Strategic Partnership Agreement
To Develop the Quantum Computing Market in Japan and Asia-Pacific
Tokyo, Japan, Cambridge, UK, Broomfield, Colorado, October 18th, 2022 — Mitsui & Co., Ltd (“Mitsui”) and Quantinuum have signed a strategic partnership agreement to collaborate in the delivery of quantum computing in Japan and the Asia-Pacific region.
Mitsui, which is committed to digital transformation, and Quantinuum, one of the world’s leading quantum computing companies, integrated across hardware and software, have entered this strategic partnership to develop quantum computing use cases, which are expected to drive significant business transformation and innovation in the future.
Mitsui and Quantinuum will accelerate collaboration, cooperation, and development of new business models. They will jointly pursue quantum application development and provide value added services to organizations working across a variety of quantum computing domains, which is expected to be worth US$450B – US$850B worldwide by 2040.*
Yoshio Kometani, Representative Director, Executive Vice President and Chief Digital Information Officer of Mitsui & Co., Ltd. stated: “We are very pleased with the strategic partnership between Mitsui and Quantinuum. By combining Quantinuum's cutting-edge quantum computing expertise and diverse quantum talents with Mitsui's broad business platform and network, we will work together to provide new value to our customers and create new business value in a wide range of industrial fields.”
Ilyas Khan, Founder and CEO of Quantinuum stated: “The alliance between Mitsui and Quantinuum demonstrates our shared commitment to accelerating quantum computing across all applications and use cases in a diverse range of sectors, including chemistry, finance, and cybersecurity. Today’s announcement reinforces our belief in the global quantum leadership shown by corporations and governments in Japan, pioneered by corporate leaders like Mitsui.”
Details of the Strategic Partnership
- Joint development of business use cases and business models utilizing quantum computing (pharmaceutical, materials development, energy, mobility, logistics, etc.)
- Market development through dissemination and sharing of quantum computing knowledge
- Introduction of Quantinuum's quantum computing solutions to the Japanese and Asia-Pacific markets
Collaboration areas and applications
- Quantum computational chemistry (pharmaceutical, chemical, energy industry, etc.)
- Quantum cybersecurity
- Various optimization applications using quantum computers
- Quantum natural language processing and artificial intelligence
Recent Achievements by Quantinuum
- In December 2021, announced Quantum Origin, the world's first commercial cybersecurity product that uses a quantum computer to do something impossible on a classical machine.
- In May 2022, launched InQuanto, a state-of-the-art quantum computational chemistry software platform using quantum computers. Quantinuum announced collaboration with Mitsui in the field.
- In August 2022, Quantinuum succeeded in entangling two logical qubits in a fault-tolerant quantum circuit for the first time using real-time quantum error correction, an important step toward realizing a fully fault-tolerant quantum computer.
- In September 2022, Quantinuum announced the achievement of QV8192, the world's highest quantum volume in the gated ion trap quantum computer System Model H1, Powered by Honeywell.
- Also, TKET, Quantinuum's quantum compiler (a free open-source software development kit), exceeded 500,000 downloads in 2022.
For inquiries regarding this matter, please contact:
- Corporate Communications Div., Mitsui & Co., Ltd.: https://www.mitsui.com/jp/en/contact/index.html
- Quantinuum Japan Public Relations Office (PRAP JAPAN): quantinuum_pr@prap.co.jp, 03-4580-9156
- Quantinuum Global Public Relations Office
About Mitsui & Co., Ltd.
Location: 1-2-1 Otemachi, Chiyoda-ku, Tokyo
Established: 1947
Representative: Kenichi Hori, President and Representative Director
Mitsui & Co., Ltd. (8031: JP) is a global trading and investment company with a diversified business portfolio that spans approximately 63 countries in Asia, Europe, North, Central & South America, The Middle East, Africa and Oceania.
Mitsui has about 5,500 employees and deploys talent around the globe to identify, develop, and grow businesses in collaboration with a global network of trusted partners. Mitsui has built a strong and diverse core business portfolio covering the Mineral and Metal Resources, Energy, Machinery and Infrastructure, and Chemicals industries.
Leveraging its strengths, Mitsui has further diversified beyond its core profit pillars to create multifaceted value in new areas, including innovative Energy Solutions, Healthcare & Nutrition and through a strategic focus on high-growth Asian markets. This strategy aims to derive growth opportunities by harnessing some of the world’s main mega-trends: sustainability, health & wellness, digitalization and the growing power of the consumer.
