READING, UK, March 5, 2024 — OQC, the world leader in quantum computing as a service (QCaaS), today announced that Chevron Technology Ventures, part of Chevron Corporation (CVX: NYSE), has announced that He announced that he was participating in the series. B funding round.
Quantum computing in the energy market is expected to grow at a CAGR of 37.9% due to increasing demand for efficient optimization and simulation across the sector. Chevron's investment marks a significant move by a major company into the rapidly evolving field of quantum computing.
“OQC's development of quantum computers has the potential to change the landscape of information processing by merging the boundaries of engineering and physics,” said Jim Gable, vice president of innovation and president of technology ventures at Chevron. says Mr. “This is the latest investment from our Core Energy Fund and is a high-tech, high-growth startup with the potential to improve the performance of Chevron's core oil and gas business and create new growth opportunities. and breakthrough technology.”
OQC recently announced OQC Toshiba, an upgradable 32-qubit platform and the world's first enterprise-ready quantum computing platform. As the world's first company to integrate quantum computing into a commercial data center, OQC is bringing quantum from the lab to the data center. The company aims to bring to market hybrid computing that integrates quantum computing and high-performance computing.
quantum future of energy
OQC's technology offers several breakthrough opportunities for the energy sector, including the development and optimization of catalysts and the efficiency of transportation and distribution networks. Quantum is expected to accelerate the discovery and development of new materials for the energy industry through complex molecular simulations for low-carbon products.
To realize this future, the energy industry needs secure, accessible, and powerful quantum computing that is integrated with existing high-performance computing. Prior to the launch of OQC Toshiko, quantum computers were only available in laboratories, and enterprise secure access and integration with existing high-performance computing will lead to broader enterprise adoption of this breakthrough technology. This was the biggest obstacle at the top.
Leading the way in industry-leading research and development
OQC recently announced that SBI Investment, one of Japan's leading venture capital funds, is leading OQC's $100 million Series B funding. Existing investors Oxford Science Enterprises (OSE), University of Tokyo Edge Capital Partners (UTEC), Lansdowne Partners and OTIF, represented by manager Oxford Investment Consultants (OIC), are also participating.
The ongoing round is the UK's largest ever Series B in quantum computing, enabling industry-leading research and development, paving the way to quantum supremacy and delivering the next generation platform of hundreds of qubits to the world. It is possible to further enhance the OQC capabilities that can be brought to companies within the company.
Commenting on the news, Ilana Wisbey, CEO of OQC, said: We are excited to advance innovation and efficiency in exploration and renewable energy, and to pioneer enterprise-ready quantum in the energy sector. ”
About Chevron Technology Ventures
Chevron Technology Ventures identifies and invests in externally developed technologies and new business solutions that have the potential to enhance the way Chevron produces and delivers affordable, reliable, and cleaner energy. Masu. For more than 20 years, CTV has served as the primary gateway for external innovation to Chevron. For more information, please visit: www.chevron.com/technology/technology-ventures.
About OQC
OQC is a global leader in quantum computing as a service, building a bright future by delivering enterprise-ready quantum solutions that seamlessly integrate into digital infrastructure and customer workflows. The world's first award-winning integration of quantum computing into a colocation facility removes technical, financial and geographic barriers to quantum. It offers all businesses the chance to gain a competitive edge. Prior to the Series B, OQC raised $52 million, including the largest Series A in the quantum space in the UK at the time. In 2023, OQC's team has grown to over 100 people, attracting talent from all over the world. The team is building his OQC Toshiko platform, deploying it in colocation data centers, and expanding operations in the UK, Japan, and Spain. OQC Toshico is the world's first and only enterprise-ready platform. A powerful, next-generation system deployed in commercial data centers that enables businesses to securely leverage breakthrough technology from anywhere in the world. This new technology is currently in private preview and will soon be available in public clouds and data center fabrics.
Source: OQC
