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| Share Name | Share Symbol | Market | Stock Type |
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| Ip Group Plc | IPO | London | Ordinary Share |
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| 1.20 | 2.38% | 51.60 | 14:30:36 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
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| 50.20 | 50.00 | 52.00 | 50.40 |
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| GENERAL FINANCIAL |
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Posted at 08/1/2025 15:44 by bamboo2 Frazboy, from RNS 19/12/2024Afaik, within the terms of the buyback [max of 20% of prior 20 days volume], Management are currently able to purchase up to around 10m shares per day. ==================== IP Group plc - £119m of initial cash proceeds following completion of sale of portfolio company Featurespace to Visa - Further £25m to be applied to share buyback programme IP Group plc (LSE: IPO) ("IP Group" or "the Group"), which invests in breakthrough science and innovation companies with the potential to create a better future for all, is pleased to confirm that it will receive £119m of initial cash proceeds following the completion of the sale of portfolio company Featurespace Ltd to Visa. The Group was the first institutional investor in Featurespace in 2012 and has invested a total of £22.9m over seven financing rounds. This transaction, which follows the sale of Garrison this year, further validates IP Group's model and our expertise in identifying and supporting science and technology businesses to successful exits. IP Group anticipates ending the year having generated £179m of cash proceeds from exits following a strong performance on realisations, more than four times the £38.6m received in 2023. The Group is now allocating £25m of the £119m proceeds from the Featurespace sale to the current share buyback programme. Together with the up to £15m anticipated to be received from the secondary sale announced on 09 December, this will increase the buyback programme to a total of up to £70m. Since this programme was announced in December 2023, the Group has bought back 65m shares, approximately 6% of the opening shares in issue, for a total of £28.9m. |
Posted at 19/12/2024 13:36 by bamboo2 palisz, Thanks.I have put the whole rns here as then in the future it appears in "search this thread" results. IP Group plc - £119m of initial cash proceeds following completion of sale of portfolio company Featurespace to Visa - Further £25m to be applied to share buyback programme IP Group plc (LSE: IPO) ("IP Group" or "the Group"), which invests in breakthrough science and innovation companies with the potential to create a better future for all, is pleased to confirm that it will receive £119m of initial cash proceeds following the completion of the sale of portfolio company Featurespace Ltd to Visa. The Group was the first institutional investor in Featurespace in 2012 and has invested a total of £22.9m over seven financing rounds. This transaction, which follows the sale of Garrison this year, further validates IP Group's model and our expertise in identifying and supporting science and technology businesses to successful exits. IP Group anticipates ending the year having generated £179m of cash proceeds from exits following a strong performance on realisations, more than four times the £38.6m received in 2023. The Group is now allocating £25m of the £119m proceeds from the Featurespace sale to the current share buyback programme. Together with the up to £15m anticipated to be received from the secondary sale announced on 09 December, this will increase the buyback programme to a total of up to £70m. Since this programme was announced in December 2023, the Group has bought back 65m shares, approximately 6% of the opening shares in issue, for a total of £28.9m. Greg Smith, Chief Executive of IP Group, said: "Congratulations to the Featurespace team. As our biggest exit to date, we're delighted with this outcome which represents an excellent financial return for IP Group. As the most experienced and active UK based, early-stage science investor, IP Group's sustainable model has developed and supported some of the most exciting businesses in deeptech, life sciences and cleantech. We are pleased to be able to return an additional £25m of cash to shareholders through our share buyback programme." As at 13 December 2024, IP Group had gross cash and deposits of £173.4m, long term debt of £129m, and holdings in listed companies of £159m. The Group anticipates gross cash and deposits of £279m after the receipt of the Featurespace funds which is expected before the year-end. Together, these represent approximately 62% of the Group's current market capitalisation yet account for only 29% of the Company's last-published NAV. IP Group announced on 26 September 2024, that it expected to receive £134m total cash for its holding in Featurespace, of which £119m would be received on completion and £15m subject to deferral. At that time, the Directors anticipated that the transaction would result in an increase from the Group's FY23 net asset value of approximately £51m1 (a 70% increase), of which £37m1 was recognised in our HY24 results. [1] Net of carried interest and deal costs |