Mitsui has a long heritage in Asia, where it has established a diverse and strategic portfolio of businesses and partners that gives it a strong differentiating edge, provides exceptional access for all global partners to the world’s fastest growing region and strengthens its international portfolio.
For more information on Mitsui & Co’s businesses visit, https://www.mitsui.com/jp/en/index.html
About Quantinuum
Location: Cambridge, U.K., Broomfield, Colorado, U.S.A.
Established: December 2021 (through the merger of Honeywell Quantum Solutions (U.S.) and Cambridge Quantum Computing (U.K.))
Representative: Ilyas Khan, CEO; Tony Uttley, COO; Shuya Kekke, CEO & Representative Director, Japan
Quantinuum is one of the world’s largest integrated quantum computing companies, formed by the combination of Honeywell Quantum Solutions’ world-leading hardware and Cambridge Quantum’s class-leading middleware and applications. Science-led and enterprise-driven, Quantinuum accelerates quantum computing and the development of applications across chemistry, cybersecurity, finance, and optimization. Its focus is to create scalable and commercial quantum solutions to solve the world’s most pressing problems in fields such as energy, logistics, climate change, and health. The company employs over 480 individuals, including 350 scientists, at nine sites across the United States, Europe, and Japan.
Selected major customers (in Japan): Nippon Steel Corporation, JSR Corporation
About Quantinuum
Quantinuum, the world’s largest integrated quantum company, pioneers powerful quantum computers and advanced software solutions. Quantinuum’s technology drives breakthroughs in materials discovery, cybersecurity, and next-gen quantum AI. With over 500 employees, including 370+ scientists and engineers, Quantinuum leads the quantum computing revolution across continents.
Broomfield, Colorado, November 19th, 2024 – Quantinuum, the world’s largest and leading integrated quantum computing company, has been recognized by Fast Company as a winner in the 2024 Next Big Things in Tech Awards in the Computing, Chips, and Foundational Technology category. In its fourth year, the list honors technology breakthroughs that promise to shape the future of our society. This prestigious accolade underscores Quantinuum’s advancements with its System Model H2 quantum processor, the latest in a series of groundbreaking announcements.
Quantinuum’s H2 Quantum Processor: A Breakthrough in Quantum Computing
Launched in 2023 and upgraded in 2024, the H2 quantum processor represents a major advancement in quantum computing. As the most benchmarked system with the highest quantum volume in the industry, H2 is a testament to Quantinuum’s path in leading the world to universal, fully fault tolerant quantum computing future.
"The System Model H2 represents a significant leap in computing, demonstrating capabilities that can no longer be fully simulated by classical computers." said Dr. Rajeeb Hazra, President & CEO of Quantinuum. "Its unique design has led to significant achievements, including the creation of 12 reliable logical qubits and a 100-fold enhancement in a key quantum computing benchmark, Random Circuit Sampling (RCS). These results have made our systems integral to hybrid quantum computing workflows, combining our high performing quantum systems with leading AI and HPC solutions.”
These innovations have the potential to revolutionize fields like chemistry, drug discovery, and financial forecasting, demonstrating the far-reaching implications of Quantinuum's work.
Roadmap to Universal, Fully Fault Tolerant Quantum Computing
Quantinuum recently unveiled its accelerated roadmap to achieve universal fault-tolerant quantum computing in 2029. This integrated path not only emphasizes hardware advancements but also focuses on critical software capabilities that are essential for delivering full-stack quantum computing and hybrid quantum computing solutions.
Quantinuum’s next system, Helios, will launch in 2025 with 96 qubits and will help to unlock scientific advances that will surpass classical computing results.
About Quantinuum
Quantinuum, the world’s largest integrated quantum computing company, pioneers powerful quantum computers and advanced software solutions. Quantinuum’s technology drives breakthroughs in materials discovery, cybersecurity, and next-gen quantum AI. With over 500 employees, including 370+ scientists and engineers, Quantinuum leads the quantum computing revolution across continents.
- First successful delivery of quantum tokens using commercial QKD hardware, demonstrating fast transaction verification at the point of exchange - a crucial step toward quantum-enhanced financial security and a major advance for QKD.
- Quantum tokens are designed to provide unforgeability, privacy, and fast settlement, in a single financial instrument. No previous technology can deliver these three combined benefits.
- In the world’s first implementation using off-the-shelf hardware, quantum tokens were transmitted across 10km of fibre in Tokyo, using commercial quantum key distribution (QKD) devices provided by NEC*.
- This is a pivotal step towards the deployment of ultra-high-security quantum tokens in use cases such as tokenized asset security and high-speed trading.
