IQM receives €35 million from The European Investment Bank (EIB) to accelerate the development of its quantum fabrication facility in Espoo, Finland.
IQM designs, researches, and manufactures quantum processors in the facility. The facility is the first of its kind in Europe, and the new EIB funding is dedicated to its expansion. The advanced facility will accelerate R&D and innovation and help IQM answer to the growing global demand for quantum processors.
Espoo’s quantum ecosystem has developed rapidly in the last couple of years, and IQM has been at the forefront of the development. In November 2020, IQM and VTT Technical Research Centre of Finland started to build Finland’s first quantum computer. About a year later, the two players announced that a 5-qubit version of the final 50-qubit quantum computer was up and running. Along with IQM and VTT, Aalto University is another player heavily involved in building Espoo and Finland’s quantum ecosystem.