Australian Government commits to quantum technology

Good morning, Yesterday the Prime Minister launched the Blueprint and Action Plan for Critical Technologies at the Australian Strategic Policy Institute inaugural Sydney Dialogue, which sets out a national vision and strategy for promoting critical technologies, including quantum computing, quantum sensing, and quantum communications. You can find the Blueprint and Action Plan online.

The Blueprint for Critical Technologies outlines the Government’s vision for critical technologies and the key pillars that will enable the Government to maximise the opportunities and mitigate the risks of critical technologies. The Action Plan demonstrates the Government’s new and existing initiatives to help realise this vision.

As part of the Action Plan, the Government has published Australia’s first List of Critical Technologies in the National Interest. The technologies, including Quantum Technologies, are either critical for Australia today or have the potential to become critical for Australia within the next ten years.

The Government consulted widely in the development of the list, which is part of Government’s guidance to industry, academia, and the broader public about critical technologies in the national interest. Archer was involved in Government consultations.

The initiatives headlining the Action Plan include a A$70 million investment over the next decade in The Quantum Commercialisation Hub (“Hub”) (see page 30 in the Action Plan) to help secure Australia’s quantum future:

• This Hub will provide another avenue for talented Australians to build their companies and technologies of the future in Australia.
• It will improve companies’ access to customers and investors in Australia and abroad, providing opportunities for industry and government partnership at all levels.
• Alongside the development of Australia’s first National Quantum Strategy, the Hub will be jointly developed with industry experts and Australia’s Chief Scientist.
• The Hub will focus efforts in areas where Australia can have a comparative advantage. This will help achieve the projected A$4 billion in economic value and 16,000 new jobs that CSIRO predicts quantum technologies can bring to Australia by 2040.

To accompany the Hub, the Australian Government has signed a Joint Statement of Cooperation on Quantum Science and Technologies with the United States. This statement will help promote research and development and encourage greater market access for quantum businesses in both nations.

In respect of Quantum Technologies, the Blueprint and Action Plan for Critical Technologies announced yesterday complements the CSIRO Growing Australia’s Quantum Technology Industry report and the Australian Department of Defence – Army Quantum Technology Roadmap.

Australia is not the only country identifying the importance of quantum technologies and strategically prioritising the long-term development of quantum technologies; the USA enacted the National Quantum Initiative Act of 2018 and China’s 14^th Five Year Plan seeks to boost research into quantum computing and semiconductors.

I look forward to updating you further as this element of Australia’s national strategy develops.

Sincerely,

Dr Mohammad Choucair, FRACI FRSN GAICD
Chief Executive Officer
Archer Materials Limited (ASX:AXE)