Terra Quantum seeking to drive quantum computing innovations in Asia

02 April 2024 10:22


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St.Gallen/Seoul - Terra Quantum has its sights set on contributing to the development of quantum-enhanced innovations in Asia. To this end, the St.Gallen-based firm has entered into a partnership with the South Korean company MegazoneCloud. Together, the two partners intend to develop applications for use across a range of industries.

Terra Quantum has entered into a partnership with the South Korean supplier of cloud solutions MegazoneCloud. The agreement, which was signed in London, creates a framework for the development of joint, quantum-enhanced applications for both the private and public sector, according to a press release issued by Terra Quantum, a DeepTech firm based in the St.GallenBodenseeArea. The innovations will be focused on areas such as financial services and manufacturing, as well as weather forecasting and smart city projects.

With this strategic partnership, the spin-off from the Swiss Federal Institute of Technology in Zurich and MegazoneCloud intend to combine their complementary strengths. In this context, cutting-edge quantum computer algorithms and applications are to be developed, with the aim of driving technological progress across Asia but with a focus on the South Korean market. In view of the latest investment on the part of South Korea in the quantum economy amounting to 2.3 billion US dollars, this cooperation underlines “the role European quantum technology can play in the Asian market”, the press release states.

Max Lee, CEO of MegazoneCloud, is quoted as saying that he feels “honoured to partner with Terra Quantum, a leading quantum software provider”, in order to deliver quantum-enhanced solutions for customers active across all industries. Markus Pflitsch, founder and CEO of Terra Quantum, sees this partnership as a boost to the company’s efforts to “democratize access to quantum computing on a global scale”. It represents a “strategically important step in our efforts to further expand into the Asian market”. ce/mm

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