IQM Receives a €35 Million ($36.7M USD) Loan for Its Quantum Fabrication Facility
dougfinke2023-05-09T13:13:20-07:00The loan was provided to IQM by the European Investment Bank (EIB) to expanding the fabrication facility that they announced last November and to accelerate material research and development of quantum processors. The facility, located in Espoo, Finland, will be Europe’s first quantum-dedicated fabrication and help reduce Europe's dependency on chips fabricated in Asia. IQM received additional help from EIB Advisory Services support prepare the financing application. IQM had won a contract in November 2020 to deliver a series of superconducting based quantum computers to VTT, a government owned research center in Finland and has already delivered the 5 qubit version. They are working [...]