Rigetti and Oxford Instruments Announce Successful Completion of Innovate UK Project to Launch One of the First UK-Based Quantum Computers
LONDON and OXFORD, United Kingdom, April 16, 2024 (GLOBE NEWSWIRE) — Rigetti UK Limited, a wholly owned subsidiary of Rigetti Computing, Inc. (Nasdaq:RGTI) (“Rigetti” or the “Company”), a pioneer in full-stack quantum-classical computing, and Oxford Instruments NanoScience, a leading provider of cryogenic systems, announce that their three-year project to build and operate one of the first quantum computers in the UK has been successfully completed. The consortium also included the Quantum Software Lab at the University of Edinburgh, Phasecraft, and Standard Chartered Bank. The goals of the Rigetti-led £10 million consortium were to accelerate the commercialization of quantum computing in the UK (1) through the delivery of a quantum computer in the UK, (2) by advancing practical applications in machine learning, materials simulation, and finance, and (3) furthering the development of the UK’s quantum computing talent, infrastructure, and national supply chain. The consortium was backed by funding from the UK government’s Quantum Technologies Challenge, led by UK Research & Innovation (UKRI).