3 Companies Working With Quantum Annealing Technology in 2024

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quantum annealing

We’ve covered Trapped Ions and Neutral/Cold Atoms quantum technology companies in previous posts powered by Quantum Insider’s proprietary data platform. Now it’s the turn of the Quantum Annealing approach, “an optimization process for finding the global minimum of a given objective function over a given set of candidate solutions (candidate states), by a process using quantum fluctuations.”

Much better at solving optimization problems than “regular computers”, a key advantage of Quantum Annealing is its resilience against noise, unlike the analogue and quantum gate model approaches, which are more susceptible to outside interference.

Another plus is that in all probability quantum annealing is likely to be commercially available before other quantum technologies.

If you want to learn more, we’ve compiled the most comprehensive list of the top quantum computing companies available!

Below is the list of the top 3 interesting companies working with quantum annealing technology in 2024. Enjoy!

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1. D-Wave


Canadian company D-Wave, founded in the very early days of the quantum tech industry back in 1999 by Haig Farris, Geordie Rose, Bob Wiens, and Alexandre Zagoskin, is the leader in the development and delivery of quantum computing systems, software and services and is the world’s first commercial supplier of quantum computers and the only company developing both annealing quantum computers and gate-model quantum computers.

Its ultimate mission is to unlock the power of quantum computing for the world. D-Wave is doing this by delivering customer value with practical quantum applications for problems as diverse as logistics, artificial intelligence, materials sciences, drug discovery, scheduling, cybersecurity, fault detection, and financial modelling.

D-Wave’s systems are being used by some of the world’s most advanced organizations, including Forschungszentrum Jülich, NEC, Volkswagen, DENSO, Lockheed Martin, USC, and Los Alamos National Laboratory. With headquarters near Vancouver, Canada, D-Wave’s US operations are based in Palo Alto, CA. D-Wave has a blue-chip investor base including PSP Investments, Goldman Sachs, BDC Capital, NEC Corp., Aegis Group Partners, and In-Q-Tel.

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2. Qilimanjaro Quantum Tech

Qilimanjaro Quantum Tech

Next, we have Qilimanjaro Quantum Tech, a deep-tech startup that addresses real-life quantum-ready problems. Qilimanjaro’s integrated hardware & software team co-designs high-quality superconducting qubit-based app-specific quantum computers. It has already commissioned its first client gate-based system. In parallel, it is targeting next-generation analog quantum computers with easy-to-use cloud access to effectively address complex optimization and ML problems. It also provides services for businesses to become quantum-ready, particularly on quantum algorithms, quantum simulation and classical/quantum computer approaches. It has closed significant customer contracts since its first year of operation and has become a key contributor to the European Commission’s AVaQus H2020 project on coherent quantum annealing.

A spin-off from the Barcelona Supercomputer Center (BSC), the University of Barcelona (UB) and the Institute of High-Energy Physics (IFAE), Qilimanjaro was founded in 2019 by Artur García-Sáez, Jordi Blasco, José Ignacio Latorre, Pol Forn-Díaz, and Victor Canivell.

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3. NEC Corporation

NEC Corporation

The only corporate giant of the three, NEC Corporation is a Japanese multinational information technology and electronics corporation, headquartered in Minato, Tokyo. Founded in 1899, the company was known as the Nippon Electric Company Limited before rebranding in 1983 as NEC.

As the evolution of technology brings greater complexity to computer processing in a variety of fields, there are growing expectations for the emergence of quantum computers with outstanding computational capabilities in certain fields. Through the continuous pursuit of research and development that began over 20 years ago, NEC is aiming to establish practical applications for quantum annealing machines, which are a type of quantum computer. In addition, while awaiting the realization of high-performance quantum annealing machines, NEC is developing annealing simulators based on vector computers that can handle large-scale combinatorial optimization problems. Through such advanced efforts, NEC will continue contributing to value creation for customers.

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James Dargan

James Dargan is a writer and researcher at The Quantum Insider. His focus is on the QC startup ecosystem and he writes articles on the space that have a tone accessible to the average reader.

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