03 June 2024

EIFO invests in more quantum technology

With an investment in Atom Computing, EIFO takes another step toward further commercialisation of quantum technology research.
CEO at Atom Computing Robert Hays and CEO at EIFO Peder Lundquist. Credit: Atom Computing.

Today, EIFO announces an investment of 70 million DKK in the American Atom Computing, one of the world’s leading quantum technology businesses. On the basis of this investment, the California-based company has chosen Denmark as the location of its European headquarters. Atom Computing is currently part of the race to become the first company to launch a viable quantum computer. The presence of Atom Computing in Denmark will bring leading technology within quantum computing, know-how and jobs to the thriving quantum eco system that currently exists in Denmark.

EIFO’s investment is aligned to the national strategy of the Danish government to become a centre for international quantum technology, attracting international quantum businesses to Denmark. EIFO’s investment was made in close collaboration with ATOM Computing and Invest in Denmark, the organization promoting national investments.

An important player

“Denmark has already established itself as an important player in the international quantum industry. We have had a strong tradition of tying close bonds across the Atlantic, which benefits both our society, as well as business. It is with pride that we have managed to succeed in making Denmark an attractive country to locate a business. It is evidence to the fact that the visions of the current administration’s quantum strategy makes a tangible difference and creates new partnerships as well as international collaboration,” says Minister for Industry, Business and Financial Affairs, Morten Bødskov.

The Ministry of Foreign Affairs of Denmark and Invest in Denmark deserve much of the credit for Atom Computing's decision to open in Denmark. Their efforts have aided in establishing an introduction to a number of central and relevant actors within the Danish quantum eco system, as well as supporting the establishment of a network, which is of great importance when in the process of establishing.

“The decision to establish in Denmark by Atom Computing is yet another example of how Denmark is taking an international lead within quantum technology. We wish to attract foreign businesses that can take the Danish position of strength within the field even further. I am therefore pleased that Atom Computing, in collaboration with Invest in Denmark and EIFO, are coming to Denmark. Quantum computers have the potential to revolutionize industries such as life science, financing, and logistics. However, only by collaborating with other nations can we accelerate this development,” says Minister for Foreign Affairs, Lars Løkke Rasmussen.

From Niels Bohr until now

At his point in history, Niels Bohr set the environment within quantum in motion, and EIFO hopes that this will nurture further quantum development that will assist us to an even greater degree. The investment is intended to promote quantum computing as a unifying capacity for the benefit of Denmark, the USA, and the EU. Leadership in quantum computing is a strategic imperative for these partners, offering the potential to reshape industries, increase security and solve global challenges.

"The quantum environment in Denmark has always been strong on the academic side, and we are keen to commercialise all that research and technology," says EIFO's CEO, Peder Lundquist. "Denmark has the academic and professional expertise to move quantum on to the next stage. Plenty of companies are popping up, but not many of them are building hardware. So we are delighted to be partnering with Atom Computing and their talented team, which is now establishing a European office based in Denmark. EIFO's investment is aimed at gaining exposure to a new technology platform while also strengthening the Danish quantum technology ecosystem."

A strong, international position

Christina Egelund, Minister for Higher Education and Science, is also pleased about Atom Computing's arrival in Denmark.

"I'm delighted that Atom Computing has decided to establish a European head office in Denmark," she says. "This testifies to our strong international position in quantum technology. International partnerships and collaboration are crucial to the development of a strong Danish ecosystem and to our ability to leverage our world-class research environment. This new strategic partnership demonstrates that the National Strategy for Quantum Technology is not just another publication: it leads to concrete new initiatives and important steps forward."

“Atom Computing is excited to partner with Denmark due to the country’s continued investment in quantum research coupled with the clear motivation from academia, government, and industry to advance the field of quantum computing out of the labs into deployment,” says Rob Hays, CEO of Atom Computing. “We believe this partnership advances the national strategic imperatives of both our countries.”

The partnership with Atom Computing also supports Denmark's National Strategy for Quantum Technology, announced in 2023, and is an excellent example of the Quantum Information and Sciences Technology (QIST) cooperation agreement between Denmark and the USA. Signed in June 2022, the agreement commits both countries to fostering a vibrant QIST ecosystem through loyal cooperation, inclusive research communities and partnership sites. In Denmark, Atom Computing employs quantum research that began over 100 years ago at the Niels Bohr Institute and continues to this day at Danish universities and NATO's Deep Tech Lab – Quantum.

About Atom Computing:

Atom Computing was founded in 2018 in Berkeley, California, USA and is regarded as a leading quantum computing company. In October 2023, they announced a new quantum computer within excess of 1,000 qubits – the biggest quantum computer worldwide at that time. expect their latest model, which exceeds 1,000 qubits, to be offered as a cloud solution in 2024/25. This will enable the development of the first viable applications in areas such as simulation.

About Invest in Denmark:

Invest in Denmark is Denmark’s organization promoting national investments. Invest in Denmark is part of the Ministry of Foreign Affairs of Denmark, and attracts around 60 foreign investments and 2.000 jobs to Denmark yearly within tech, life science and clean tech.