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Universal Quantum: Major Investors Back Disruptive New Player in Quantum Computing Race

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Universal Quantum, a disruptive new player on the global quantum computing stage, has today emerged out of stealth announcing an oversubscribed £3.6 million seed-funding round.  The company is set to develop its ground-breaking new quantum computing approach and compete with the world’s biggest quantum computing companies with backing from highly influential tech investors.

The UK Government’s Science Minister, Amanda Solloway MP, will announce the investment at a quantum technology industry event later today.

Universal Quantum’s prestigious list of investors includes Hoxton Ventures, who were early backers of Deliveroo, Village Global, backed by the likes of Bill Gates, Mark Zuckerberg and Jeff Bezos, Propagator VC, Luminous VC, 7percent, as well as influential individuals. Investors have described Universal Quantum as having ‘the best approach to deliver on the exponential promises of quantum’.

The University of Sussex spin-out company, founded by quantum computing experts Professor Winfried Hensinger and Dr Sebastian Weidt in 2018, is intent on building the world’s first large-scale quantum computer with Hensinger as the Chief Scientist & Chairman and Weidt as the Chief Executive Officer.

Hensinger and Weidt have developed a radical new approach to building a quantum computer. While some companies have created small quantum machines, Universal Quantum believes that only its technology has a realistic opportunity of being scaled up into machines large enough to unleash the huge potential of quantum computing.

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Key to Universal Quantum’s appeal are some fundamental differences in its approach to building a large-scale quantum computer compared to the rest of the field. Competing approaches may require billions of laser beams for calculations, operate at extremely cold temperatures marginally above absolute zero (-273C), which can prohibit scaling up to many quantum bits (qubits), and complex engineering to connect individual quantum computing modules through optical fibre links.

Universal Quantum, however, has developed technology based on trapped ions (charged atoms) to carry out calculations using well-established microwave technology, such as that used in mobile phones, removing the need for a prohibitive number of laser beams. It substantially reduces the necessary cooling requirements, allowing to operate at a much easier to obtain temperature of (-200C) which is critical in making quantum computers far more practical and capable of operating millions of qubits. It has also developed a unique modular approach based on fast electric-field links connecting individual modules, enabling the company to scale-up to practical quantum computers that are able to process millions of qubits.

Dr Sebastian Weidt, CEO at Universal Quantum, said: “We are absolutely thrilled to have such high-calibre investors join our vision and being excited about our technology and outstanding team. We’ve done the research, now this investment puts us on an incredibly exciting path to actually building practical quantum computers.”

Professor Winfried Hensinger, Chairman and Chief Scientist at Universal Quantum, said: “Quantum computing has the power to change the world for the better. We are taking a small but significant step toward realising that potential by getting started with the engineering to create practical quantum computers. While it is a major engineering challenge, our technology and approach do not rely on making major physics breakthroughs.

“We’re assembling the brightest minds to do just that, paving the way for a British start-up to lead the journey to a truly useful and usable one million qubit quantum computer.

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“Our large-scale quantum computers will one day allow us to tackle the grand global issues of our time, from creating new pharmaceuticals, revolutionizing financial modelling, tackling optimisation problems, machine learning even helping to feed the worlds’ population by making fertilizer more efficiently.”

A spokesperson for Hoxton Ventures said:

“At Hoxton, we’re on the search to back the next big thing.

“Quantum computing is where artificial intelligence was back in 2010. We think Universal Quantum’s trapped ion technique is the best approach to deliver on the exponential promises of quantum.

“Their technology is fully modular, relying on electric field connections rather than optical fibres to link individual modules. This is much faster, and also much simpler as an engineering approach.

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“We think if UQ succeeds, its impact will lead to potential breakthroughs in technology, healthcare, materials, financial services and other industries. That’s the kind of asymmetric return we invest into.”

A spokesperson for Village Global said: “No other company has shown how they can work with millions of ions for a powerful quantum machine without needing millions of lasers, which quickly becomes unfeasible at scale. Universal Quantum execute quantum gates by applying voltages to a microchip, which is a smart and elegant solution to the problem of scaling up.

“At Village Global, we will always back the best ideas and we are excited supporting this great venture going forward”

Andrew J Scott, a founding partner at 7percent ventures, said: “When we looked for a quantum computing team to invest in it was very clear that Winfried and Seb not only had the experience to deliver on such a technical challenge but have the vision to do so.

“This will be a step change for science, equivalent in impact to the invention of the microprocessor or the internet. It’s just the sort of big idea at 7percent Ventures we love to back.”

