PsiQuantum To Build First US-Based Utility-Scale Quantum Computer in Chicago, Illinois

CHICAGO--(BUSINESS WIRE)--Jul 25, 2024--

PsiQuantum today announced a far-reaching partnership with the State of Illinois, Cook County, and the City of Chicago to build the first US-based utility-scale, fault-tolerant quantum computer at the former US Steel South Works property in the City of Chicago. Under this agreement PsiQuantum will anchor the newly established Illinois Quantum and Microelectronics Park (IQMP) which will catalyze the state’s highly developed quantum ecosystem, including the University of Illinois Urbana-Champaign (UIUC), the University of Chicago, the Chicago Quantum Exchange, Argonne and Fermi national labs and DARPA, the US Department of Defense’s Advanced Research Project Agency and others.

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PsiQuantum’s first US utility-scale quantum computer, anchoring the Illinois Quantum and Microelectronics Park. (Photo: Business Wire)

The Illinois state budget for the fiscal year 2025 includes $500M committed to the development of the Quantum Park, including $200M for the build-out of a Cryogenic Plant to serve the cooling needs for PsiQuantum and other potential users. PsiQuantum will be the anchor tenant of the site with its Quantum Computer Operations Center spanning over 300,000 square feet and additional acreage for future expansion. PsiQuantum has also agreed with the State, Cook County, and the City of Chicago to a comprehensive package of incentives totaling more than $500M over 30 years to enable the company to rapidly move towards the build-out and commissioning of the Quantum Computing Operations Center.

It is widely acknowledged that a utility-scale quantum computer will need on the order of 1 million qubits, a number necessary to achieve the critical threshold for quantum error correction. The commissioning of such a system will enable highly precise answers for computational problems that can never be solved by conventional computers. Illinois’ critical industries — including agriculture, pharma, energy, materials, financial services and manufacturing — should all benefit significantly from these quantum computing capabilities.

“Quantum computers have held theoretical promise for decades, but it’s infrastructure projects like the Illinois Quantum and Microelectronics Park that are required to develop this technology and scale from hype to reality,” said Prof. Jeremy O’Brien, PsiQuantum CEO & co-founder. “Governor Pritzker and Illinois understand what’s needed to unlock quantum computing’s potential, and we’re thrilled to partner with them and anchor the state’s quantum strategy with the first utility-scale quantum computer in the United States at this iconic location”

Governor J.B. Pritzker has prioritized making Illinois a leader in quantum computing, with the state securing several federal grants and committing significant resources from its state budget to make Illinois a global leader in quantum, including the newly announced Quantum Proving Ground Initiative in partnership with DARPA which will bring $280M to the IQMP and support the development and validation of utility scale quantum computing technologies and systems.

“Considering the endless potential quantum computing technology holds, it is crucial that we commit to quantum partnerships, research, and infrastructure across our nation,” said Governor J.B. Pritzker. “In Illinois, we’re leading the charge with this first-of-its-kind quantum park to unite stakeholders, experts, and future generations of quantum leaders. I’m grateful that PsiQuantum will be our anchor tenant as we launch this exciting collaboration to create the jobs of the future, and PsiQuantum choosing Chicago cements our status as a global hub for quantum computing.”

“PsiQuantum’s investment in the City of Chicago is a groundbreaking leap into the future, making our city the proud home of America’s first utility-scale quantum computer,” said Mayor Brandon Johnson. “This monumental project will revolutionize the fields of medicine and clean energy, creating countless jobs and driving economic growth. Together, we are ushering in a new era of innovation, equity and sustainability for the South Side, solidifying Chicago’s place as a global hub for technological advancement.”

To bolster the Quantum Park and help build an even stronger quantum ecosystem, PsiQuantum will partner with the University of Illinois Urbana-Champaign, University of Chicago, University of Illinois Chicago and Northwestern University to collaborate on research projects and explore opportunities to develop educational programs in quantum applications. PsiQuantum’s operations in Chicago will create at least 150 jobs in the next five years and will be critical in developing a strong workforce that includes not only PhDs in quantum physics, but careers in mechanical, optical, and electrical engineering; software development; and technical lab work.

“We’re excited to be partnering with PsiQuantum and the Governor’s office to make the IQMP the leading quantum computing hub in the world,” said University of Illinois Urbana-Champaign Chancellor Robert Jones. “The University of Illinois Urbana-Champaign along with our other university partners will be working closely with PsiQuantum in the build-out of the cryogenic plant that will support the first US-based utility-scale quantum computer. This collaboration with the PsiQuantum team will bolster Illinois’ quantum workforce and scale this technology into a new quantum reality.”

PsiQuantum’s headquarters are in Palo Alto, California, with research and development sites in San Jose, CA; Malta, NY; and Daresbury, UK. The company has longstanding partnerships with various U.S. government agencies, including DARPA through its US2QC program, the Air Force Research Laboratories (AFRL), and the U.S. Department of Energy.

In April 2024, the Australian Commonwealth and Queensland governments announced a $620 million USD financial package for PsiQuantum to build the first utility-scale, fault-tolerant quantum computer in Brisbane, Australia. PsiQuantum’s plans in Australia remain unchanged and the company recently announced new partnerships with top academic institutions in Queensland and growing operations in Brisbane.

PsiQuantum is pursuing an aggressive plan to deliver useful quantum computers on the fastest path possible. We will continue to work with our commercial and government customers around the globe to ensure they’re ready with transformative applications that will deliver on the promise of quantum computing.

About PsiQuantum:

PsiQuantum was founded in 2015 and is headquartered in Palo Alto, California. The company’s mission is to build and deploy the world’s first useful, fault-tolerant quantum computing systems. PsiQuantum’s photonic approach enables it to leverage high-volume semiconductor manufacturing and existing cryogenic infrastructure to rapidly scale its systems. Learn more at www.psiquantum.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20240725638752/en/

CONTACT: Media Contact:

Alex Mack – Director, Marketing & Communications

amack@psiquantum.com

media@psiquantum.com

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SOURCE: PsiQuantum

PUB: 07/25/2024 06:00 AM/DISC: 07/25/2024 06:00 AM

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