Posted at 11/12/2024 12:57 by craigso @bamboo,I have little doubt that a larger buyback would "do its job" and boost the share price, even if it took a year to spend the money. Once you get into the 60s and 70s, many more sellers would surely appear. But that's offset by the fact that demand would come more and more from the buyback itself instead of outside investors. (i.e. apart from chartists, if you aren't buying at 50p, why are you suddenly buying at 60p?) I'm simply a big fan of tender offers, because I tend to make more money more quickly from them. And if I've already been following the company for awhile, I am more comfortable putting more money into the tender trade. |
Posted at 09/12/2024 07:52 by bamboo2 FOR RELEASE ON9 December 2024 Secondary sale of minority holdings in portfolio companies - Includes nine companies across balance sheet & managed funds - Balance sheet proceeds of up to c.£15m at small overall premium to carrying value - Intention for all proceeds to be used to increase ongoing share buyback programme IP Group plc (LSE: IPO) ("IP Group" or "the Group"), which invests in breakthrough science and innovation companies with the potential to create a better future for all, is pleased to announce that it has agreed the sale of minority holdings in nine portfolio companies across its balance sheet and managed funds to a new fund managed by Lexham Partners. The Group expects to generate up to approximately £15m of cash proceeds from the 6 balance sheet holdings included in the transaction. These sales are expected to be at a small overall premium to the HY24 balance sheet value. On completion of the sales, some of which are subject to customary private company transfer conditions, all proceeds received are intended to be used to further increase the Group's current share buyback programme. If these sales complete as planned, this will increase the buyback programme by a further £15m to a total of £45m. IP Group remains a committed and supportive shareholder to the portfolio companies included in this sale and the shares sold represent, on average, less than 10% of the Group's holding in each company. Greg Smith, Chief Executive of IP Group, said: "This transaction creates new relationships with a group of long-term investors and further validates the quality of the Group's portfolio and our valuation approach. IP Group has performed strongly in generating cash from exits this year at or above carrying values and we remain compelled by our portfolio and the opportunity to deliver impact and returns for shareholders. The Board believes the current share price significantly undervalues the Group's portfolio and has decided it will allocate all cash proceeds received from this secondary sale to our ongoing buyback." Dominic Perks, Managing Partner of Lexham Partners, said: "Lexham is delighted to become shareholders alongside IP Group in some of the most exciting British innovation companies. We look forward to deepening our partnership with IP Group and supporting the portfolio companies to fulfil their growth potential." In the year to date, IP Group has received £57m of cash proceeds from exits, compared with £38.6m received in 2023. Since the current share buyback programme was announced in December 2023, the Group has bought back 60.5m shares, approximately 6% of the opening shares in issue, for a total of £26.7m. Since 2021, the Group has delivered more than £100m of cash returns to shareholders via dividends and share buybacks. The Group anticipates receiving an additional £134m of cash, of which £15m is subject to deferral, for its holding in Featurespace once that transaction completes. In addition, the Group anticipates receiving additional cash proceeds after Intelligent Ultrasound Group plc affirmed its intention to make a 'material return of capital to shareholders'. As of 30 November 2024, IP Group had £176m gross cash and deposits, and the Group's holdings in listed companies were £167m, which together represented approximately 80% of the Group's market capitalisation at that date. |
Posted at 13/11/2024 12:11 by bamboo2 Microbiotica Announces First Patient Dosed in its Phase 1b Trial (COMPOSER-1) of MB310, a Precision Microbiome Medicine, in Ulcerative Colitis Patients13 Nov 2024 Cambridge, UK – 13 November 2024: Microbiotica, a clinical-stage biopharma company developing a pipeline of oral precision microbiome medicines called live biotherapeutic products (LBPs), announces that the first patient has been dosed in its Phase 1b First-in-Human trial, COMPOSER-1, of MB310 in ulcerative colitis (UC) patients. This international trial is due to recruit up to 30 adult patients at clinical centres in the UK, Austria, Bulgaria, Poland and Spain. Initial data readouts are expected by the end of 2025. Ulcerative colitis, an inflammatory bowel disease, is a debilitating disease that affects over 1.4 million people globally. MB310 has been developed as an oral capsule, dosed once daily, containing a defined consortium of eight live gut commensal bacterial strains. It is designed to deliver long-term remission to UC patients, without immunosuppression or unwanted side effects. The COMPOSER-1 study will investigate the safety, tolerability, and initial signals of efficacy of MB310 in a randomised, placebo-controlled, double-blind, clinical