The company is developing innovative deep technology for commercialisation in the quantum computing, human health and reliable energy fields.
‘Deep’ technology generally denotes technological solutions that work to address substantial scientific or engineering challenges, and Archer is developing advanced materials to build such disruptive technology.
And it’s the progress that Archer has made on that goal in the past year that has sent the company’s share price rocketing.
Shares on the move
At close on Tuesday, AXE shares were sitting at A$0.90, which represents a 400% gain on the A$0.18 they were fetching this time a year ago.
Looking at the company’s share price graph, there have been two key inflection points - in May last year and late January this year.
On May 5, 2020, shares rose 110%, after it signed a game-changing agreement with global computing giant IBM.
As Proactive covered at the time, Archer and International Business Machines Corporation (NYSE:IBM) agreed to work towards solutions for the wide-scale adoption of quantum computing, and the pair held a joint webinar in August discussing the potential of the technology.
Then, on January 20 this year, shares jumped another 69%, as Archer announced that it had secured the first patent for its flagship quantum computing chip, called 12CQ, which is a world-first qubit processor chip technology that Archer aims to build for quantum computing operation at room-temperature and put in modern electronic devices.
Most recently, Archer achieved electronic transport in a single qubit at room temperature.
Archer CEO Dr Mohammad Choucair said at the time: “In building our 12CQ chip for room temperature operation and integration onboard electronic devices, we are pushing the boundaries of what can be done technologically in the world today.
“The work unambiguously shows that a single qubit – the fundamental quantum information containing a material component of the 12CQ chip – could be used to build ‘gated’ semiconductor devices.”
Quantum computing aims to utilise quantum mechanical phenomena to power the next generation of computers.
You almost need a degree in physics to truly understand quantum mechanics, but at a basic level, it describes the way nature and matter function at the scale of atoms and subatomic particles, which is fundamentally different from the way they function at the many scales above that size (which is described by classical physics).
Functioning quantum computers remain a matter of theory only at this point in time, but, should they be successfully developed, it is hypothesised that they could solve computational problems substantially faster than the computers we know and (most of the time) love.
Choucair, in Archer’s most recent newsletter, outlined ‘the age of quantum computing’ and Archer’s role within it.
“The greatest amount of value creation in the quantum computing economy is currently generated from technology development like that which has been achieved by the Archer team; it is incredibly complex and difficult work, with global impact,” he said.
“We are building the 12CQ chip for room temperature operation and integration onboard electronic devices.
“This is a significant commercial advantage over competing chip device proposals, and one that we need to protect through rigorous international patent prosecution to ensure successful commercialisation.”
The next steps for Archer are the approval of further patent applications to protect its intellectual property in the US, China, South Korea and Australia, following the successful patent application from Japan in January.
- Daniel Paproth