Archer Materials (ASX:AXE) has secured an Australian patent for its 12CQ quantum computing chip technology.
It said it is the only ASX-listed company and one of a few players in the world developing qubit processor chip technology in the semiconductor industry.
It has significant potential for the biotechnology sector given its increasing demand for computational power in relation to drug design, statistical analysis, image processing and drug discovery.
Archer said the new patent represents a significant early-stage milestone in the development of the 12CQ chip. The granted patent protects a proposed qubit processor chip that offers a path to realise practical quantum computing.
Archer CEO Dr Mohammad Choucair said, "We are excited about the grant of the 12CQ chip Australian patent. Patent protection in major markets is a central element in Archer's strategy to develop the 12CQ chip.
"Obtaining Australian patent approval effectively protects the 12CQ chip technology and prevents others from copying, making, or selling our devices in Australia.
"With the focus on quantum technologies in Australia now stronger than ever, we believe that the granting of the Australian patent related to Archer's 12CQ chip will contribute to strengthening quantum computing and technology innovation in Australia."
