Multiverse Computing participates in Spanish industrial consortium to run ‘CUCO’ project aimed at Quantum Computing Applications

Multiverse Computing has now joined an industrial consortium of companies to investigate the use of quantum computing and its application to certain industries. The initiative is focused on identifying and solving real-world economic challenges and providing a genuine business advantage in key sectors of the economy. 

The project aims to generate knowledge about quantum technologies that are designed to assist in finding solutions to problems that are outside the current realm of classical computing. Furthermore objective of the project is to improve current state-of-the-art, quantum algorithms and apply this knowledge to a series of proof of concepts in different strategic sectors of the Spanish economy. The consortium was formed by seven companies (Amatech, BBVA, DAS Photonics, GMV, Multiverse computing, Qilimanjaro Quantum Tech y Repsol), supported by five research centres (BSC, CSIC, DIPC, ICFO y Tecnalia), and a public university (UPV), has launched the CUCO project for research on quantum computing applied to strategic industries in the Spanish economy: energy, finance, space, defence and logistics. Subsidized by the CDTI and supported by the Ministry of Science and Innovation under the Recovery, Transformation and Resilience Plan, the CUCO project emerges as the first major quantum computing project at a national and business level to further the scientific knowledge and technology of quantum computing algorithms. The project involves a public-private collaboration between companies, research centres and universities to accelerate the implementation of these technologies for use in the medium term.

Additionally, the project will assist in identifying a series of relevant use cases in the Spanish economy to conduct proofs of concept to study whether quantum computing could improve the performance of classical computing to respond to business needs while proposing the corresponding metrics. In this context, use cases will be investigated in Earth observation, the environment and the fight against climate change, the traceability of information throughout the supply chain, the optimization and simulation of complex financial calculations,
signal intelligence and more.

One of the objectives of the project is to position the consortium and its companies as benchmarks in quantum computing in their application sectors, allowing their participation in international initiatives such as the Quantum Flagship, Horizonte Europa, Digital Europe, or the European Defense Fund. Through the research in quantum computing that will be undertaken, the CUCO project will also have an impact on improving environmental sustainability since quantum computing enables more energy-efficient algorithms.