Good Afternoon, In this fourth edition of Archer’s Newsletter for 2020, I am happy to welcome close to 1,000 new shareholders who have over the last week made the decision to back Archer and the Company’s strategy to build an industry-leading materials technology company.
Last week, we signed a quantum computing agreement with IBM (NYSE: IBM). This was a first for any Australian company in the race to build a quantum computing chip – the hardware that makes quantum computing possible. The technology we are developing at Archer is a result of over 7 years of R&D at world-renowned institutes which I led and co-invented.
We are not a university spin off. Alan Kohler over the weekend in The Australian wrote an interesting story about how Archer is now one of very few companies in Australia working on quantum computing with a compelling technology. In fact, Archer is one of few companies globally that provide investors a direct, on market opportunity to invest in innovative technologies, like quantum computing.
It was fantastic to see Yolanda Redrup in the Australian Financial Review covering Archer’s acceptance into the IBM Q Network as an ecosystem partner as part of the Company’s agreement with IBM. As Yolanda mentions, the IBM Q Network is made up of global leaders in the quantum computing field.
As a member of the IBM Q Network, Archer will have access to IBM’s quantum computing expertise and resources, and open-source Qiskit software and developer tools. IBM will also provide Archer access to the IBM Quantum Computation Center, which includes the most advanced quantum computers commercially available to explore practical applications for business.
So what are the next steps? We are moving rapidly – within 48 hours of inking the agreement with IBM, Archer now has remote access to the quantum computers at IBM. And yesterday, we lodged an announcement to ASX notifying shareholders of the progression of the EU Patent Application related to the 12CQ quantum computing technology.
We are continuing our technology development which involves assembling single qubit quantum control components of the 12CQ chip, and we remain on-track.
Importantly, all of Archer’s intellectual property rights and title to pre-existing materials are unaffected by the agreement with IBM.
The patent prosecution process is largely administrative and procedural – arguably not as exciting as our technology and commercial development – however equally as important. This is because IP is a key asset and one that could generate revenue through licencing in the strategic business model we are employing.
Archer holds an exclusive licence to the IP protecting the 12CQ quantum computing chip technology, with patent applications in Australia, Japan, South Korea, Hong Kong, China, Europe and the US, which are all currently undergoing patent granting procedures. We will continue to release key progress milestones in the patent applications’ prosecution to ASX.
The agreement with IBM is a realisation of the substantial progress Archer has made to date. I encourage shareholders to spend time familiarising with the activities of Archer, including the 12CQ technology. More information can be found on our website and also the links provided here:
And the other exciting areas of the Company:
We look forward to updating you with exciting news in the coming editions related to the development of Archer’s technology, with commentary and contributions from Archer staff, and we want to thank you for your continued support.
Dr Mohammad Choucair, FRACI FRSN GAICD
Chief Executive Officer
Archer Materials Limited (ASX:AXE)