Insider Brief
- Australia’s National Reconstruction Fund Corporation will invest AUD$20 million in Silicon Quantum Computing to scale its atomic-precision chip manufacturing and accelerate commercialization of silicon-based quantum systems.
- The funding supports expansion of SQC’s proprietary PAQMan™ manufacturing process and rapid chip iteration capabilities, which enable the company to design, produce, and test quantum chips in under one week while advancing toward fault-tolerant systems.
- The investment aligns with Australia’s broader quantum strategy—projected to reach $6 billion and 19,400 jobs by 2045—and is expected to boost domestic semiconductor capacity, create high-skilled jobs, and strengthen sovereign quantum capabilities.
- Image: Left to right: Michelle Simmons AC (Founder & CEO of SQC); Dr. Mary Manning (Chief Investment Officer of NRFC); David Gall (CEO of NRFC)
PRESS RELEASE — The National Reconstruction Fund Corporation (NRFC) has invested AUD$20 million in Silicon Quantum Computing (SQC), a global leader in the field of quantum computing. SQC is the only company in the world capable of manufacturing quantum chips with atomic precision while delivering quantum enhanced-AI products for enterprises and governments today. It is also one of Australia’s only semiconductor manufacturers.
SQC is at the forefront of a quantum computing revolution set to transform industries including banking, defence, pharmaceuticals and AI. The National Quantum Strategy estimates that Australia’s quantum industry could be worth $6 billion and be responsible for 19,400 jobs by 2045, underscoring the scale of the opportunity.
NRFC CEO, David Gall, said: “Silicon Quantum Computing is a leader in the field of silicon-based quantum computing, and we are proud to be investing in a company that creates highly skilled jobs, commercialises Australian innovation, and helps to build our sovereign quantum capability.”
“Australia leads the world in quantum computing, and SQC’s in-house manufacturing allows the company to iterate significantly faster, and with greater accuracy, than its competitors. This gives SQC a critical edge in forging the fastest and most cost-effective path to a commercial-scale quantum computer.”
SQC was founded in 2017 at UNSW Sydney by former Australian of the Year, Professor Michelle Simmons AC. It is one of 11 companies around the world that have successfully advanced to stage B of the Defense Advanced Research Projects Agency (DARPA)’s exceptionally rigorous Quantum Benchmarking Initiative (QBI).
NRFC funding will accelerate SQC’s growth by expanding its proprietary PAQMan™ or Precision Atom Qubit Manufacturing process – the most precise semiconductor manufacturing technology in the world. The investment supports the development of next-generation atomic electronics and anchors a globally competitive quantum industry here in Australia.
SQC can design, produce and test new quantum chips in under one week – an execution speed that sets the company apart in the global race to commercial-scale quantum computing. Powered by its 14|15™ platform and fully in-house manufacturing, this rapid iteration is delivering industry-leading qubit quality and algorithmic fidelity, accelerating the path to a fault-tolerant, commercial-scale quantum computer.
The company has two products in market: Watermelon™, a quantum machine learning system, and Quantum Twins™, a quantum simulator designed to accelerate molecule and materials discovery. SQC’s products have already delivered commercial outcomes across a variety of sectors including energy, logistics, defence and telecommunications, with its customer Telstra reporting a dramatic reduction in model training time using the Watermelon processor.
SQC Founder & CEO, Michelle Simmons, said: “From day one, SQC’s mission has been clear: to build the world’s first commercial-scale quantum computer in silicon, right here in Australia. Our globally unique manufacturing capability gives us a decisive advantage in the global race, and NRFC’s investment allows us to accelerate that mission.”
SQC currently employs over 100 people in Sydney and NRFC’s investment is expected to create highly skilled jobs in sales, chip design, quantum engineering, chip design, and hardware engineering, laying the foundation for the creation of hundreds more in the near future.
The NRFC’s funding is part of a larger SQC funding round. The company’s existing investors include CBA, Telstra, UNSW, the NSW Government and the Commonwealth Government of Australia.
