Honeywell Quantum Solutions and Cambridge Quantum Close Merger; New Company Called Quantinuum

New Logo of Quantinuum

We reported last June about the plans for Honeywell Corporation spin off its Honeywell Quantum Solutions division and have it merge with Cambridge Quantum to form a new independent private company. (See our previous articles here and here.) They have gotten through all the necessary government and other approvals and have officially started their life together under the name of Quantinuum. The company will be the largest independent quantum company with a staff of 400 people of which 300 are technical. The company will hold dual headquarters with the U.S. headquarters in Broomfield, Colorado and the U.K headquarters in Cambridge, U.K. Ilyas Khan, formerly the CEO of Cambridge Quantum, will become the new company's CEO while Tony Uttley, formerly the President of Honeywell Quantum Solutions, will become the President and Chief Operating Office.

Honeywell Corporation will be the largest shareholder owning 54% of the shares and they have also provided the company with almost $300 million in cash to get it started. Honeywell Corporation will also be a supplier to Quantinuum and will fabricate the ion trap chips for it. But Quantinuum will also be a supplier to various divisions at Honeywell who will want to utilize their quantum computing capability for various internal projects. The company will be announcing additional new products and capabilities in the near future. A cybersecurity product is expected to be unveiled in December with an enterprise software package for quantum chemistry scheduled for 2022. In addition, Quantinuum will be announcing upgrades to its System Model H1 shortly. The software side of Quantinuum will continue to be platform agnostic and will continue supporting hardware platforms from other quantum hardware providers.

With the recent SPAC deals involving IonQ and Rigetti, it is clear that the public markets are supporting public quantum computing companies and we will have to wait and see if Quantinuum decides to take this route sometime in the future. For additional information about this new company you can visit their website at Quantinuum.com.

November 30, 2021