trial. The degree to which the bacteria within MB310 successfully engraft into patients’ intestinal microbial community will be measured. The study will recruit patients with active, mild-to-moderate UC, who will take two capsules of study medication (active or matched placebo) once a day for 12 weeks in addition to their standard of care medication, with a 12-week follow-up period. (Study identifiers: NCT06582264; 2023-507376-50) . The bacterial strains in MB310 were identified by analysing clinical and microbiome data from a faecal microbiota transplant (FMT) study in UC patients carried out with collaborators at the University of Adelaide. The results demonstrated the ability of a microbiome therapy to induce remission in UC without significant side-effects. Microbiotica‘s analysis identified the engrafting bacteria associated with clinical response, leading to the development of MB310 as an LBP. Preclinical studies have demonstrated that MB310 acts via at least three independent mechanisms that are central to the pathology of UC: promoting the healing of the damaged gut epithelial barrier, regulating the balance of cytokines that are inflammatory (TNF) and immune-modulatory (IL-10); and inducing a regulatory T-cell response. Professor Walter Reinisch, Professor for Gastroenterology and Hepatology at the Vienna Medical University, Austria, an advisor to Microbiotica and a principal investigator in the study, said, “Microbiota dysregulation is known to be a key driver to the pathogenesis in ulcerative colitis. The COMPOSER-1 study offers us a unique opportunity to treat UC by rebalancing the microbiota with this new treatment modality and potentially inducing long-term disease remission in our patients.” Ron Carter, Microbiotica’s Chief Medical Officer, said, “there is a considerable body of evidence to support that FMT is beneficial for mild-to-moderate UC patients. This provides the underpinning of a microbiome-based treatment for this debilitating disease. Microbiotica’s precision microbiome platform has enabled us to identify the specific bacteria that could make a difference for patients and deliver them as a pharmaceutical in the form of MB310.” – ENDS – About Microbiotica Microbiotica is a private, clinical-stage, biopharma company developing a pipeline of oral precision microbiome medicines called live biotherapeutic products (LBPs) with lead programmes in immuno-oncology and inflammatory bowel disease. The company has a clinic-led, purpose-built, proprietary, microbiome profiling platform to support drug discovery based on clinical data, which enables precision identification of bacteria associated with favourable clinical trial outcomes in specific patient populations. The company has significant expertise in microbiology, bioinformatics, translational biology and LBP manufacturing and development. The Company is creating a novel pipeline of programmes in immuno-oncology (MB097 for advanced melanoma), and inflammatory bowel disease (MB310 for ulcerative colitis). It has a major partnership with Cancer Research UK and Cambridge University Hospitals in immuno-oncology. The company has a clinical trial supply agreement with MSD (Merck & Co., Inc., Rahway, NJ, USA) for use of KEYTRUDA in evaluating MB097 in melanoma patients with primary resistance to anti-PD-1 immunotherapy. MB310 was developed in collaboration with the University of Adelaide. Both programmes have data read-outs in 2025. Spun out of the Wellcome Sanger Institute in 2016, the Company is based in purpose-built facilities at the Chesterford Research Park near Cambridge, UK. Microbiotica has raised more than £62 million equity investment, including a £50 million Series B in 2022, with venture investors including British Patient Capital, Cambridge Innovation Capital, Flerie Invest, IP Group plc, Seventure Partners and Tencent. The company has also received financial support from the US-based Crohn’s and Colitis Foundation. |
Posted at 30/10/2024 17:12 by bamboo2 Thanks palisz, I think we should have the complete post!Diffblue Ltd Diffblue Secures $6.3 Million in New Funding Amidst 3x Growth Period 30 Oct 2024 OXFORD, England - Diffblue, creators of the world’s first fully autonomous generative AI-for-code software, today announced it has secured $6.3 million in new capital as it reaches a record six-month period with 326% net new ARR growth from the prior six months. Toffer Winslow (formerly StackState, Dynatrace, RSA Security) has also been appointed as Diffblue’s new CEO to drive the firm’s next stage of growth. Diffblue's new and oversubscribed round of funding was anchored by existing investors IP Group, Parkwalk Advisors, and AlbionVC, with additional participation from Oxford University, and private investors via the Oxford Technology and Innovations EIS Fund (OTIF). Additionally, Citi Institutional Strategic Investments joined as a new equity investor. The company is now well-positioned to continue to fuel its triple-digit growth rate well into 2026 while still maintaining a capital efficient approach that is uncommon among generative AI companies. The company’s rapid top-line growth is driven by swift and steady customer adoption of Diffblue’s AI-powered autonomous test generation platform that catches bugs early in the development cycle when they are