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Lomax Ward from Luminous VC said: “Quantum computing will unlock seismic changes for both this generation and the next. We are delighted to be partnering with two visionary scientists and founders in Prof Winfried Hensinger and Dr Sebastian Weidt in their mission to crack quantum computing at scale.  Luminous Ventures exists for investments like this.”

A spokesperson for Propagator VC said: “The team’s engineering approach to building a scalable quantum computer together with their deep experience makes Universal Quantum uniquely positioned. By operating at much milder temperatures, Universal Quantum’s technology successfully swerves a major stumbling block of their competitors. They are the company closest to achieving quantum computing at the scale and power we need. Their approach utilizing microwave radiation gates has the potential to overcome many of the current obstacles to building a truly scalable quantum computer.”

A spokesperson for FoundersX Ventures said: “While making investments in BioPharma, cybersecurity and fintech, we have been looking for an ambitious team in Quantum Computing with a unique combination of world-leading technologies and highly practical engineering approaches towards truly universal quantum computers.  After we spoke with Dr. Sebastian Weidt, watched Prof. Hensinger’s in-depth video talks, and read through all their ground-breaking publications in Nature and Science, we are thrilled that we found the perfect team, who can cross the chasm, taking Quantum Computing from rocket science to everyday engineering solutions. Besides the clear advantage of mild cooling with trapped ions, I believe their sheer focus on using standard semiconductor chip processes and proven modular integration techniques will set this team apart ultimately. Look forward to supporting Universal Quantum to grow big!”

Professor Adam Tickell, Vice Chancellor of the University of Sussex, said: “This University of Sussex spin-out company will see the Greater Brighton area become a new centre of gravity in the world’s rapidly growing quantum computing industry.

“We are very proud of the achievements of Professor Winfried Hensinger and Dr Sebastian Weidt, and their team, who have long been pushing the boundaries of developments in this area, from publishing the world’s first blue-print for building a large-scale quantum computer in 2017 to pioneering technology which uses microwaves rather than lasers to execute calculations within the quantum computer.”

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The next twelve months will see a much larger funding round (Series A), which will drive even more significant progress.

The seed-funding – to the value of £3.6 million – has been secured from the following investors:

  • Hoxton Ventures – an early-stage technology venture capital firm. They partner with founders seeking to invent new market categories or transform large, existing industries. Their portfolio includes Darktrace, Deliveroo and others
  • Village Global – an early-stage venture capital firm backed by some of the world’s most successful entrepreneurs including Diane Greene, Bill Gates, Jeff Bezos, Reid Hoffman, Mark Zuckerberg and Sara Blakely.
  • Propagator VC, which invests in companies with deep tech at its core taking their first steps towards building commercial success-stories. Their focus areas are: machine learning/AI; Quantum Computing; Robotics; Encryption; and Materials
  • Luminous VC, which backs founders with a vision to significantly change the world with breakthrough technologies and applied science.
  • 7percent Ventures, who invest in tech start-ups which want to change the world, giving founders with moonshot ambitions their first money. Past investments include Oculus, Flexport, Blue Vision Labs and Magic Pony Technologies.
  • FoundersX Ventures is a Silicon Valley venture capital firm investing in disruptive technologies in smart enterprises with AI and big data, quantum computing, space technology, digital healthcare, Fintech and Foodtech.
  • La Roca Capital
    German Seed investor specializing in insurance tech and other promising product development.

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Invitation to presentation of EQT AB’s Q1 Announcement 2024

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STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.

The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.

To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.

The webcast can be followed live here and a recording will be available afterwards.

Information on EQT AB’s financial reporting

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The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.

The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.

Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]

Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334

This information was brought to you by Cision http://news.cision.com

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https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826

The following files are available for download:

https://mb.cision.com/Main/87/3956826/2712771.pdf

Invitation to presentation of EQT AB’s Q1 Announcement 2024

https://news.cision.com/eqt/i/eqt-ab-group,c3285895

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EQT AB Group

 

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Kia presents roadmap to lead global electrification era through EVs, HEVs and PBVs

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  • Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
  • Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
  • Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
    • Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
    • PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
  • Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
  • 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
  • CEO reaffirms Kia’s commitment to ESG management

SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.

Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.

During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.

The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.

“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”

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PDF – https://mma.prnewswire.com/media/2380040/Press_Release__2024_Kia_CEO_Investor_Day_240405.pdf

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BioVaxys Technology Corp. Provides Bi-Weekly MCTO Status Update

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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.

As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.

The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.

Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.

About BioVaxys Technology Corp.

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BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.

ON BEHALF OF THE BOARD

Signed “James Passin
James Passin, Chief Executive Officer
Phone: +1 646 452 7054

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