesting report published by Boston Consulting Group that covers developments in the technology and business of quantum computing, with a focus on applications that could unlock hundreds of high-value end-use cases at tech maturity.
Dr Mohammad Choucair, FRACI FRSN GAICD
Chief Executive Officer
Archer Materials Limited (ASX:AXE)