easy and inexpensive to fix. Diffblue’s novel approach is different from LLMs and supports the mission of developers and IT leaders who are committed to automating intelligently, shortening release cycles, and delivering better quality software for the benefit of users. Today, Diffblue serves four of the 10 largest U.S. banks and several other members of Forbes’ Global 2000. Key customers include: Citi, ING, Cisco, AstraZeneca, and The Bank of New York Mellon Corporation (BNY). “There is a massive market opportunity for start-ups that figure out how to harness the potential of AI to transform how software gets built, tested, and deployed,” said Iain Maclean, Global Head of Rates Technology at Citi. “Our investment in the company reflects our belief in its potential to be an important player in the next generation of AI-powered software development tools.” Founded by researchers from the University of Oxford, Diffblue drives velocity, quality, and productivity for Java development teams working on mission-critical applications. Its flagship product, Diffblue Cover, leverages generative AI to automate unit test generation 250x faster than a human developer. As a result, software teams can improve code quality, expand test coverage, and increase efficiency so they can ship software faster, more frequently, and with fewer defects. Diffblue’s differentiated approach to generative AI leverages reinforcement learning techniques to avoid the accuracy, security, privacy, and liability concerns associated with LLM-based coding assistants. “Diffblue is leading the charge in one of the hottest, fastest-moving markets in the history of the software industry,” said Mark Reilly, Managing Partner at IP Group. “The company’s traction with large, sophisticated customers deploying best-in-class AI technologies across their software development processes is strong evidence of its differentiated, valuable solution.” “Diffblue is at a hugely exciting juncture owing to its team's ability to provide a valuable solution within a rapidly evolving market,” said Neil Cameron, Investment Director at Parkwalk. “At Parkwalk, we invest in companies with the potential to lead transformative industries. Diffblue’s growth, coupled with its increasing traction amongst global customers, only strengthens our confidence in their long-term impact on the future of software development.” Toffer Winslow, CEO at Diffblue, added, “Diffblue̵ Next month, Diffblue will be making its flagship solution more accessible to developers at companies of all sizes with a new product release. Stay tuned for updates. To learn more about Diffblue, visit diffblue.com. About Diffblue Founded by researchers from the University of Oxford, Diffblue uses game-changing AI technology to fundamentally transform the way developers write code. An early pioneer of generative AI, Diffblue leverages reinforcement learning to automate tedious and error-prone parts of the SLDC (software development lifecycle) with trusted results. Capable of writing unit tests 250x faster than a human developer, Diffblue Cover autonomously helps software teams improve code quality, expand test coverage and increase productivity so they can ship software faster, more frequently, with fewer defects. Diffblue’s customers include Citi, Cisco, AstraZeneca, ING, and The Bank of New York Mellon Corporation (BNY). Press Contact Kira Wolfe diffblue@cmand.co |
Posted at 08/8/2024 06:55 by bamboo2 FOR RELEASE ON08 August 2024 IP Group plc - Cash proceeds from exits tracking higher than 2023; intention to increase share buyback programme; notice of results IP Group plc (LSE: IPO) ("IP Group" or "the Group"), which invests in breakthrough science and innovation companies with the potential to create a better future for all, is pleased to provide the following updates. The Group announces that it intends to publish its results for the six months ended 30 June 2024 on Tuesday 17 September 2024. In the meantime, the Group is updating shareholders on portfolio exits achieved to date and consequential return of capital in line with its policy. Following strong performance on portfolio realisations during the year to date, cash proceeds from exits confirmed or completed now total over £43m, a level that already exceeds the total for the whole of 2023. The previously announced sale of Garrison Technology Ltd ("Garrison") to US-based cybersecurity firm Everfox is expected to complete during August. This accounts for the majority of the £43m proceeds noted above, with the balance received from the sale of holdings in a small number of portfolio companies, all of which have been completed at or above carrying values. In addition to the above, the Group notes that Intelligent Ultrasound Group plc plans to make a 'material return of capital' following the announced sale of its Clinical AI business to GE HealthCare for an enterprise value of £40.5m. IP Group has a 20.8% holding in Intelligent Ultrasound. As a result, in line with guidance given, the Directors plan to increase the Group's current share buyback programme by a further £10m. This will increase the current programme to a total of £30m. Since this programme was announced in December 2023, the Group has bought back 29m shares, approximately 3% of the shares in issue, for a total of £13m. The Group also