South Korea’s Norma has announced its first quantum computer export deal, signing an $18 million contract with Saudi Arabia’s Light Vision IT. Norma will deliver its superconducting quantum computer “Qrion”, capable of over 10 qubits, by mid-2025. The system includes the Q Platform for quantum programming and Quantum Artificial Intelligence (Q AI) features, providing a full-stack solution.

Currently under development, Qrion is undergoing rigorous testing to ensure functionality and performance. Norma CEO Hyun Chul Jung highlighted the strategic opportunity amid global export restrictions on quantum technology from the U.S. and China, emphasizing the competitiveness of Korean innovation. The decision to export followed a positive evaluation of Qrion’s commercial potential during its verification phase.

This contract underscores growing global interest in Norma’s technology, supported by its recent investment from Singapore’s Vertex Ventures, a subsidiary of Vertex Holdings. The Saudi deal has attracted attention from other investors across the U.S., Singapore, Japan, and the Middle East.

Norma plans to finalize a pre-IPO round in 2025, aiming to expand quantum computer development and sales as it strengthens its position as a leading Korean quantum company.

For more details, refer to an article (in Korean) posted on the website IT Daily here.

December 26, 2024

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