Aerospace Concepts launches QxBranch Aerospace Concepts launches QxBranch - quantum computing venturendash; quantum computing venture
Aerospace Concepts announced today the creation of QxBranch, a new company focused on developing the software and services to delivery quantum computing into the mainstream. QxBranch will initially focus on developing game-changing products in the financial, oil and gas, aerospace and biotech sectors.
The creation of the new venture is a result of a research collaboration effort between Aerospace Concepts and Lockheed Martin announced in May this year. Under the agreement, Aerospace Concepts, and now supported by QxBranch, will have access to Lockheed Martin's D-Wave Two™ quantum computer, produced by Canadian start-up D-Wave Systems, to conduct applied research in complex systems analysis and work with commercial partners to introduce new optimization algorithms enabled by the machine. D-Wave Systems has sold two quantum computers, one to Lockheed Martin and another to a collaborative effort between Google and NASA.
Michael Brett, formerly Chief Operating Officer of Aerospace Concepts, will lead the new venture.
Quantum computing is a rapidly emerging technology with the potential to crack previously unsolvable challenges in mathematics and computer science. The practical applications of quantum computing range from drug discovery, understanding how environmental differences affect human health, analyzing demographics to better understand consumer trends, rapidly verifying immense software libraries, and analyzing markets and portfolios.
QxBranch's technical effort will be based in Adelaide, Australia, with offices at Washington DC's 1776 technology incubator, and in Hong Kong.