advises that it has yet to receive an update from portfolio company Istesso with regard to the outcome of its Phase 2b trial for Leramistat (MBS2320) in rheumatoid arthritis. Although receipt of this data is later than the Group had anticipated, this is not at all uncommon in complex clinical trials. The Group looks forward to updating shareholders when it is in a position to do so. Further information on the publication of half-yearly results IP Group's half-yearly results will be available via the London Stock Exchange's Regulatory News Service (RNS) and on the Investor Relations section of the company's website at www.ipgroupplc.com. Members of IP Group's leadership team will provide a live presentation via the Investor Meet Company platform on 17 September 2024 at 09:00am. Questions can be submitted pre-event via the Investor Meet Company dashboard up until 9am the day before the meeting or at any time during the live presentation. Investors can sign up to Investor Meet Company for free via: Investors who already follow IP Group on the Investor Meet Company platform will be invited automatically. |
Posted at 09/5/2024 06:50 by bamboo2 IP Group plc - Portfolio company Hysata completes US$111m series B funding roundIP Group plc (LSE: IPO) ("IP Group" or "the Group"), which invests in breakthrough science and innovation companies with the potential to create a better future for all, is pleased to note that Australian portfolio company Hysata Pty Ltd ("Hysata" or "the Company") has now completed its US$111m (£91m) Series B funding round. Hysata, which is developing electrolysers to produce green hydrogen at scale with both higher energy efficiency and lower cost, will use the funding to advance product development and expand production capacity at its manufacturing facility in Wollongong, New South Wales, Australia as it focuses on reaching gigawatt scale manufacturing. As previously announced on 22 December 2023, IP Group invested a total of US$15m (£12m) from its balance sheet into the funding round, as well as US$18m (£14m) from its managed private funds*. Following completion, IP Group has an undiluted beneficial holding of 37.0% in Hysata, valued at £79m. bp Ventures and Templewater led the funding round in the Company, which was supported by IP Group alongside other existing investors, including Clean Energy Finance Corporation, Hostplus and Vestas Ventures. Hysata also welcomed new investors POSCO, Shinhan Bank, IMM Investment Group, Oman Investment Authority, Twin Towers Ventures and TelstraSuper. Greg Smith, Chief Executive Officer of IP Group, said: "We're delighted to see such continued strong support for Hysata and today's announcement of major new strategic and financial investors strengthens Hysata's leadership position. We have supported Hysata since before inception combining our local presence with expertise from our leading cleantech investment platform, Kiko Ventures. It's a great example of what can be achieved by combining world-class research with global markets, partners and capital to build truly world-leading technology companies." *Includes funds managed/advised on behalf of Hostplus & TelstraSuper |
Posted at 12/10/2023 09:33 by bamboo2 Hard to see a cost/benefit justification for this...FOR RELEASE ON 12 October 2023 IP Group - Webinar on ESG & Impact IP Group plc (LSE: IPO) ("IP Group" or "the Group" or "the Company"), which invests in breakthrough science and innovation companies with the potential to create a better future for all, announces that it will hold a webinar on ESG and impact entitled "ESG Forward - our approach to impact" on Thursday November 16 2023 . Our Head of ESG, Bran Pathman ban, will be joined by our CEO Greg Smith and CFOO David Baynes to discuss the Group's approach to ESG and impact, as well as the broader challenges of providing a meaningful narrative around impact. We're delighted to be joined by special guest Alex Edmans, Pro fessor of Finance at London Business School. Alex has a PhD from MIT as a Fulbright Scholar and was previously a tenured professor at Wharton and an investment banker at Morgan Stanley. He serves as non-executive director of the Investor Forum, on the World Economic Forum's Global Future Council on Responsible Investing, and on Royal London Asset Management's Responsible Investment Advisory Committee. Further details of the event, which will start at 9am, and how to register can be found on t he events section of our website : hxxps://www.ipgroupp The update will be hosted live via the Investor Meet Company platform. Questions can be submitted in advance of the event via the Investor Meet Company Platform up to 9am the day before the meeting or at any time during the live presentation. Investors can sign up to Investor Meet Company for free via: hxxps://www.investor No material new information will be released by the Company during the presentation. |
