IQM Makes First Expansion Move; Creates Subsidiary in Germany to Drive Quantum Hardware-software Co-design

Espoo, Finland (ots/PRNewswire) - - Top quantum expert tapped to lead the new
facility

IQM Finland Oy (http://www.meetiqm.com/) (IQM), today announced an expansion
through the establishment of its first subsidiary company, IQM Germany, located
in Munich. The company also announced the appointment of renowned quantum
computing and quantum technology expert, Prof. Enrique Solano as CEO of IQM
Germany. IQM is an emerging hardware leader focused on developing quantum
computers based on scalable high-speed superconducting quantum processors. The
company was last Friday named as one of the ten most promising startups in
Finland by the Finnish financial magazine Talouselämä
(https://www.meetiqm.com/2020/03/06/iqm-receives-a-prestigious-startup-prize/) .

The expansion move intends to harness local quantum expertise to create a
co-design hub that tightens the interaction between quantum hardware and quantum
software development. The idea is to optimize quantum chips at the earliest
development stage to meet gate design, connectivity, gate fidelity, and other
technical imperatives for scalable quantum computing. The novel co-design model
lets IQM collaborate closely with its current and future software partners
throughout Europe to accelerate the development of useful quantum solutions for
specialized applications.

Prof. Enrique Solano will lead the Munich operation as CEO of IQM Germany. The
Peruvian/Spanish physicist is a renowned international expert in quantum
computing, quantum simulation, quantum artificial intelligence, and quantum
technologies. He joins IQM from his leading positions in two quantum centers in
Bilbao, Spain, and Shanghai, China.

"Munich was the obvious location for the new facility," said IQM's CEO, Dr. Jan
Goetz. "For Germany and Bavaria, in particular, building a quantum computer is a
strategic national priority. That commitment has produced an ecosystem of
quantum innovation, with stakeholders from industry, academia and the investor
community collectively focused on advancing Europe's quantum leadership."

The new facility marks IQM's first expansion outside of Finland. Since its debut
last July, the company has ramped up fast to build an infrastructure to produce
scalable quantum devices efficiently. At its operations lab in Espoo, qubit
samples are already being produced on a wafer scale every week. The devices are
benchmarked onsite for uniformity, accuracy, quality, and other imperatives for
real-world applications. The high-throughput/fast-feedback model allows IQM
technologists to constantly monitor the quality of the fabrication processes,
and thus ensure high-quality quantum processors.

At present, IQM´s team of experts drives the business in four core areas:
fabrication, scalable electronics, software, and systems integration. The new
team in Munich will extend these efforts to design special-purpose processors
for near-term algorithms, while also focusing on IP development. Of the
company's nearly three dozen employees, 25 hold PhDs, almost all in physics, and
specifically quantum computing.

Prof. Solano adds new weight to the multi-national IQM team with his record of
leadership in academic and entrepreneurial ecosystems. His previous roles
include Distinguished Professor and Director at QuArtist - Quantum Artificial
Intelligence for Science and Technology at Shanghai University in China, as well
as similar positions at the International Center of Quantum Computing and
Quantum Technologies at the University of the Basque Country in Bilbao, Spain.
He obtained his PhD in physics from the Universidade Federal de Rio de Janeiro
in Brazil.

"The hardware-software co-design model is different and exciting and brings a
design-think mindset to quantum computing," said Prof. Solano. "It lets us
develop and optimize next-generation chip architectures for specific
applications and implement quantum computing algorithms for industries with
entrenched operations in Germany and throughout Europe. For example, financial
models and predictions for car manufacturers, as well as models for drug design,
material design, aerodynamics, nuclear reactions, biological systems,
intelligent devices, use-cases for smart cities, and much more. I'm thrilled to
join the company."

Prof. Mikko Möttönen, Founder and Chief Scientist of IQM added: "I have long
admired Enrique for his ability to solve extremely difficult theoretical
problems that are useful for practical application. He's already building a team
of experts at IQM to increase our understanding of quantum algorithms to develop
financial models for myriad applications. This will enable us to quickly
optimize our hardware for new algorithmic inventions produced by our software
partners. He's a dream addition to the team."

For information on IQM, please visit http://www.meetiqm.com/

IQM Contact

Jan Goetz, CEO IQM; email: jan@meetiqm.com; +358 505 666 483 (English & German)

Mikko Möttönen, Chief Scientist, IQM; email: mikko@meetiqm.com; +358 505 940 950
(English & Finnish)

Enrique Solano, CEO IQM Germany; email: enrique.solano@meetiqm.com; +49 151 7217
3120 (English & Spanish)

Photo - https://mma.prnewswire.com/media/1121498/IQM_Quantum_Computer.jpg
Photo - https://mma.prnewswire.com/media/1121499/IQM_Solano.jpg
Logo - https://mma.prnewswire.com/media/1121497/IQM_Logo.jpg

Additional content: https://www.presseportal.de/pm/142245/4543391
OTS: IQM Finland Oy

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