Honeywell Cambridge Quantum

History

2021: Building a company to launch "the most powerful quantum computer"

At the beginning of June, 2021 Honeywell united with a startup on development of the software for quantum computerovcambridge Quantum Computing (CQC) for creation of the world's largest specialized enterprise for development and release of quantum computing systems and accompanying ON.

Honeywell invests between $270 million and $300 million in the new Honeywell Cambridge Quantum, and it will own 54% of the new enterprise. The rest will remain with CQC and its investors, including International Business Machines. Honeywell CEO Darius Adamczyk will be chairman of the new company's board of directors. The completion of the joint venture is expected in the third quarter of 2021, provided that all regulators agree to the merger.

Honeywell and Cambridge Quantum created a joint venture to launch "the most powerful quantum computer"

The new business will offer the most productive quantum computer in the world and comprehensive quantum software, including the first and most advanced quantum operating system, Honeywell said in a press release.

CQC CEO and founder Ilyas Khan, who will become CEO of the new enterprise, said CQC is one of the founders of IBM's quantum ecosystem and will continue to work with IBM and other quantum computer manufacturers even after creating a joint venture with Honeywell.

Since we first announced Honeywell's quantum business in 2018, we have received a response from many investors who have sought to directly invest in our leading technologies at the forefront of this exciting and dynamic industry, they will now be able to do so, said Darius Adamchik. - The new company will provide us with the best opportunities to attract new, diverse sources of capital on a scale that will promote rapid growth.[1]

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