NRFC Investment Accelerates SQC’s Atomic-Scale Manufacturing

^{Left to right: Michelle Simmons AC (Founder & CEO of SQC); Dr. Mary Manning (Chief Investment Officer of NRFC); David Gall (CEO of NRFC)}

The National Reconstruction Fund Corporation (NRFC) has invested AUD$20 million in Silicon Quantum Computing (SQC), a global leader in the field of quantum computing. SQC is the only company in the world capable of manufacturing quantum chips with atomic precision while delivering quantum enhanced-AI products for enterprises and governments today. It is also one of Australia’s only semiconductor manufacturers.

SQC is at the forefront of a quantum computing revolution set to transform industries including banking, defence, pharmaceuticals and AI. The National Quantum Strategy estimates that Australia’s quantum industry could be worth $6 billion and be responsible for 19,400 jobs by 2045, underscoring the scale of the opportunity.

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NRFC CEO, David Gall, said: “Silicon Quantum Computing is a leader in the field of silicon-based quantum computing, and we are proud to be investing in a company that creates highly skilled jobs, commercialises Australian innovation, and helps to build our sovereign quantum capability."

"Australia leads the world in quantum computing, and SQC’s in-house manufacturing allows the company to iterate significantly faster, and with greater accuracy, than its competitors. This gives SQC a critical edge in forging the fastest and most cost-effective path to a commercial-scale quantum computer.”  

SQC was founded in 2017 at UNSW Sydney by former Australian of the Year, Professor Michelle Simmons AC. It is one of 11 companies around the world that have successfully advanced to stage B of the Defense Advanced Research Projects Agency (DARPA)’s exceptionally rigorous Quantum Benchmarking Initiative (QBI).  

NRFC funding will accelerate SQC’s growth by expanding its proprietary PAQMan™ or Precision Atom Qubit Manufacturing process – the most precise semiconductor manufacturing technology in the world. The investment supports the development of next-generation atomic electronics and anchors a globally competitive quantum industry here in Australia.

SQC can design, produce and test new quantum chips in under one week – an execution speed that sets the company apart in the global race to commercial-scale quantum computing. Powered by its 14|15™ platform and fully in-house manufacturing, this rapid iteration is delivering industry-leading qubit quality and algorithmic fidelity, accelerating the path to a fault-tolerant, commercial-scale quantum computer.

The company has two products in market: Watermelon™, a quantum machine learning system, and Quantum Twins™, a quantum simulator designed to accelerate molecule and materials discovery. SQC’s products have already delivered commercial outcomes across a variety of sectors including energy, logistics, defence and telecommunications, with its customer Telstra reporting a dramatic reduction in model training time using the Watermelon processor.

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SQC Founder & CEO, Michelle Simmons, said: “From day one, SQC’s mission has been clear: to build the world’s first commercial-scale quantum computer in silicon, right here in Australia. Our globally unique manufacturing capability gives us a decisive advantage in the global race, and NRFC’s investment allows us to accelerate that mission.” 

SQC currently employs over 100 people in Sydney and NRFC’s investment is expected to create highly skilled jobs in sales, chip design, quantum engineering, chip design, and hardware engineering, laying the foundation for the creation of hundreds more in the near future.  

The NRFC’s funding is part of a larger SQC funding round. The company’s existing investors include CBA, Telstra, UNSW, the NSW Government and the Commonwealth Government of Australia.

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About the National Reconstruction Fund Corporation (NRFC)

The NRFC is Australia’s sovereign investor in manufacturing capability. It has $15 billion to invest through direct loans, equity investments and loan guarantees across seven priority areas: renewables and low emissions technologies; enabling capabilities; defence capability; transport; value-add in resources; value-add in agriculture, forestry and fisheries; and medical science.  

The NRFC’s role is to invest in Australian businesses and projects that design, refine and make to transform capability, grow jobs and a skilled workforce, and diversify our economy. The NRFC is a corporate Commonwealth entity, established by the National Reconstruction Fund Corporation Act 2023 (NRFC Act) in September 2023.

About Silicon Quantum Computing (SQC)

Silicon Quantum Computing is at the forefront of global efforts to deliver a commercial-scale quantum system in 2033. Backed by 25 years of technological leadership, SQC holds a singular advantage: exclusive capability to manufacture silicon chips with atomic precision — enabling quantum machine learning chips and quantum computing systems with world-leading algorithmic fidelity. With in-house QPU manufacturing, SQC iterates new chips weekly while delivering quantum machine learning and simulation systems to customers today. Founded in 2017, the company is headquartered in Sydney, Australia.  

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Media Contacts

SQC: press@sqc.com.au

NRFC: media@nrf.gov.au

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