Tokyo, Japan and Broomfield, Colorado - November 18th, 2024 – In a long anticipated trial, Quantinuum ("Quantinuum", Head Office: Broomfield, Colorado, U.S.A., CEO: Rajeeb Hazra), together with Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Kenichi Hori) and NEC ("NEC", Head Office: Tokyo, President and CEO: Takayuki Morita) today announced the successful delivery of quantum tokens across a 10km fibre-optic network in Japan. This is the first time such a delivery has been accomplished.
Quantum tokens are a new financial instrument that take advantage of the properties of quantum physics to meet the robust demands of asset trading without the communication overheads required by traditional financial systems. Quantum tokens are transmitted across fibre-optic quantum key distribution (QKD) networks, which are rapidly expanding around the globe. Today's announcement with Mitsui demonstrates growing industry recognition of quantum tokens' potential in financial services.
Ilyas Khan, Founder and Chief Product Officer at Quantinuum, said: “The original motivation for quantum communications was the exchange of money, as envisaged by Stephen Wiesner. Today, we have demonstrated real-world security enhancements for financial systems using off-the-shelf quantum communications hardware. This opens the door to a new era in quantum-enhanced security with wide applicability, providing commercial organisations with something concrete to utilise.”
Koji Naniwada, Deputy General Manager, Quantum Innovation Dept. at Mitsui, said: “Quantum tokens will increase the security of digital assets, while improving transaction performance and maintaining privacy. These topics are critical for our customers and partners in the financial sector and this demonstration is a valuable outcome of our partnership with Quantinuum.”
Naoki Ishida, Director with the Trading and Service Solution Department at NEC, said: “We are the first to provide a platform for realizing a quantum token system using NEC’s quantum key distribution (QKD) devices. Based on the results of this trial between Mitsui & Co. and Quantinuum, we will continue to work towards the social implementation of quantum cryptography technology.”
Quantum tokens are designed to use quantum physics to prevent forgery, while ensuring transactions can be settled near-instantly, whereas traditional payments systems rely on double-entry bookkeeping to prevent double-spending of funds. This adds time, overhead and risk to every transaction, as digital systems are consulted to confirm funds are available and to settle transactions.
Quantum tokens instead rely on the no-cloning theorem of quantum physics to prevent forgeries and double-spending. Only the intended recipient will receive the correct token data, which can only be spent at one location in the future. This enables near-instant transaction settlement by removing the need to check multiple systems or wait for network confirmations.
As demonstrated in Quantinuum’s recent work with HSBC, securing digital assets in the quantum-age is growing in urgency. The financial sector is increasingly looking to quantum technology to solve these complex problems with the power of nature.
Learn more about this new frontier of financial security, powered by quantum, in our whitepaper.
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Note:
(*) The equipment provided by NEC was partially supported by results from Japan’s Ministry of Internal Affairs and Communications’ (MIC) “Research and development for construction of a global quantum cryptography network”(JPJ008957) under “R&D of ICT Priority Technology Project” (JPMI00316) and Japan’s Cabinet Office’s "Photonics and Quantum Technology for Society 5.0" project under the Cross-ministerial Strategic Innovation Promotion Program (SIP).
About Mitsui
Mitsui & Co. is a global trading and investment company with a presence in more than 60 countries and a diverse business portfolio covering a wide range of industries.
The company identifies, develops, and grows its businesses in partnership with a global network of trusted partners including world leading companies, combining its geographic and cross-industry strengths to create long-term sustainable value for its stakeholders.
Mitsui has set three key strategic initiatives for its current Medium-term Management Plan: supporting industries to grow and evolve with stable supplies of resources and materials, and providing infrastructure; promoting a global transition to low-carbon and renewable energy; and empowering people to lead healthy lives through the delivery of quality healthcare and access to good nutrition.
Visit https://www.mitsui.com/jp/en/index.html for more information.
About Quantinuum
Quantinuum, the world’s largest integrated quantum company, pioneers powerful quantum computers and advanced software solutions. Quantinuum’s technology drives breakthroughs in materials discovery, cybersecurity, and next-gen quantum AI. With over 500 employees, including 370+ scientists and engineers, Quantinuum leads the quantum computing revolution across continents.
About NEC Corporation
NEC Corporation has established itself as a leader in the integration of IT and network technologies while promoting the brand statement of “Orchestrating a brighter world.” NEC enables businesses and communities to adapt to rapid changes taking place in both society and the market as it provides for the social values of safety, security, fairness and efficiency to promote a more sustainable world where everyone has the chance to reach their full potential. For more information, visit NEC at http://www.nec.com.