Honeywell brass expect Quantinuum to pull in $2 billion in sales within four years, according to a transcript from a recent call with investors. The new timeline represents a shift in just how fast the company is moving in quantum, the CEO added.
“With the introduction of Quantum Origin, which is already serving Fortune 500 customers today, we expect Quantinuum to reach approximately $2 billion of sales by 2026, one year earlier than the estimate we provided in our leadership webcast back in November,” said Darius Adamczyk, Chairman and Chief Executive Officer of Honeywell.
Last year, Honeywell invested $270 million into a majority stake in Quantinuum. Adamczky told investors that Quantinuum technology represents the best of quantum hardware and software.
“As mentioned in our investor communications throughout 2021, this combination marries the leading quantum computing hardware, the leading quantum computing software to form the largest and most advanced integrated stand-alone quantum computing company in the world,” Adamczyk said. “Quantinuum technology will help solve some of the world’s most pressing challenges, including breakthroughs in drug discovery and delivery, material science and industrial optimization, to just name a few. Quantinuum cybersecurity offering launched in December.”
He added that the company’s cybersecurity product, Quantum Origin, already delivers outcomes that classical computers could not achieve. Quantum Origin is a cloud-hosted platform that protects against these current and future threats by using the unpredictable nature of quantum mechanics to generate cryptographic keys. Those keys rely on verifiable quantum randomness from Quantinuum’s H-Series quantum computers.
“This revolutionary new product will be crucial to companies and governments, who need to ensure protection of sensitive information against adversaries and criminals,” said Adamczyk.
Further investments — capital expenditures, or capex — are planned for the quantum business.
“in 2022, we are increasing capex investment to expand our solstice production capacity, commercialize our advanced plastics recycling technology and build additional generations of both commercial and development quantum computers,” added Adamczky.