(Reuters) -IQM Quantum Computers - seen as a key player in Europe's attempts to compete globally in the quantum computer sector - will invest more than 40 million euros ($46 million) to expand a
IQM Quantum to Invest €40M in Finland Production Expansion
(Reuters) -IQM Quantum Computers - seen as a key player in Europe's attempts to compete globally in the quantum computer sector - will invest more than 40 million euros ($46 million) to expand a production site in Finland, said the company.
IQM Quantum Computers said the investment would enable it to double its assembly line capacity and increase the number of quantum computers it can produce annually.
"This will be one of the world's most advanced production facilities for quantum computers combining assembly lines and chip production," said Pasi Kivinen, vice president of operations at IQM Quantum Computers, in a statement.
Quantum computers are faster than conventional computers and their technology is considered as being vital for cybersecurity.
The European Union's tech chief Henna Virkkunen said in July that the EU wanted more private funding for the region's quantum technology sector.
($1 = 0.8678 euros)
(Reporting by Sudip Kar-Gupta)
