Nasdaq-listed Pasqal is refocusing its efforts on commercial quantum computing applications, terminating its participation in the French defense program LSQUARE despite successfully meeting all technological goals, the company says. The French Secrétariat général pour l’investissement (SGPI) and Direction générale des entreprises (DGE) have now invited Pasqal to lead a research and development program for fault-tolerant quantum computing using neutral atoms, recognizing the company’s advanced technology level and commercial maturity. In just seven years, Pasqal has become a global leader in the field, demonstrating the success of French deeptech with public support, and operates the second largest fleet of complex quantum computers worldwide.
Pasqal Shifts Focus to Commercial Quantum Applications
This invitation is specific to Pasqal’s advanced technology level and commercial maturity, demonstrating its position as a key player in the growing quantum computing field. The targeted program will concentrate on building fault-tolerant quantum computing capabilities, a critical step toward practical, large-scale quantum computation. This focused approach follows Pasqal’s decision to terminate its participation in the LSQUARE (PROQCIMA) defense program, despite successfully achieving all technological objectives within the initial phase, according to the company.
The company expressed gratitude to the French Direction générale de l’armement (DGA) for its support during the program’s first stage, but clarified that the shift aligns with its broader growth strategy and innovation priorities. Pasqal currently operates the second-largest fleet of complex quantum computers worldwide, serving a diverse clientele of world-leading companies. This scale of operation, combined with its focus on neutral-atom qubits, positions Pasqal uniquely within the competitive quantum computing market.
Neutral-atom qubits, built from single atoms held in laser light, offer a promising pathway to scalability and coherence, key requirements for practical quantum computers. Pasqal’s technology is accessible through multiple avenues, including cloud access via emulators, on-site installation and partnerships with organizations like CEA, CINECA, Aramco and DistriQ. This flexible deployment model allows clients to experiment with and integrate quantum computing without significant upfront investment in infrastructure.
The company’s recent expansion of its strategic partnership with Crédit Agricole CIB further demonstrates this commitment to commercial application, specifically targeting the development of quantum solutions for capital markets problems, the company says. This will accelerate the implementation of Pasqal’s fault-tolerant quantum computing roadmap beyond the scope of the PROQCIMA program. CUDA-Q is now integrated with Pasqal’s Quantum Resource Management Interface, enabling CUDA-Q workloads to run smoothly on Pasqal systems.
A partnership with IBM, making Pasqal part of the Network, broadens access to quantum resources and expertise. Roberto Mauro recently assumed leadership of Pasqal’s quantum product strategy, signaling a renewed focus on delivering commercially viable quantum solutions. The collaboration with WelinQ aims to interconnect neutral-atom processors. Pasqal’s expansion into the Middle East and North Africa (MENA) region is being facilitated through a commercial joint venture with Eleven Ventures, further solidifying its global reach.
This partnership, combined with a research collaboration agreement with King Abdulaziz City for Science and Technology (KACST) in Saudi Arabia, highlights the growing international interest in quantum computing and Pasqal’s ability to capitalize on this demand. The company’s revenue rose 14% recently, with quantum services experiencing a 34% increase, indicating growing demand for its offerings.
FTQC Roadmap Advances with French Public Support
Pasqal builds quantum computers from neutral atoms: single atoms held in place by laser light, each one acting as a qubit. Pasqal’s systems are available both on-premises and through the cloud, allowing customers to access quantum computing resources without requiring extensive in-house expertise. This accessibility encourages wider adoption of quantum technology across various industries, including energy, financial services and advanced materials.
Saudi Aramco, Crédit Agricole CIB, and LG Electronics are among the organizations already using Pasqal’s quantum computing systems to address complex challenges. Founded in 2019 and headquartered in Palaiseau, France, Pasqal has quickly established itself as a key player in the global quantum computing landscape. With a headcount of approximately 275 people, the company is focused on building and operating production-ready quantum computers for industry, science and governments.
Pasqal’s success demonstrates the potential of French deeptech to drive technological advancements and create industrial champions with sustained public support. Pasqal’s evolution in its collaboration with French public authorities signifies a strategic move towards accelerating the development and deployment of commercially viable quantum computing solutions, solidifying its position as a leader in the field.
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