Posted at 21/2/2023 22:24 by bamboo2 21 Feb 2023Largest funding round in UK Quantum Computing Quantum Motion, a UK-based quantum computing scale-up founded by Professor John Morton, UCL, and Professor Simon Benjamin, Oxford University, has raised over £42 million in equity funding from some of the world’s leading quantum and technology investors. The oversubscribed round is led by Bosch Ventures (RBVC) and joined by Porsche Automobil Holding SE (Porsche SE) and British Patient Capital. All existing investors from earlier rounds (Oxford Science Enterprises, Inkef, Parkwalk Advisors, Octopus Ventures, IP Group and NSSIF) are again participating. This is one of the most significant raises in UK quantum computing and allows Quantum Motion to accelerate its development of silicon quantum processors by developing deeper ties with its manufacturing partners and trebling the size of its central London headquarters. Quantum computers offer an opportunity for transformative computing power with the potential to disrupt sectors ranging from energy and pharmaceuticals to finance and logistics. Quantum Motion’s vision is to develop scalable quantum computers by harnessing highly advanced silicon transistor manufacturing processes. Over the last two years the company has made a series of peer-reviewed and record-breaking achievements that underline how silicon could be the fastest, most cost-effective and scalable way of producing the millions of qubits that are needed to create fully-functional, fault tolerant quantum computers. Quantum Motion’s latest funding round brings the total raised to £62 million. The company has previously raised over £20m in equity and grant funding from the UK and EU and existing investors which have supported the company through its early-stage work and growth, enabling it to hit a sequence of milestones that demonstrate a clear path towards building quantum computers. It has designed and validated integrated circuits capable of generating, routing and processing signals at deep cryogenic temperatures, operating down to a few tenths of a degree above absolute zero. Recent demonstrations such as the mass characterisation of thousands of multiplexed quantum dots fabricated in a tier one foundry have further underlined the company’s advantage. James Palles-Dimmock, CEO of Quantum Motion, said, “The support of leading technology investors enables us to realise our vision of a quantum computer built using standard foundry processes. This support, along with the continuing UK national quantum programme and European initiatives, provides a step-change in our capabilities. We have assembled a world leading team and with the funding and support in place, we are ready to scale and deliver on our vision.” Investor quotes Ingo Ramesohl, Managing Director, Bosch Ventures, said, “CMOS based quantum computing leverages on today’s sophisticated chip manufacturing processes and fabs. Quantum Motion has demonstrated that it can take quantum theory out of a lab into the real world to create a scalable path to a quantum future. We’re excited to join the company and break new ground in the years to come.” Lutz Meschke, board member at Porsche SE, said, “The approach of Quantum Motion has tremendous potential with respect to the cost-effective scalability and wide-spread deployment of quantum computing in many industries. We are looking forward to supporting one of the world’s leading teams in the development and industrialisation of this technology.” Catherine Lewis La Torre, CEO of British Patient Capital, said: “Quantum Motion blends sector expertise with a unique offering that is pushing the boundaries of quantum computing. Quantum computers will play an essential role in solving challenges that are far beyond the computational capabilities of today’s super computers. We are delighted to be investing in this UK deeptech leader via Future Fund: Breakthrough as the business continues to develop cutting-edge technologies.” Sam Harman, Investor Director, Oxford Science Enterprises, said, “Quantum Motion is a powerhouse of technical and commercial talent, which has put the UK at the forefront of silicon quantum development globally. We’re proud to have been part of the journey since the beginning, and thrilled to continue our support alongside a strong syndicate of new investors, as the team takes the next step towards realising their end vision.” Neil Cameron, Investor Director at Parkwalk, said, “Parkwalk, a founder investor in the UK quantum industry, is delighted to follow its investment in Quantum Motion. The team has consistently achieved and even surpassed the planned technical milestones and we are confident that their ground breaking work will only accelerate with this significant increase in funding. We believe quantum computing will transform many industries, and it is essential that the UK is at the forefront of this revolution.” Industry luminary and Chairman of the board Alberto Sangiovanni-Vincente ENDS About Quantum Motion Quantum Motion is developing a revolutionary technology platform; not just a qubit, but a scalable array of qubits based on the ubiquitous silicon technology already used to manufacture the chips in smartphones and computers. The company is developing fault tolerant quantum computing architectures that are compatible with CMOS processes. Fault tolerant quantum processors will support the most powerful quantum algorithms, targeting solutions to currently intractable problems in fields as diverse as chemistry, materials science, medicine and artificial intelligence. The company employs 40 people, comprising specialists in quantum theory, engineering and software. www.quantummotion.te |
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