TNO Announces Investment in Equal1
TNO, the Netherlands Organisation for Applied Scientific Research, today announced its first-ever investment in Equal1, a University College Dublin (UCD) quantum computing spin-out founded in 2018, with growing operations in the Netherlands.
With this investment, TNO further strengthens the Netherlands as a global hub in the field of quantum technology, one of the key technologies within the National Technology Strategy. In addition to this investment, TNO also brings technical expertise to accelerate the scaling up of Equal1. The participation comes from TNO’s private holding company.
To make optimal use of TNO’s technology and expertise, Equal1 is relocating part of its R&D activities to the Netherlands.
Equal1 develops a full-stack quantum computer with an AI layer leveraging semiconductor technology. Quantum computers have the potential to solve complex problems that classical computers cannot handle, leading to breakthroughs in climate modelling, financial modelling, and AI in the future.
To build its quantum processor, Equal1 uses silicon spin qubits, a technology that TNO and Delft University of Technology have co-developed in the recent years. Equal1, with offices at NexusUCD in Dublin, and in US, Canada, Romania, and the Netherlands, currently employs about 45 people.
TNO aims to support a network of start-ups in fields where it conducts research, thereby helping to accelerate the growth of both startups and scale-ups. Through more intensive collaboration, it strengthens an ecosystem of potential customers and partners for the Dutch high-tech industry. Analyses show that too few deep-tech startups successfully transition into scale-ups and that scale-ups do often grow more slowly compared to their American counterparts. TNO seeks to address this challenge.
“This investment in Equal1 is a first tangible illustration of our new strategy to support promising deep-tech startups and scale-ups and while strengthening the Dutch high-tech ecosystem. This way, TNO helps companies create a global impact more quickly, thereby strengthening the Dutch economy, accelerating transitions, and promoting employment,” said Tjark Tjin-A-Tsoi, CEO, TNO.
Jason Lynch, CEO, Equal1 said, “TNO’s investment in Equal1 accelerates the realization of our vision to build rack-mounted quantum computers capable of scaling to millions of high-performance qubits on a single quantum chip. TNO is a leader in the field of quantum and we are grateful for their support as this partnership marks a key milestone in our roadmap towards developing the world’s most scalable, practical, and energy-efficient quantum computers.”
Jason Lynch, CEO, Equal1
Equal1 operates differently from other quantum start-ups, it builds on an ‘R&D foundation’ but focuses on developing a commercial product, leveraging well-established semiconductor foundation. They have decided to move part of their R&D activities to the Netherlands to leverage TNO’s technology and expertise in nanofabrication, infrastructure, and advanced materials from Delft University of Technology.
Equal1 is establishing itself in Delft at the House of Quantum, a national campus for quantum start-ups. As more international companies the field of quantum, the Netherlands is rapidly developing into a global quantum hub.
ENDS
7 February 2025
For further information contact Micéal Whelan, Communications and Media Relations Manager, UCD Research and Innovation, NovaUCD, e: miceal.whelan@ucd.ie.
Editors Notes
For further information about TNO visit https://www.tno.nl/en/
For further information about Equal1 visit www.equal1.com