- Multiverse Computing is joining an industrial consortium in Spain led by Renault with the goal of promoting electric, autonomous and connected vehicles.
- The company’s quantum-based algorithms will support decarbonization, digital transformation and connectivity efforts in the automotive sector.
- Enrique Lizaso, CEO of Multiverse Computing, states the market for quantum applications will be much bigger than the market for quantum hardware, a trend that we’ve seen in classical computing for decades, and Multiverse’s clients also have the option to run quantum-inspired algorithms on classical hardware, such as improving classical AI results which have relevant use cases in every industry.
PRESS RELEASE — SAN SEBASTIÁN, UNITED STATES/September 6, 2022 /EINPresswire.com/ — Multiverse Computing, a global leader in delivering value-based quantum computing solutions, is joining an industrial consortium in Spain led by Renault with the goal of promoting electric, autonomous and connected vehicles.
The project, titled “Industrial ecosystem of innovation for electric and connected vehicles in Spain,” has been approved by the Spanish government and aims to make the country a leader in sustainable mobility in Europe.
The Spanish government has reserved €39 million (about $40 million USD) in funding from the Strategic Project for the Recovery and Economic Transformation (PERTE) of the Electric and Connected Vehicle (VEC) to support the effort.
The project has three areas of focus:
• Decarbonization through the use of hydrogen, batteries and other new materials
• Digital transformation, cybersecurity and connectivity
Multiverse Computing is contributing to the effort by creating new quantum-based algorithms to better support new testing platforms and other operations in electric, connected and autonomous cars.
“The market for quantum applications will be much bigger than the market for quantum hardware, a trend that we’ve seen in classical computing for decades,” Enrique Lizaso, CEO of Multiverse Computing, said. “Our clients also have the option to run quantum-inspired algorithms on classical hardware, such as improving classical AI results which has relevant use cases in every industry.”
Rodrigo Hernández, Director of Verticals and Strategic Alliances at Multiverse Computing, said this project led by Renault proves the relevance of quantum computing in the electric vehicle industry.
“With this consortium, our technology will be provided to the most competitive OEMs in the European electric vehicle market,” he said.
In addition to Multiverse Computing, the industrial consortium led by Renault is composed of companies specializing in the fields of technology, clean energy, the circular economy, automotive manufacturing, components and batteries, new materials and algorithms. Universities and technology centers are also part of the consortium.
Funded by pandemic recovery funds from the European Union, the Spanish government announced the electric vehicle initiative last year and aims to register 250,000 new electric vehicles by 2023. Spain is the second biggest automaker in Europe and the eighth largest in the world. The electric car initiative is part of a larger effort to promote an energy transition in Spain.
About Multiverse Computing
Multiverse Computing is a leading quantum software company that applies quantum and quantum-inspired solutions to tackle complex problems to deliver value today and enable a more resilient and prosperous economy. The company’s expertise in quantum algorithms and quantum-inspired algorithms means it can secure maximum results from current quantum devices as well as classical high-performance computers. Its flagship product, Singularity, allows professionals across all industries to leverage quantum computing with common
software tools. The company serves companies in the finance, mobility, energy, life sciences and advanced manufacturing verticals.
For Multiverse Computing:
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SOURCE: Multiverse Computing